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Telegram becomes an all-encryption-based app, what will happen to TON? — TradingView News

Published

3 months ago

5 May, 2024

Meme Coin Price Drop Continues, Data Says - TradingView News

After months of Elon Musk joking about turning .

In a recent interview with Tucker Carlson, the Telegram founder praised Musk for his innovative mindset and efforts to build the SocialFi platform, with the goal of empowering content creators with fair returns in terms of advertising revenue.

SocialFi represents a fusion of social media and decentralized finance (DeFi), giving users control over their content without relying on central authority. Creators retain ownership of their content and data, unlike Web2 platforms. Users can monetize their engagement and following without limitations, opening up new financial opportunities.

With Telegram’s recent adoption of TON, Tether, and other features, the platform has attracted more attention than ever from the crypto community.

Does TON belong to Telegram?

The open network TTON was initially developed by Telegram, but a subsequent legal battle with the US Securities and Exchange Commission saw the messaging application abandon its development efforts in May 2020.

The blockchain was originally designed to integrate with Telegram, but its initial attempt was thwarted by the US Securities and Exchange Commission. Telegram managed to reunite with TON after the network was relaunched by independent developers, making it the only major messaging platform to incorporate Web3.

In a post titled “What was TON and why is it over,” Telegram’s CEO said he made the decision in response to a US court banning Telegram from distributing its Gram tokens anywhere in the world. Durov wrote:

“The American court declared that Grams could not be distributed not only in the United States, but globally. Why? Because, it is said, an American citizen may find a way to access the TON platform after its launch,” Durov complained.

Durov decided to separate from TON, which became an independent community of validators and launched the TON blockchain independently from Telegram on May 7.

However, Telegram approved TON in September last year, saying the blockchain and associated token would be its “official Web3 infrastructure.”

“To limit Telegram’s TON share to ≈10% of supply, we will sell the upcoming surplus of our TON holdings to long-term investors – with a 1-4 year lockup and vesting plan, but at a discount in the market This will lock in the floating TON, stabilizing the ecosystem and reducing volatility,” he said

New Web3 infrastructure

In September 2023, Telegram introduced its long-awaited crypto wallet built on the TON blockchain.

The TON Foundation announced that projects operating on the TON blockchain will receive priority access to Telegram’s advertising platform, Telegram Ads. While the wallet feature is currently available in settings for existing users, the global rollout is expected to begin in November, excluding the US and some other countries.

In February 2024, Telegram revealed a plan to share advertising revenue with channel owners and pay rewards using Toncoin TTON token. Telegram recently implemented this plan and allowed users to purchase in-platform advertisements with TON.

On March 31, Telegram introduced a reward system that would allow channel owners with consistent subscribers to earn 50% of revenue from ads shown on their channels in Toncoin TTONthe project’s native cryptocurrency.

Durov said that 50% of the revenue Telegram receives from viewing ads and broadcast channels will be shared with channel owners and content creators who use TON’s network.

To further extend the Web3 infrastructure, Telegram plans to tokenize its stickers and emojis into NFTs on the TON blockchain. This announcement was made at the Token2049 event in Dubai, where Durov highlighted the potential of socially relevant NFTs embedded in human culture and communication.

Tether joins Telegram

In a big move with potential game-changing repercussions, Tether recently launched its USDT and Tether Gold (XAUT) token on TON, marking a significant expansion to 15 blockchains. The integration with Telegram, which boasts over 900 million users, is expected to enable seamless peer-to-peer (P2P) payments within Telegram’s user base.

By introducing USDT and XAUT to TON, Tether aims to improve value transfer between users in the TON ecosystem and other blockchain networks, with increased speed and reduced costs.

💎 𝐓𝐎𝐍 𝐱 @Tether_to 💎$USDt – $TON Reaches $100 million USDt issued and circulating in less than 2 weeks 🤯💎

This is Tether’s fastest growing USDt launch in Web3 history.#TONxTelegramxTether pic.twitter.com/HcavE5h7TY— TON 💎 (@ton_blockchain) May 3, 2024

The addition of USD₮ and blockchain technology.

The Open Network claims to “revolutionize” global peer-to-peer payments, allowing Telegram users to send money instantly without needing a blockchain address or downloading a new app.

Notably, USDT to TON will be complemented by fully integrated on-ramps that support most fiat currencies globally. Additionally, integrated global on-ramps will facilitate users’ withdrawal of supported fiat currencies directly to their bank accounts or cards.

The TON Foundation has allocated 11 million TON tokens as incentives to encourage adoption. Five million TON will be used to boost rewards in USDT/TON liquidity pools at TON decentralized exchanges (DEX) such as StonFi and Dedust.

Another 5 million TON will be distributed to users who deposit USDT into Telegram’s Earn Wallet campaign. Furthermore, withdrawals to TON from supported exchanges such as OKEx, Bybit and KuCoin will be free for all users until the end of June 2024.

Community leader TON urged other cryptocurrencies to join:

Even more money for TON builders!

DeFi Team of $ETH, $SOL, $AVAX: It’s time for diversification and mass adoption within Telegram.

Just the same DeFi you’re building, but for 900 million people ready to start using it. https://t.co/nDouHV96Od— Alenka | @TON Foundation 💎 (@alenka_w3) April 18, 2024

New investment

Following the news of Tether’s involvement in Telegram, Pantera Capital, a multi-billion dollar hedge fund and venture capital firm, announced its investment in the platform.

Pantera sees TON as a platform to broaden cryptocurrency adoption, predicting TON’s continued growth among Telegram users, highlighting its scalability and cost-effectiveness.

“We believe that TON has the ability to introduce encryption to the masses because it is widely used within the Telegram network. Telegram has over 900 million monthly active users on its future-oriented, fast and secure messaging platform used for personal purposes and group communications, large-scale community building, content sharing and more,” the company said.

Toncoin price

In February, Toncoin undertook a series of initiatives, demonstrating continued positive momentum. The most recent initiative involved the distribution of 30 million tons for user participation in ecosystem projects.

At the end of March 2024, Toncoin TTON rose 31.83% to $3.68, hitting a two-year high, boosted by anticipation of Telegram’s impending IPO. Trading volumes per TON increased by 301.96% to $269 million. Source: CoinMarketCap

The integration of the TON wallet into Telegram led to an almost 7% increase in the price of Toncoin after the announcement. Following the disclosure of the partnership with Tether, the price of Toncoin reached $8.02.

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Meme Tokens Surpass Bitcoin in Turkish Trading Activity This Year

Published

2 hours ago

27 July, 2024

TokenTalk Staff

Meme Tokens Surpass Bitcoin in Turkish Trading Activity This Year

The Turkish cryptocurrency market has seen significant growth in recent years. Currently, more than half of the population invests in cryptocurrencies, according to surveys and polls.

This is evident from the fact that the Turkish Lira (TRY) is the fourth most used fiat currency in cryptocurrencies. Several macroeconomic factors are fueling this crypto adoption in the country. Therefore, stablecoins and meme coins have emerged as the favorites of Turkish investors, even surpassing Bitcoin.

Stablecoins and meme coins dominate Turkish trade

According to the latest relationship According to Kaiko, Turkey’s inflationary conditions have significantly increased stablecoin usage in recent years. In 2024, the research firm found that USDT-TRY dominates as the largest trading pair by volume on Binance, reaching over $22 billion, more than five times larger than the next largest pair, PEPE-USDT, which has $4 billion.

Notably, meme tokens have surpassed Bitcoin in terms of trading volume this year, indicating that Turkish traders are also turning to more speculative cryptocurrencies to hedge against currency fluctuations and make profits.

The increased usage of stablecoins is further reflected in the main Bitcoin trading pairs on BTCTurk, which are BTC-USDT and BTC-TRY.

One of the main reasons driving the adoption of cryptocurrencies is Turkey’s fight against double-digit inflation and the currency devaluation for years, with an average inflation rate above 40% over the past five years. In response, the central bank adopted an unorthodox monetary policy, cutting rates until June 2023. However, this worsened the devaluation of the Turkish lira, which lost more than 300% of its value from the end of 2020 to the end of 2023.

Turkey’s decision to normalize its monetary policy after the 2023 elections failed to restore confidence in the TRY, whose value continued to decline in 2024, albeit less rapidly.

Binance Sees Strong Expansion in Türkiye

Amid economic challenges, Binance has strengthened its position as one of the two largest trading platforms for Turkish traders, thanks to deep liquidity and low fees. As part of a large-scale zero-fee campaign, it offered zero fees for BTC-TRY trading between July 2022 and March 2023.

Offering a wide range of TRY-denominated trading pairs and aggressively adding new pairs in recent years have helped Binance maintain its leadership in the country despite the 2022 cryptocurrency bear market. Binance introduced 61 new TRY trading pairs in 2024 alone, bringing the total number to over 200.

Other exchanges, such as Gate.io, KuCoin, and OKX, have jumped into the Turkish crypto ecosystem, but their overall market share remains less than 1%.

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News

Top 5 PolitiFi Tokens to Buy Now for MAX Profits

Published

4 hours ago

27 July, 2024

TokenTalk Staff

Coinpedia - Fintech & Cryptocurreny News Media

With the US presidential election fast approaching, the cryptocurrency world is buzzing with new trends. In addition to the well-known cartoon-themed meme coins, a new category is making waves: PolitiFi tokens. Did you see that coming?

These politically themed crypto tokens are gaining attention, especially those centered around former President Donald Trump. Today, we explore the 5 trending Trump-themed PolitiFi tokens.

Stock up to benefit later!

1. Trump (Magazine)

Launched about a year ago, the Trump-themed MAGA token has caused quite a stir in the cryptocurrency ecosystem. Inspired by Donald Trump’s slogan “Make America Great Again,” the MAGA token has produced an astonishing 35 million percent return since its inception. Currently trading at $5.65, it has fallen 8.80 percent in the past 24 hours.

Despite this, the token’s trading volume increased by 23.23%, bringing its market cap to $248 million and securing the 220th spot on CoinMarketCap.

Source: Dexscreener

2. MAGA (MAGA)

Another token with the same ticker, MAGA, is also trending in the PolitiFi category. With 390 billion tokens in circulation, this MAGA token has seen a 11.08% price drop over the past 24 hours, but an 81.39% increase in trading volume. Currently trading at $0.0001337, it is ranked 21st on Dexscreener’s trending list and 522nd on CoinMarketCap. Despite being only two months old, it has provided early adopters with a remarkable profit of 313,373.62% at its all-time high of $0.0007354.

Source: Dexscreener

3. Super Trump Coin (STRUMP)

Super Trump Coin, a meme token depicting Donald Trump as Superman, has a circulating supply of 1.8 billion tokens. Over the past 24 hours, its trading volume has increased by 39.88%. Currently trading at $0.01112, it has dropped by 6.07% over the past 24 hours, but holds a CoinMarketCap rating of 776. From its all-time high of $0.03085, it has dropped by 64.06%. Despite this, its impressive short-term returns have made it a favorite among Trump crypto enthusiasts.

Source: Dexscreener

4. MAGA Vice President (MVP)

Launched just four months ago, MAGA VP has yet to break into the top 1000 cryptocurrencies on CoinMarketCap, currently ranked 1231st. With a value of $0.128, its trading volume has increased by 21.79% over the past 24 hours, with a market cap of $5.3 million. While it is up 110% at its current price, it is down 83.24% from its all-time high of $0.7706.

Source: Dexscreener

5. Little Trump

One of the most unique Trump-themed tokens is Baby Trump, which depicts Donald Trump as a baby president. With a circulating supply of 406 million tokens, it has a market cap of $3.5 million at a trading price of $0.008616. Although its price has dropped 9.45% in the last 24 hours, its trading volume has increased by 4.29%. At its peak, Baby Trump’s market cap was $11 million.

Notably, Baby Trump is the only token among the five analyzed to be based on the BNB Smart Chain, while the others are based on the Ethereum network.

Source: Dexscreener

It’s an exciting time for cryptocurrencies

The current political climate in the United States is spawning a new wave of meme tokens themed around various political figures. Among them, Trump-themed PolitiFi tokens are experiencing the most significant surge in popularity. Support for Donald Trump in the crypto community seems to be a driving force behind the success of these tokens.

Do you think Trump-themed PolitiFi tokens are here to stay or just a passing trend? Share your thoughts.

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News

Brett Token Price Soars 12%; Analyst Expects Further 30% Upside

Published

5 hours ago

27 July, 2024

TokenTalk Staff

Eight altcoins rally 10+% as volatility swings market

Brett, the largest meme coin in Blockchain Base, rose more than 12% on Friday, as sentiment in the cryptocurrency and stock sectors improved.

Brett (BRETT) the token rose to $0.133, up 31% from its low this month. Some traders believe the meme coin has more upside potential in the future.

Analyst is bullish on Brett

In an X-post, Michael van de Poppe, a trader with over 721,000 followers, said he is optimistic that the token will rise to $0.1712, up 30% from Friday’s trading level.

I’ve been a day trader for a long time and memes are a great way to gain that perspective.

Lots of volume.
And there’s a lot of volatility.

When it comes to $BRETTI would look for long positions in this area between $0.125-0.1325 and $0.170 as a clear identification of a potential bull run. photo.twitter.com/hWmSjCZGJa

— Michaël van de Poppe (@CryptoMichNL) July 26, 2024

If he is right, Brett’s market cap will surpass Floki’s (FLOKI), which has a market capitalization of $1.7 billion.

Brett’s bounce came at the start of the Bitcoin 2024 conference today. In a statement at the event, Robert Kennedy, an independent presidential candidate, noted that he is a big supporter of Bitcoin (BTC).

The main protagonist of the event will be Donald Trump, leading in most polls, included in Polymarket. Trump is expected to reiterate his support for cryptocurrencies. Analysts are divided on whether he will announce a Bitcoin reserve at this event.

Blockchain Base is doing well

Brett token also recovered as Base blockchain ecosystems continued to perform well. Launched in 2023 by Coinbase, Base has accumulated over $1.6 billion in DeFi assets, making it the sixth largest chain in the industry. It has surpassed popular networks like Cardano (ADA), Avalanche (AVAILABLE) and Polygon (MATIC).

At the same time, Brett and other altcoins jumped as the U.S. stock market rebounded, signaling that investors have embraced risk-on sentiment. The Dow Jones Industrial Average rose more than 600 points, while the S&P 500 and Nasdaq 100 jumped more than 80 basis points.

Brett Price

Brett Price Chart | Source: Trading View

Technically, Brett formed a morning star pattern, which is a popular reversal sign. In the past, the coin has risen by double digits when it has formed this pattern. For example, it formed on July 12 and then rose by 40%.

On the other hand, this bounce could be a dead cat bounce, where an asset briefly rises and then resumes its downtrend.

Fuente

News

Top 5 PolitiFi Tokens to Buy Now for MAX Profits

Published

6 hours ago

27 July, 2024

TokenTalk Staff

These politically themed crypto tokens are gaining attention, especially those centered around former President Donald Trump. Today, we explore the 5 trending Trump-themed PolitiFi tokens.

Stock up to benefit later!