Toncoin

Base

Million

Polygon

Chainlink

Toncoin (TON) has experienced a notable uptrend in recent weeks, driven by significant news and announcements surrounding the popular social media platform Telegram, the latest being a potential initial public offering (IPO).&nbsp; 
<h2 id="telegram-user-base-surpasses-900-million">Telegram User Base Surpasses 900 Million</h2> 
According to his latest appearance, aside from his constant announcements through his channel on the social media platform, <a href="https://www.newsbtc.com/toncoin-ton/telegram-ceo-responds-to-concerns-offers-solution-to-restrict-companys-ton-stake-to-10/" target="_blank" rel="noopener ">Pavel Durov</a>, the CEO of Telegram, shared that the messaging app has amassed over 900 million users, up from 500 million in 2021, and is steadily approaching profitability.&nbsp; 
In an <a href="https://www.ft.com/content/8d6ceb0d-4cdb-4165-bdfa-4b95b3e07b2a" target="_blank" rel="noopener nofollow">interview </a>with the Financial Times, Durov revealed that Telegram’s introduction of advertising and premium subscription services two years ago has enabled the company to generate “hundreds of millions of dollars” in revenues. With yearly expenses at less than 70 cents per monthly user, Telegram’s financial growth is gaining momentum. 
Telegram is implementing various strategies as part of its ongoing efforts to generate revenue. As <a href="https://www.newsbtc.com/toncoin-ton/ton-skyrockets-25-as-telegram-unveils-new-revenue-sharing-feature-crossing-3-mark/" target="_blank" rel="noopener ">reported </a>by NewsBTC, the company is planning to introduce revenue sharing with channel creators, offering them a 50% share of the marketing budget.&nbsp; 
Additionally, Telegram is launching business accounts and a “social discovery” feature, which will reportedly facilitate user interaction and help connect individuals nearby. These initiatives aim to diversify Telegram’s revenue streams and provide additional value to its user base. 
<h2 id="potential-valuation-exceeds-30-billion">Potential Valuation Exceeds $30 Billion</h2> 
Telegram has reportedly garnered significant interest from potential investors, with offers exceeding $30 billion in valuation. However, during the interview with the Financial Times, Durov emphasized that the company’s priority is to remain independent, and an IPO would serve as a means to “democratize” access to Telegram’s value. Durov stated: 
<blockquote>
 The main reason why we started to monetize is because we wanted to remain independent. Generally speaking, we see value in [an IPO] as a means to democratize access to Telegram’s value.
</blockquote> 
While Durov did not provide a specific timeline or venue for the potential IPO, two people familiar with the matter told the Financial Times that Telegram may pursue a <a href="https://www.newsbtc.com/toncoin-ton/ton-jumps-by-nearly-8-following-wallet-integration-on-telegram/" target="_blank" rel="noopener ">US listing</a> once profitability is achieved and market conditions are favorable.&nbsp; 
Notably, the messaging app platform has already raised approximately $2 billion in debt financing through bond offerings, providing flexibility for future financial decisions. 
In the event of an IPO, Telegram is considering selling an allocation of stock to loyal users, similar to Reddit’s recent <a href="https://bitcoinist.com/reddit-joins-crypto-discloses-bitcoin-holdings/" target="_blank" rel="noopener nofollow">announcement</a>. This approach aims to involve the community and foster a sense of ownership.&nbsp; 
Furthermore, Telegram is exploring the possibility of a smaller equity raise to fuel its artificial intelligence (AI) ambitions, including introducing an <a href="https://www.newsbtc.com/news/surging-toncoin-price-and-telegram-bot-tokens-whats-the-connection/" target="_blank" rel="noopener ">AI-powered chatbot</a>. The company also plans to enhance its moderation processes and deploy AI-related mechanisms to address potential issues, particularly during global elections. TON Climbs The Ranks 
With Telegram’s endorsement and integration of TON into the app’s user interface and introducing a new ad revenue-sharing system, Toncoin has surged 97% in the past month, marking new yearly highs for the token.&nbsp; 
In addition, Telegram’s potential initial public offering has further bolstered Toncoin’s <a href="https://www.newsbtc.com/altcoin/toncoin-ton-shoots-up-50-in-7-days-this-telegram-feature-cranks-up-demand/" target="_blank" rel="noopener ">upward trajectory</a>, with a 20% spike in the past 24 hours, resulting in a current trading price of $4.40. 
<img loading="lazy" decoding="async" class="size-large" src="https://www.tradingview.com/x/HZdZRnGy/" alt="Telegram" width="1815" height="858"> 
On top of that, TON has climbed into the top 13 largest cryptocurrencies on the market with a capitalization of $15 billion, surpassing other major coins such as Polkadot (DOT), Polygon (MATIC) and Chainlink (LINK).&nbsp; 
Featured image from Shutterstock, chart from TradingView.com&nbsp;

Toncoin (TON) Hits New Yearly Peaks, Surging 60% On Buzz Surrounding Potential Telegram IPO

Table of Contents

NewsBTC

Other articles published on Mar 13, 2024

5 Undervalued Cryptocurrencies Ready for 500% Growth

Bitcoin Breaks $73,000 Mark, Reaching 4 New Highs In Less Than A Week

Galaxy Digital CEO Sees No Major Bitcoin Correction Ahead

Riot Platforms Powers Bitcoin with Waste Energy

Concerns Over Continuous Capital Inflows into Spot Bitcoin ETFs

Bitcoin Halving: A Catalyst for Greater Institutional Investment in Crypto?

Join our free newsletter for daily crypto updates!