"Wow, is TON going to break $2 anytime soon?"
Almost three years after revealing plans to build a Web3 ecosystem, popular messaging service Telegram on Wednesday announced the launch of a cryptocurrency wallet during the Token2049 event in Singapore.
The crypto wallet developed on The Open Network (TON) blockchain is now available to 800 million Telegram users worldwide.
Following the launch, the price of TON managed to jump massively to break through $1.97 from $1.60 on September 11, 2023.
According to the TON Foundation in a recent statement, projects built on the TON blockchain will get priority access to their messaging application advertising platform called Telegram Ads.
Currently, the wallet feature will be available in settings for current users, then the global launch will begin in November 2023 but will not include the United States (US) and some other countries.
It is already known that Telegram plans to integrate a crypto wallet based on TON as early as 2019, but their efforts had to be temporarily stopped in 2020 after the Securities and Exchange Commission (SEC) filed a lawsuit against the platform.
This is because the SEC claimed Telegram was an unregistered security, but the problem was resolved when the messaging platform was fined $18.5 million and promised to refund investors any unspent funds.
As of this writing, the price of TON has risen by 5.80% to $1.92 in the last 24 hours with a market capitalization of $6 billion and has recorded an increase of around 5.67% over the last week.
