It’s been around 2 years since the US Securities and Exchange Commission (SEC) halted operations of Telegram‘s crypto subsidiary TON and the Gram token they were developing. This is after an early sale of $1.7 billion went through without any form of registration with the appropriate governing bodies. After that long hiatus though, it appears that Telegram is back with its crypto efforts. TON has announced through Twitter that TONCoins can now be sent directly within Telegram chats, with no transaction fees whatsoever.
How does this work? Well, TONCoin is designed to be easy to operate. Just open a Telegram chat, install the TON bot, and your crypto should be good to go whenever you need it. Transactions can be sent, received, and wholly performed over the chat within the application. This leads to hassle-free transactions much like any e-wallet will provide you but in crypto. Keep in mind that keeping cryptocurrencies means that the value will change over time – whether for better or for worse.
TONCoin isn’t currently available on the leading crypto exchanges such as Binance and Coinbase though. Availability is currently limited to those you see above, of which PancakeSwap and Uniswap you may recognize. Given that, it might be difficult to cash out this Telegram crypto token at the moment (for crypto casuals). However, we expect that it will be listed as popularity and usage both increase. The token is now valued at $1.86 apiece.
As of writing, the platform has around 53 million transactions with approximately 500,000 distinct wallets. The website also boasts its advantages over Ethereum and Solana, both leading cryptocurrencies at the moment. We’ll have to wait and see whether this coin will grow to the extent that the company expects, or will it be a flop?
Featured image: Arover
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