Telegram, boasting over 700 million users, has unveiled its latest feature, ‘Giveaways.’ While giveaways are common, conducting them authentically has been challenging. Telegram aims to revolutionize this by enabling channel owners to seamlessly organize giveaways, fostering channel promotion, subscriber growth, and rewarding fairness.
Toncoin (TON), impacted significantly by this feature’s introduction, witnessed an astonishing surge. Soaring to its highest valuation in nearly a year, TON reached over $9 billion, securing a spot among the top ten cryptocurrencies. Telegram CEO Pavel Durov’s active involvement, initiating a giveaway of $200,000 worth of TON to 10,000 users, fueled an immediate 19.5% surge, hitting $2.71.
Durov’s strategic move underscores his commitment to advancing TON within the Telegram ecosystem. The giveaways, accompanied by Durov’s personal contributions, reveal a concerted effort to promote Toncoin.
Telegram’s massive user base and robust sponsorship create a solid foundation for Toncoin’s growth. Beyond giveaways, new partnerships, regulatory approvals, and the Dubai Financial Services Authority’s authorization of TON and XRP usage within its jurisdiction contribute to a positive sentiment surrounding TON.
Toncoin achieved a groundbreaking milestone on October 31, operating its blockchain at an impressive 104,715 transactions per second. TON’s architecture, designed to handle a growing number of transactions by adding more nodes, positions it as the fastest and most scalable blockchain globally.
The convergence of the Telegram Giveaways feature, regulatory support, and blockchain speed signifies a turning point for Toncoin. With technical superiority and a foundation for further innovation, TON’s rapid growth is poised to continue, solidifying its place as a frontrunner in the cryptocurrency landscape.