The world-famous messenger service, Telegram, which is commonly used to build communities around Initial Coin Offerings (ICOs), seems like it’s doing quite well with its own token generation event.
Back in February, it was reported that the Telegram or TON ICO managed to raise close to 1 billion USD. A truly extraordinary feat, even for today’s time.
More money pouring into TON.
Apparently, investors are watering at the mouth to get a slice of TON, Pavel Durov’s ambitious project is looking to pull in another $850 million during the third month of its sale, according to anonymous sources.
According to sources, the token price of the TON ICO has nearly tripled since last month, yet investors are still flowing in plentiful. So, even the cryptocurrency market as a whole has cooled off from its all-time high witness in December, crypto enthusiasts still jump at the chance to invest in such a hyped-up project despite apparent market uncertainties.
A more in-depth look at TON.
But why exactly are high rollers jumping at the opportunity to board the Telegram ship? Well for starters, the messenger has an established and global audience of over 200 million users. It’s home to most ICO groups and channels nowadays, and its infrastructure is truly perfect to launch a massive scale Blockchain project.
It’s worth mentioning that in February, Grams, or the cryptocurrency that is at the foundation of the project, was going for around 38 cents. Now, at the moment it’s going for about $1.33.
An interesting thing aside from the financial aspect of the Telegram ICO is the fact that, actually, many small and medium-sized online business operates through the platform itself. So, if this ICO is successfully executed and operates well in the near future – we will have a clear case of a massive and established business breaching into the crypto space.
Thus, the masses will be presented with a clear example and proof that the crypto industry is indeed an authentic one, and is here to last.