Main navigation

Toncoin (TON) up 54% in December on This Telegram Innovation

Wed, 12/14/2022 - 11:14
article image
Gamza Khanzadaev
TON soars 50% in two weeks on Telegram's anonymous innovation
Toncoin (TON) up 54% in December on This Telegram Innovation
Cover image via

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.

Read U.TODAY on
Google News

The price of Toncoin (TON) has risen 54% since the beginning of December, starting the month at $1.75 and reaching $2.7 by now. The reason for such a strong surge in TON quotations seems to be an innovative solution with anonymous phone numbers for Telegram, which was presented by Pavel Durov himself, the founder and head of the popular messenger.

TON to USD by CoinMarketCap

As a reminder, The Open Network (TON) is the brainchild of the Telegram development team, which the messenger had to abandon due to pressure from the U.S. Securities and Exchange Commission (SEC) years earlier. Since then, the TON ecosystem has reportedly led a life of its own and regularly integrates various innovations into the messenger.

Breaking: Telegram Announces Discontinuation of Its Blockchain Project

Anonymous numbers' hypenomics

So, earlier in December, following Durov's post about creating full-fledged decentralized solutions, the Fragment platform launched bidding for anonymous phone numbers for Telegram. The numbers sold for TON have a phone code of +888 and are an NFT based on the blockchain of the same name. Their key purpose is that they can be used to register a relatively anonymous Telegram account.

Moreover, the creators of the project have deployed a mechanism whereby the prices of all numbers that will not have a bid or will not be bought will be increased every three hours by 1 TON until it finally reaches a certain limit and disappears from the auction.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.