Toncoin Price Soars 3% Amid Telegram’s New Currency Announcement, Here’s All

The unveiling of Telegram’s latest venture, Stars, has sent ripples through the cryptocurrency market, particularly influencing the trajectory of Toncoin. Stars, set to make its debut on June 12, represents a bold step by Telegram to revolutionize transactions within its ecosystem. Positioned as a digital currency tailored for seamless purchases within bots and gadgets, Stars has captured the imagination of the cryptocurrency community, sparking anticipation and speculation.

As news of Stars spreads, Toncoin experiences a notable surge in price, reflecting the market’s reaction to this significant development. Investors and enthusiasts alike closely monitor Toncoin’s performance, recognizing the potential implications of Telegram’s foray into the digital currency realm.

Developers’ Response to Telegram’s Stars Announcement

In the wake of Telegram’s announcement regarding Stars, developers within the ecosystem have been swift to react to the implications of this new currency. Notices circulated among developers, drawing attention to a dedicated channel named “Telegram Marketing,” where discussions surrounding Stars and its impact unfolded.

Of particular note were notifications from the App Store, cautioning Telegram against purported violations of its policies, specifically referencing paragraphs 4.7 and 3.1.1 pertaining to payment mechanisms. Within this context, developers were apprised of the option to purchase Stars through the App Store and Google Play, albeit with the caveat of a presumed 30% service commission.

Furthermore, users were afforded the opportunity to directly transact for services via bots and applications, presenting a cost-effective alternative to conventional payment channels. Notably, examples such as the PremiumBot in Telegram showcased the potential for discounted subscriptions, underscoring the evolving dynamics within the cryptocurrency landscape.

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Tocoin’s Current Status and Binance Integration

As of the latest update, Toncoin (TON) commands a price of $6.46, accompanied by a robust 24-hour trading volume totaling $430.3 Millions. This upward trajectory reflects a notable 2.66% increase within the past day, indicative of the market’s response to recent developments. Noteworthy among these developments is the integration of Toncoin (TON) on Binance, as detected by monitoring bots on May 23.

While this integration signals potential advancements for Toncoin, it’s imperative to approach such indicators with caution, recognizing that interface monitoring serves as a preliminary indicator rather than a definitive measure of integration. It’s worth highlighting Toncoin’s previous affirmation of a confidentiality agreement with Binance, hinting at deeper collaborative efforts within the cryptocurrency space.

Also Read: Binance Megadrop Unveils 2nd Airdrop, What’s In Store For Users?

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