Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.
The biggest and most established global hub for everything crypto, blockchain and Web3.The rise comes as Telegram founder Pavel Durov revealed intentions to get listed on the stock market via an IPO., has risen by more than 60% in two days after Pavel Durov, founder of messaging app Telegram, revealed plans for an initial public offering .
The Ton Network was initially a spinoff from Telegram, with development starting as early as 2018. Telegram stopped building the Ton Network in 2020 followingWhile the two companies are now entirely separate, TelegramFinancial Times , Durov said that he"sees value" in an IPO as a way to"democratize access" to Telegram's value. He also confirmed that Telegram has 900 million users and is nearing profitability.
The recent surge in TON has seen it jump from $2.72 to $4.38 as its market cap has grown from $9.5 billion to $15.5 billion, according to . The CoinDesk 20 Index {{CD20}} has increased by 7.8% in the same period in light of a market-wide rally led by bitcoin forming a record high of $73,707.Edited by Aoyon Ashraf.
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