Telegram is a major social media platform that competes with Instagram, Twitter, and Facebook. Recently, Telegram announced that users can now use Toncoin to pay for advertisements within the platform.

This update is part of Telegram's new user monetization strategy, which allows channel owners to receive 50% of the revenue generated from ads displayed in public Telegram channels.

The announcement mentions that users can promote their channels by paying with Toncoin, with the flexibility to choose the channel for their ads. Channel owners will not be charged any fees to withdraw their earnings, although the withdrawal service is not yet operational.

Telegram highlighted the benefits of using the TON Blockchain for this feature due to its low fees, high transaction speeds, and capacity for processing a large number of transactions per second.

The blog emphasized that Telegram ads are exclusive to large public channels and do not appear in private chats or other interfaces on the platform.

With over 1 billion users, 800 million monthly users, and 196 million engaged daily users, Telegram provides a vast audience for advertising efforts.

Toncoin Price Analysis

Toncoin's intraday trading volume saw a significant increase of 63.48%, accompanied by a 3.49% rise in market capitalization. At the time of reporting, Toncoin was trading at $5.37, marking a 3.47% growth within the past 24 hours.

CoinMarketCap data reveals that Toncoin's price has surged by 97.31% in the last 30 days, with an all-time high of $5.84. Wallet addresses holding various amounts of TON show a diverse distribution among users.

TON/USDT is the most traded pair for Toncoin, predominantly on OKX exchange, positioning Toncoin as the 11th most prominent cryptocurrency by market capitalization.

Cryptocurrency Market Update

The cryptocurrency market capitalization experienced a 1.12% decline in the previous 24 hours, totaling $2.64 trillion. Bitcoin faced a 1.12% intraday drop, trading at $69,894.

Ethereum (ETH) boasted a market capitalization of $427.4 billion, with a 3.05% price increase in the past week. The market sentiment, as indicated by CoinMarketCap's greed and fear index, currently reflects significant greed.

Recently introduced memecoin, Dogwifhat (WIF), displayed remarkable growth within days of listing, soaring by 2515% from its inception. Core (CORE) and Dogwifhat (WIF) emerged as top gainers in the last seven days, with Conflux (CFX) experiencing a 10.36% intraday decline, trading at $0.4265.

Disclaimer

The insights and opinions shared in this article are solely for informational purposes and should not be construed as financial or investment advice.