A two-year high of $3.68 has been reached by Toncoin (TON) in the last 24 hours, thanks to a stunning 31.83% spike spurred on by the news that Telegram would soon be going public (IPO). According to CoinMarketCap, trading volumes have increased significantly by 301.96% to $269 million, indicating increased interest from traders.
This increase comes after major announcements such as Binance’s launch of perpetual futures trading for the TON token and Telegram Messenger’s plan to pay channel owners with cryptocurrencycurrency for marketing.
Telegram creator Pavel Durov alluded to the platform’s impending initial public offering (IPO) in a recent interview with the Financial Times, highlighting its remarkable 900 million users and approaching profitability.
According to Durov, prospective investors believe Telegram is worth over $30 billion, and they are committed to democratizing access to this value through an IPO.
Insiders anticipate a U.S. offering after profitability is reached and market circumstances improve, however Durov stayed silent about specifics of the IPO. The cryptocurrencycurrency world is excitedly awaiting Telegram’s possible release to the public, which will only serve to accelerate Toncoin’s explosive growth.
