Toncoin (TON), the native crypto of the popular messaging app Telegram, has surged in recent days, reaching a nearly year-long high.
The price increase has been attributed to a number of factors, including the launch of a new “Giveaways” feature on Telegram, the purchase of TON by Telegram CEO Pavel Durov, and the cryptocurrency’s growing popularity among users.
On November 7, Telegram launched a new Giveaways feature that allows users to create and participate in cryptocurrency giveaways.
The feature is currently only available for TON, but Telegram has said that it plans to add support for other cryptocurrencies in the future.
The launch of the Giveaways feature has sparked a surge of interest in TON, as users are eager to participate in giveaways and win free tokens. As a result, the price of TON has jumped by nearly 20% since the feature was launched.
Adding to the excitement, Telegram CEO Pavel Durov recently announced that he had purchased $200,000 worth of TON to use for user subscriptions. Durov’s purchase is a strong signal of his confidence in TON and its potential as a payment platform.