Rally

2024

United

Spot

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
In the midst of fervent anticipation surrounding Telegram's potential IPO, the cryptocurrency market witnessed a significant surge in the&nbsp;<a href="https://u.today/binance-to-list-telegram-open-network-ton-price-surges-by-10" rel="noopener noreferrer nofollow">Toncoin (TON)</a> price, skyrocketing by a staggering 26% within the past 24 hours.&nbsp;
The excitement stems from reports earlier this week by the Financial Times, revealing that Telegram, the renowned messaging platform, is on the brink of going public, with a preliminary valuation pegged at a substantial $30 billion. With a user base nearing the monumental milestone of 900 million, Telegram stands as a formidable force in the tech industry, nearing profitability. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="167cf7c8-d96c-4f3b-aa76-9e5dd55cb76e" src="https://u.today/sites/default/files/inline-images/toncoin.png">TON to USD by <a href="https://coinmarketcap.com/currencies/toncoin/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
Adding fuel to the fire,&nbsp;<a href="https://x.com/spotonchain/status/1767782825925693725?s=20" rel="noopener noreferrer nofollow">Spot On Chain</a>, a cryptocurrency analytics platform, disclosed intriguing activity involving an unidentified investor, known only by the address "0x1ee." This mystery investor splurged 214 ETH, equivalent to approximately $852,000, within the last 25 hours, acquiring a substantial 209,237 TON tokens at an average price of $4.07. Notably, this undisclosed whale has been particularly successful, boasting a commendable win rate of 66.6% and raking in an estimated profit of $2.48 million from six out of nine trades.
<blockquote>
 The <a href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$TON</a> price surged ~26% (24H) amid a potential IPO of <a href="https://twitter.com/hashtag/Telegram?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Telegram</a>.Whale 0x1ee has spent 214 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> ($852K) to buy 209,237 <a href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$TON</a> at ~$4.07 in the past 25 hours.Note that the whale is currently earning an est. total profit of $2.48M from 6 of 9 traded tokens (win rate: 66.6%).… <a href="https://t.co/c7Eps1dEsX" rel="noopener noreferrer nofollow">pic.twitter.com/c7Eps1dEsX</a>— Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1767782825925693725?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 13, 2024</a>
</blockquote>
The convergence of these developments has amplified the buzz surrounding Telegram's IPO and the meteoric rise of the TON token. Investors and enthusiasts are closely monitoring the unfolding events, speculating on the implications of this undisclosed investor's involvement amid the IPO hype.&nbsp;
While Telegram and&nbsp;<a href="https://u.today/toncoin-ton-skyrockets-35-as-pavel-durov-unleashes-epic-telegram-monetization" rel="noopener noreferrer nofollow">TON</a> are separate entities, their intertwined histories and shared ecosystem have propelled them into the spotlight once again. Notably, Telegram distanced itself from TON's blockchain platform in 2020, following regulatory challenges in the United States.

Mysterious Whale Joins Telegram IPO Hype and TON Price Rally

U_Today

Other articles published on Mar 13, 2024

Tron Network Faces Security Speculations and Market Dynamics

Breaking: MicroStrategy Set to Raise Additional $500M to Buy More Bitcoin

Revolutionizing Online Customer Support: The STech AI Solution

Radiant Capital (RDNT) Hits Nine-Month High: Will Bullish Rally Continue?

Here’s Why PEPE Holders Shouldn’t Celebrate the Recent All-Time High Price Just Yet

The Dencun upgrade, the biggest Ethereum update ever is now live on the Ethereum mainnet

Join our free newsletter for daily crypto updates!