Crypto News

Telegram’s New Giveaways Feature And Its Effect On Toncoin

In a huge move, Telegram, the well known messaging app with more than 700 million has disclosed a thrilling new feature – Giveaways. While giveaways have been a pattern via online entertainment for some time, leading them transparently and verifiably has been a challenge. Telegram expects to change that by allowing channel owners to effortlessly launch giveaways. 

This feature vows to boost channel promotion, draw in new subscribers, and reward existing followers in a fair and transparent way. With Telegram’s help, a huge number of users presently get the opportunity to win prizes, including Telegram Premium subscriptions.

The Toncoin Price Surge

The presentation of giveaways astoundingly affects Toncoin (TON). The price of TON immediately surged to its most significant level in almost a year, arriving at a valuation of more than $9 billion, getting its place in the main ten cryptocurrencies. What added fuel to this surge was Telegram CEO Pavel Durov’s active contribution. Durov started a giveaway for 10,000 Telegram users by purchasing $200,000 worth of TON.

Telegram Source Picture Connection

The reaction was overpowering, and TON’s price soared by 19.5%, arriving at its latest high at $2.71, as it tries to outperform its all-time high of $5.8. This move by Durov exhibits his obligation to driving the reception of TON inside the Telegram ecosystem.

TONCOIN Growing Usage and Regulatory Approval

Telegram’s solid sponsorship and growing user base of 700 million users give a strong groundwork to Toncoin’s growth. The help reaches out past the giveaway, with new partnerships and TON permissions further uplifting traders and investors. In another event, the Dubai Financial Services Authority authorized the utilization of TON and XRP inside its jurisdiction, blending positive sentiment around TON. This regulatory approval implies a critical step in the right direction for the reception of TON.

TON Blockchain Technological Milestone

Notably, TON accomplished a momentous milestone on October 31st, with its blockchain arriving at a great speed of 104,715 transactions each second. This places TON Blockchain as the fastest and most scalable blockchain globally. Notwithstanding, this accomplishment is a long way from its cutoff points. TON’s interesting architecture allows it to deal with a great many transactions each second from billions of users by adding more nodes, underscoring TON’s technical superiority among existing blockchains.

All in all, Telegram’s Giveaways feature has shown to be a catalyst for Toncoin’s surge. Combined with regulatory approval and noteworthy speed, TON is ready for additional growth and innovation.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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