Telegram’s IPO Buzz Fuels Toncoin Surge

Telegram continues to carve its path through the digital age, and the messaging giant is flirting with the idea of an Initial Public Offering (IPO), according to its founder and CEO, Pavel Durov. This revelation, made on a recent Monday, sparked an unexpected rally in The Open Network’s Toncoin (TON), showcasing the intricate dance between social messaging platforms and cryptocurrency markets.

The Open Network (TON), initially launched as the Telegram Open Network in 2017, faced a significant setback in 2020 when the U.S. Securities and Exchange Commission (SEC) contested its initial coin offering (ICO). Despite this hurdle, the project persevered independently, with Telegram gradually reintegrating and leveraging the blockchain to its advantage.

The resurgence of Telegram’s interest in TON, hinted at through various integrations, likely contributed to the sharp increase in Toncoin’s value. CoinGecko data reveals that TON’s price soared to $3.84, its zenith since December 2021, marking a nearly 38% hike from the start of Monday. Although the frenzy settled slightly, leaving Toncoin at $3.64, the figures remain impressive—a 19% gain over 24 hours and a 37% increase over the week, cumulating in a 75% upswing over the past month.

Durov’s insights in a recent Financial Times interview shed light on Telegram’s exponential user growth, from 500 million in 2021 to 900 million monthly users. This surge, alongside lucrative revenues from subscriptions and ads, positions Telegram on the brink of profitability, potentially within this or the next year. Durov’s disdain for venture capital influence steers the company towards an IPO, aiming to democratize access to Telegram’s burgeoning value.

A pivotal move to strengthen this growth trajectory includes sharing ad revenues with channel owners, paid out exclusively in Toncoin. The integration of a self-custody crypto wallet within Telegram by The Open Network Foundation further blurs the lines between messaging services and financial technologies, enhancing user engagement.

Additionally, the Toncoin ecosystem is abuzz with the anticipation of Notcoin, a viral Telegram game with 27 million players. The launch of its crypto token (NOT) on TON and an upcoming airdrop for active players underscores the dynamic and evolving relationship between Telegram, TON, and the broader digital currency landscape.

Telegram’s flirtation with an IPO and its renewed affiliation with TON heralds a promising chapter for both entities. As Telegram edges closer to profitability and continues to innovate, its synergy with TON could redefine the nexus of social messaging and cryptocurrency, offering unprecedented opportunities for investors, users, and the tech community at large.