Toncoin (TON) Achieves All-Time High as Telegram-Linked Cryptocurrency Amid IPO Speculations

Toncoin Reaches New All-Time High

Toncoin (TON) has recently reached a new all-time high amidst speculation surrounding a potential initial public offering (IPO) by Telegram’s founder.

• The price of Toncoin briefly surpassed the $7 mark, breaking its historical record.
• With Toncoin’s market cap surpassing that of Cardano (ADA), TON is now ranked as the ninth largest coin in the market, positioned above Cardano and Avalanche.

Trading Performance and Popularity

Despite a slight 0.3% drop in the current trading price over the past 24 hours to $6.8, Toncoin’s trading volume has increased by 20%, indicating its popularity among investors.

Telegram’s Plans for IPO

In a recent report by the Financial Times, Pavel Durov, the founder of Telegram, expressed interest in pursuing an IPO rather than a private sell-off.

• Durov mentioned that Telegram is on track to become profitable, with plans to achieve profitability in the near future.
• With 900 million monthly active users and significant revenue, Telegram has attracted valuation offers exceeding $30 billion from global tech funds.
• Despite lucrative offers, Durov aims to maintain Telegram’s independence by not selling the platform.

Potential IPO in the US

Reports suggest that Telegram may consider a U.S. listing once it becomes profitable and market conditions are favorable.

• While no specific timeline or venue for the IPO has been disclosed, Telegram has explored various options for its public offering.
• In a move reminiscent of Reddit, Telegram might offer shares to its dedicated users in the event of an IPO, democratizing access to its value.