12/7/2023 0 Comments Iota reddit review![]() ![]() Telegram's Wallet Pay operates as a custodial wallet, simplifying the transaction process and providing users with enhanced security and convenience. So far, though, only 2 million members have registered as users of the messaging app's Wallet services. These digital assets are seamlessly integrated into the service, ensuring a user-friendly experience for Telegram's vast user base. The Wallet currently offers support for three major cryptocurrencies: BTC, USDT, and TON. It is to fund the app's continued growth that the company issued $270 mln worth of Telegram bonds this week, building upon its existing bonds until it reaches the break-even point.Īpart from this, last week, Telegram also introduced Wallet Pay to enable merchants to accept crypto payments directly via the app. ![]() Durov, however, did emphasize that it is closer to profitability in absolute numbers compared to its competitors like Twitter and Snap. He further reassured users of Telegram's successful start with monetization efforts in the previous year, although they are not yet profitable. The app actually surpassed 800 million monthly active users earlier this year.ĭurov also touched upon higher expenses on storage and traffic required to serve such a vast user base. In his Telegram announcement, Durov further revealed significant milestones, stating that over 2.5 million new users register for the messaging app daily, contributing to the platform's impressive growth. He has previously said he owns BTC, having spent $1.5 million on 2,000 Bitcoin a decade ago. But I prefer to stay focused on my work without ‘owning' anything (well, apart from Telegram, some Bitcoin, and some Toncoin),” said Durov. “Some people suggested I should have instead bought a house or a jet. Durov's latest investment in Telegram has been in addition to the significant amount he has already spent over the last decade to keep the app operational. Durove has bought a quarter of the $270 million of newly issued Telegram bonds, demonstrating his commitment to growth. The price of TON rose this week after Telegram chief executive and founder Pavel Durov confirmed that he owns Toncoin, the cryptocurrency adopted by the popular messaging app.ĭurov made the announcement on his personal Telegram channel, where he also shared that he is reinvesting in the company. Telegram abandoned the project in 2020, which was then taken over by The TON Foundation, which is now responsible for the development process.Ĭlick here to learn all about investing in The Open Network (TON). TON was formerly known as Gram which later faced legal challenges in the US, with the Securities and Exchange Commission (SEC) considering it a security. The TON blockchain project was originally created by brothers Nikolai and Pavel Durov and developed by the Telegram team. This newly released wallet extension brings added convenience and functionality as users can now gain seamless access to a wide range of DeFi protocols. 2021.Īmidst this price action, Toncoin released a wallet extension specifically designed for decentralized finance (DeFi), aiming to enhance user experiences and accessibility as the DeFi space continues to evolve rapidly. 2021 while being down over 74% from its $5.29 peak in Nov. The cryptocurrency is also in the green by 165.82% since hitting its all-time low at just under $0.52 in Sept. TON's price is still up 2.3% in the past week and has rallied more than 45% over the past year. But ever since April, it has been on a downtrend and is currently down 34.7% year-to-date (YTD). TON started this year at around $2.10 and went on to hit $2.55 in late Jan. Unlike the broad crypto market, TON didn't have a positive start to 2023 rather, the token surged in the second half of 2022 from about $0.80 in late July to $2.70 in Dec. The traces of green came as the market activity for the crypto asset saw traction, with TON's trading volume increasing by 134.3% from a day ago to $15.18 million on Wednesday. The 30th largest cryptocurrency by market cap is still in the green by 2% against USD as well as 1.5% and 1.3% against BTC and ETH, respectively. The $2 billion market capitalization coin TON jumped 6.77% to $1.42 early on Wednesday before giving back these gains to now trade at $1.36. ![]()
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