TON Skyrockets 25% As Telegram Unveils New Revenue Sharing Feature, Crossing $3 Mark
29 February 2024 - 7:00AM
NEWSBTC
In a notable development for the cryptocurrency world, Telegram,
the popular social media platform, has introduced an ad
revenue-sharing system for channel owners on its native blockchain
TON. This move has resulted in a significant 25% price spike for
TON, surpassing the $3,016 mark. Previously known as Gram, TON is
the native cryptocurrency of The Open Network (TON), a
decentralized Layer 1 (L1) protocol. With the introduction of this
new feature, Telegram aims to create a mutually beneficial
ecosystem where channel owners can be financially rewarded for
their efforts. Telegram Introduces TON For Channel Monetization
According to Pavel Durov, CEO of Telegram, channel owners on the
platform will be able to receive financial compensation starting
next month. This announcement has generated considerable excitement
among content creators eagerly awaiting an opportunity to monetize
their channels. With a significant one trillion monthly views
generated by broadcast channels on Telegram, the potential for
revenue generation is immense, Durov believes. However, only 10% of
these views are monetized using Telegram Ads, a privacy-focused
promotion tool. Related Reading: BREAKING: Bitcoin Price Smashes
Above $60,000: Are New ATHs Ahead? Telegram’s ad platform will be
available to advertisers in nearly one hundred new countries in
March. This expansion will allow channel owners in these countries
to receive 50% of the revenue generated from ads displayed on their
channels, incentivizing content creators and driving the growth of
Telegram’s ad ecosystem. Telegram CEO Durov further noted: To
ensure ad payments and withdrawals are fast and secure, we will
exclusively use the TON blockchain. Similar to our approach with
Telegram usernames on Fragment, we will sell ads and share revenue
with channel owners in Toncoin. This will create a virtuous circle,
in which content creators will be able to either cash out their
Toncoins — or reinvest them in promoting and upgrading their
channels As announced, all transactions, including payments and
withdrawals, will be settled on the TON blockchain, built by the
same company that created Telegram, which reported 800 million
monthly users as of July 2023. TON Bullish Momentum Points Towards
Potential New ATH When the announcement was made in the early hours
of Wednesday morning, TON experienced a significant spike, sending
its price as high as $3.172. This level had not been seen since
November 2023, when the token hit its all-time high (ATH) of
$3.215. The current bullish sentiment surrounding TON, coupled with
the potential for wider adoption and use, suggests the possibility
of a new ATH shortly. This is further supported by the overall
market entering an aggressive bullish phase. Related Reading:
Ethereum Price Primed To Hit $3.5K After Bitcoin Rallies Past $60K
Despite the volatility exhibited by TON, as seen on the weekly
TON/USD chart, there are no significant resistance levels ahead.
Therefore, the outcome of a potential new ATH depends on the
ability to sustain the current bullish trend. Featured image from
Shutterstock, chart from TradingView.com
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