Amid the fervent anticipation surrounding Telegram’s potential IPO, the cryptocurrency market witnessed a significant rise in Toncoin (TON) price, skyrocketing by a staggering 26% in the last 24 hours.
Amid the fervent anticipation surrounding Telegram’s potential IPO, the cryptocurrency market witnessed a significant rise in Toncoin (TON) price, skyrocketing by a staggering 26% in the last 24 hours.
The excitement stems from reports published earlier this week by the Financial Times, revealing that Telegram, the renowned messaging platform, is about to go public, with a preliminary valuation pegged at a substantial $30 billion. With a user base approaching the monumental milestone of 900 million, Telegram stands as a formidable force in the tech industry, approaching profitability.
Adding fuel to the fire, Point on the chain, a cryptocurrency analytics platform, revealed intriguing activity involving an unidentified investor, known only by the address “0x1ee.” This mystery investor spent 214 ETH, equivalent to approximately $852,000, in the last 25 hours, acquiring a substantial amount of 209,237 TON tokens at an average price of $4.07. In particular, this undisclosed whale has been particularly successful, with a commendable win rate of 66.6% and an estimated profit of $2.48 million on six of nine trades.
The convergence of these developments has amplified rumors surrounding Telegram’s initial public offering and the meteoric rise of the TON token. Investors and enthusiasts are closely following the unfolding events, speculating on the implications of this undisclosed investor’s involvement amid the IPO hype.
While Telegram and TON They are separate entities, their intertwined histories and shared ecosystem have put them in the spotlight once again. Notably, Telegram distanced itself from the TON blockchain platform in 2020, following regulatory challenges in the United States.
