Telegram, the renowned messaging platform, recently unveiled a new feature that allows users to promote their channels through advertising. With the launch of this feature, users can now purchase advertising space using Toncoins (TON), the native cryptocurrency powered by the TON blockchain.
Telegram implements TON Blockchain for ad payments
Recognizing the potential of channel owners to generate advertising revenue, Telegram’s announcement that channels collectively rack up over 1 trillion featured views each month.
Taking advantage of this opportunity, Telegram implemented a revenue sharing model, allowing channel owners with a minimum of 1000 subscribers to receive 50% of the advertising revenue generated from advertisements displayed on your channels.
The decision to integrate the TON blockchain into this feature was driven by several reasons, as noted in the social media platform’s announcement on Sunday:
We chose TON Blockchain because it has low fees, high transaction speeds – and has a record for the number of transactions it can process per second. Anyone can now promote their bot or channel – with budgets as low as a handful of Toncoins. When you create an ad on Telegram, you choose the exact channels where you want it to appear, so you have full control over their context.
Telegram CEO Pavel Durov had already emphasized the importance of fast and secure payments and withdrawals, expressing that the TON blockchain would be the exclusive platform for these transactions. Durov stated:
To ensure that 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 on Toncoin. This will create a virtuous circle, in which content creators will be able to withdraw their Toncoins — or reinvest them in promoting and updating their channels.
TON shows bullish momentum
As Telegram unveils these new features and developments that could significantly increase adoption and usage of the Ton Tokenthe cryptocurrency responded positively.
Over the past 24 hours, TON is up over 5%, reaching a current trading price of $5.30. This increase comes on top of the impressive 100% price increase in the last 30 days alone.
Notably, the announcement also caused a substantial increase in TON’s trading volume, which skyrocketed to $234,869,370 in the last 24 hours. This represents an increase of more than 74% compared to Sunday’s trading volume, according to CoinGecko data.
Furthermore, the TON token is approaching its all-time high (ATH) of $5.69, reached on March 25. With the introduction of these new features on Telegram and the notable increase in trading volume, the token appears to be on the verge of setting a new ATH in the coming days if demand continues to increase.
However, the token must overcome the significant resistance level at $5.45 for this scenario to develop. This price level has proven to be a Obstacle for the token as it tried thrice to breakout and consolidate above it to reach a new ATH but failed. Overcoming this resistance level is crucial before the token can approach new ATH levels.
On the TON/USD 4-hour chart, the support level that could potentially stop a price correction following the recent uptrend is $5.26. This support level acts as a buffer to prevent a significant downward correction in price.
Featured image from Shutterstock, chart from TradingView.com
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