In a significant stride into the realm of Cryptocurrency, Telegram recently rolled out an innovative new feature. Users of this globally celebrated messaging platform are now granted the opportunity to promote their channels via advertising, deftly leveraging the full power of blockchain technology. Telegram will permit users to buy ad space using the in-house digital currency christened Toncoins (TON), which operates under the aegis of the TON blockchain.
In essence, Telegram has understood the massive potential for channel owners to earn ad revenue. In their latest announcement, the company shone a light on the monumental stats demonstrating how channels collectively garner over a trillion views every month. To harness this enormous viewing power, Telegram introduced a model allowing for revenue-sharing, which will enable channel owners with a minimum of 1000 subscribers to claim a generous 50% of ad revenue originating from ads showcased on their channels.
A number of compelling factors prompted Telegram’s integration of the TON blockchain into this groundbreaking feature. The platform cited benefits such as low fees and swift transactions as some of the reasons behind this decision. Besides, TON blockchain currently holds the record for processing the highest number of transactions per second—an astonishing feat. Given this, it’s clear that the choice of TON wasn’t arbitrary but was weighed carefully to offer users the full parade of blockchain benefits – security, transparency, and expediency.
Telegram’s CEO, Pavel Durov, underlined the importance of facilitating efficient, foolproof ad payments and withdrawals, suggesting that the TON blockchain would serve as the one-stop platform for these transactions. In Durov’s words, the intent is to create a “virtuous circle” where the platform sells ads and shares revenue with channel owners in Toncoin, thereby instigating a process where content creators can either cash out their earnings or reinvest them for escalating their channels.
Since the unveiling of these path-breaking features, the TON token has seen a bullish upswing. In the last 24 hours alone, the digital currency has swelled over 5%, reaching a trading price of $5.30—a handsome addition to the extraordinary 100% price jump witnessed in the previous month. A substantial increase in TON’s trading volume—a staggering $234,869,370 in the last 24 hours, represents a surge of more than 74% when compared to the prior day’s figure.
Flirting with its all-time high (ATH) record of $5.69, which dates back to March 25th, the price jump following the introduction of these features, paired with surge in trading volumes, could set the TON token on track to a new ATH if the demand persists. However, before that can occur, the TON token must first overcome the significant resistance level of $5.45—an obstacle that so far proved insurmountable.
Based on the current TON/USD 4-hour chart, the support level positioned to potentially curb a price correction post the recent upward trend, stands at $5.26. This critical buffer is intended to prevent any drastic downward price adjustments, suggesting that for now, the future of the TON token holds promise.