Valuable Altcoin Announcement from Telegram: Price Jumped!

Messaging application Telegram made a valuable announcement. TON announced that its blockchain-based auction platform is almost complete and will be operational soon. This platform will allow usernames to be auctioned. Following Telegram’s announcement, altcoin project Toncoin (TON) experienced a sharp rise.

Telegram made a valuable announcement

In a tweet on October 21, TON Blockchain announced its platform for auctioning unique usernames. It announced its collaboration with the communication platform Telegram. As we reported, Pavel Durov, the founder and CEO of Telegram, announced the idea of ​​offering unique Telegram usernames a few months ago. It will allow users to buy and sell unique usernames on the TON Blockchain-based marketplace.

According to Telegram usernames, the development phase has been completed and the auction platform will be live soon. The platform offers users to obtain the most expensive usernames on the TON Blockchain and secure their ownership. Recently, TON held an auction for domain/wallet names. Wallet.ton was sold for 215,250 Toncoins worth approximately $260K, while casino.ton was sold for around $244K.

Pavel Durov believes that Telegram can achieve more favorable results thanks to its 700 million users. He aims to auction usernames, clusters and channel contacts. In addition, the plan includes all four-letter usernames such as @bank, @club, @game and @gift, as well as addresses such as @storm or @royal.

Altcoin price jumps

Telegram’s intention to isolate and auction private usernames signals a surge in investor interest. Telegram has recently announced a TON-based feature that allows users to buy and sell cryptocurrency directly to others. As a result of the announcement, the price of Toncoin (TON) rose. The cryptocurrency managed to rise from the levels of $ 1.26 to $ 1.42. At the time of writing, it’s changing hands at $1.41. It exhibits a 3.5 percent price gain in the last 24 hours.

The cryptocurrency has also been bullish in the wider time frame. It gained 13.2 percent in value in the last 7 days. It has risen close to 15% in the last 30 days. On an annual basis, it jumped by 81.2 percent. Still, it is trading below the record level of $5.29 set on November 12, 2021. The cryptocurrency has experienced a 73.3% drop since then.

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