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As with many other financial markets, the crypto market can be overwhelming. There are thousands of tokens to check out and hundreds of indicators that affect them. Tracking all of these things is tasking and only a few investors can successfully do so.
However, sometimes things are much simpler to observe and understand. For example, positive news can drive up the price of an asset. This looks to be happening with Toncoin (TON), rising in the wake of the Telegram IPO. We track this and predict the future of Toncoin (TON) as well as a new project, DeeStream (DST).
Toncoin (TON) Benefitting From Telegram IPO
To properly understand the connection between Toncoin (TON) and Telegram, we need to dive into a bit of history. In 2018, the social media platform Telegram was considering launching its own blockchain and crypto meant to compete with Ethereum (ETH). It would begin development and even raise funds for the project. Unfortunately, Telegram was confronted by the SEC and several legal challenges and dropped the project.
Other developers not affiliated with Telegram but favoring the idea would then pick it up and fully develop Newton, eventually becoming Toncoin (TON meaning “The Open Network”). However, Telegram never stood too far away and even gave the token some endorsement after its full launch. Because of this history, Toncoin (TON) is still looked at as a Telegram project despite their separation.
With news reports that Telegram may be launching an IPO soon, Toncoin (TON) is climbing quickly. At the time of writing, Toncoin (TON) is close to 2x in under three days. It seems these reports are valid and should the IPO launch,
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Author: Crypto Daily
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