Toncoin

In this rapidly evolving cryptocurrency landscape, Toncoin (TON) is gaining massive attention from investors as well as institutions following the potential IPO (Initial Public Offering) of Telegram. This speculation regarding the IPO of Telegram has caused Toncoin’s TON price to surge more than 22% in a single day and made an all-time high of $4.52.&nbsp; Why TON coin price is increasing? 
This news has not only gathered everyone’s attention but has also led crypto whales to inflow their funds into TON. However, this IPO of Telegram was highlighted by the founder and CEO Pavel Durov during an interview with local media. Pavel stated that the Dubai-based Telegram had grown to become one of the world’s most popular social media apps while making “hundreds of millions of dollars” in revenues after introducing advertising and premium subscription services two years ago.
Following this potential IPO, Toncoin’s TON is currently trading near $4.4, and in the last 24 hours, it experienced a price surge of over 22%. If we look at the performance of TON over a longer period, in the last 7 days, the TON coin price experienced a price surge of over 63%, whereas, in the last 30 days, TON holders gained more than 100% returns on their investment.
An on-chain analytic firm, spotonchain made a post on X (previously Twitter) that a crypto whale address 0x1ee following this interview has spent 214 Ethereum worth around $852K to buy 209,237 TON nearly $4.07 in the past 25 hours. Besides this, the same whale currently earns more than $2.48 million from similar 6 to 9 traded tokens. Data from an on-chain analytic firm highlights this whale has a win rate of over 66%.&nbsp;
The TON coin technical analysis 
According to expert technical analysis, TON is bullish and is trading just near its all-time high of $4.52. However, the major price surge that TON experienced was just after the breakout of the line of an inverted head and shoulder price action pattern. Since the breakout, TON has surged more than 54%, but to further surge, it is expected that TON might experience price consolidation or some retracement.&nbsp;
Whereas, earlier we saw similar things when CEO Pavel announced that the <a href="https://news.todayq.com/toncoin-skyrockets-25-following-telegrams-latest-announcement/" rel="noopener noreferrer nofollow">Telegram Ad Platform</a> would open its doors to advertisers across several countries. Additionally, the channel owners for these reasons will earn more than a 50% share of the revenue generated from ads displayed in their channels. Following that news, TON price soared more than 25%. However, the revenue shares of those channel owners will be done on the TON blockchain to ensure swift and secure transactions.
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Toncoin skyrockets 55% following Telegram’s IPO talks

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