• Telegram to allow users to purchase ads with Toncoin.
  • Channel owners will receive 50% of ad revenue. 
  • TON could break past its previous all-time high as it begins its community rewards program.

Toncoin (TON) briefly surged over 6% following Sunday's announcement of Telegram's ad revenue-sharing program. Anticipation for the Toncoin community rewards initiative, which is set to go live on Monday, has also seen the Total Value Locked (TVL) on the Ton blockchain reach new highs.

Read more: ICP, NEAR, Toncoin and GALA are among largest gainers amid weak market

Telegram unveils ad revenue sharing using Toncoin

Telegram deepened the integration of Toncoin on its platform after announcing on Sunday that it would be sharing 50% of ad revenue with owners of public channels with at least 1,000 subscribers. The move will see the social media platform introduce a new kind of ad that users can purchase with Toncoin. As a result, “anyone can now promote their bot or channel—with as low as a handful of Toncoins," said Telegram on its website.

Many web3 users view ads as a compromise on privacy considering the user data that most ads are built upon. Telegram said in its announcement that "ads are not based on user data (...) and depend only on the channel in which you see them." Following the announcement, TON's price increased more than 6% before experiencing a correction.

Also read: Week Ahead: Bitcoin flashes sell signal, but altcoins explode. What will happen this week?

This comes after a positive March for TON, which saw an over 100% gain month-on-month, rising from $2.48 on March 1 to an all-time high of $5.69 on March 25 before retracing. This gain was partly fueled by earlier hints of the TON ad revenue program by Telegram CEO Pavel Durov and the announcement of the Toncoin community reward initiative dubbed The Open League, according to analysts at CoinGecko.

The Open League also set to go live

The Open League, set to go live today, will see competing projects and users in the TON blockchain receive rewards of over 30 million Toncoin, valued at more than $115 million. According to the Toncoin Foundation's announcement, projects will receive $15 million, while users will have the opportunity to share $100 million for interacting with these projects.

Read more: Decentraland price consolidation could lead to a breakout rally beyond $1

Since the announcement, Total Value Locked (TVL) on TON has risen from $59 million to $100 million amid a steady rise in daily active users, according to data from DeFiLlama

With TON used for ad purchases and the Open League rewards program going live today, projects on the TON blockchain may receive increased attention, fueling a rise for Toncoin.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Solana and XRP ETFs may be on the cards in 2025, Standard Chartered analyst says

Solana and XRP ETFs may be on the cards in 2025, Standard Chartered analyst says

Ethereum Exchange Traded Fund approval news has renewed optimism on Solana and XRP ETFs approval in 2025. Analysts at Standard Chartered believe more cryptocurrency ETFs may be approved next year, and these assets will not be classified as securities. 

More Solana News

Uniswap Price Forecast: UNI could be poised for 30% rally after month-long lull

Uniswap Price Forecast: UNI could be poised for 30% rally after month-long lull

Uniswap price has broken out of a 35-day consolidation this week, a sign of a possible rally ahead that could increase the token’s price around 30%. Technical indicators support the bullish thesis, while on-chain data also aligns with it.

More Uniswap News

Dogecoin inspiration Kabosu dies, leaving legacy of $22.86 billion market cap meme coin behind

Dogecoin inspiration Kabosu dies, leaving legacy of $22.86 billion market cap meme coin behind

Kabosu, the popular Shiba Inu dog that inspired the logo of the largest meme coin by market capitalization, Dogecoin, died early on Friday after losing her fight to leukemia and liver disease. Kabosu had gained popularity as the dog behind the viral “doge” meme. 

More Dogecoin News

XRP climbs past $0.53, SEC Chair Gensler says the agency has done very well in court cases

XRP climbs past $0.53, SEC Chair Gensler says the agency has done very well in court cases

Ripple lawsuit ruling is expected soon, following the new US crypto bill, FIT21. SEC Chair Gary Gensler says the agency has fared well in legal battles while speaking at the ICI 2024 Leadership Summit. 

More Ripple News

Bitcoin: BTC struggles, but $80K is at striking distance Premium

Bitcoin: BTC struggles, but $80K is at striking distance

Bitcoin (BTC) price is in a good position to resume the bull rally despite the recent struggle. Optimism will restart if BTC overcomes a critical hurdle and flips it into a foothold. In such a case, the pioneer crypto will be slated to push to a new all-time high (ATH). 

Read full analysis

BTC

ETH

XRP