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5 Things You Need to Know About Toncoin (TON) This Week

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Mon, 1/07/2024 - 5:24
5 Things You Need to Know About Toncoin (TON) This Week
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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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Advertisement integration to pay off

The TON Community has officially introduced Adsgram, a new third-party platform on Telegram that allows developers to connect their mini-apps or bots to an advertising system, earning Toncoin (TON) by displaying ads. 

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Telegram

This platform differs from the Telegram Ads platform, which was launched in March for channel owners. Adsgram supports basic ad payment models, such as cost per thousand impressions (CPM), and tracks metrics like click-through rate, conversions and fill rate.

New mini-app

Telegram CEO Pavel Durov recently announced the introduction of an in-app currency called Stars, which will facilitate the purchase of digital goods and services within Telegram mini-apps.

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Users can buy Stars with fiat currency through in-app purchases on iOS and Android, or within Telegram itself. Stars can be used to buy digital products in mini-apps such as Notcoin and Hamster Kombat.

New regulatory accomplishment

Kazakhstan’s Financial Services and Regulatory Committee (AFSA) has approved Toncoin (TON) for trading on regulated exchanges, following an audit that confirmed the digital asset met the financial regulator’s listing criteria. 

This approval means Toncoin is now officially eligible for trading within the regulatory framework provided by the Astana International Financial Centre (AIFC). Investors can engage in transactions involving Toncoin with the assurance of regulatory protections and oversight.

On-chain data signals buy

According to recent on-chain TON data, the number of active users on the network has exceeded 32 million users. This adds to the increasing number of whales as well as the number of transactions.

In addition, the moving averages show a buy signal, according to TradingView. The RSI indicator has risen to 56, which still gives much space for price growth.

Price prediction

The TON price is currently sitting at $7.76, despite last week’s market turmoil. Having surpassed the support level of 7.36, TON has undergone a mild correction last week. Now Toncoin is eyeing $8, with a good chance to reach the price target this week.

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Source: CoinMarketCap

An ascending trendline on the daily chart drives the midterm bullish trend. With major fundamentals supporting growth, TON price expectations remain bullish this week.

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