Toncoin's Value Soars After Telegram Launches Giveaway

Toncoin (TON) price hits a nearly year-high after Telegram adds a new 'Giveaways' feature and its CEO buys TON for users.

TON now ranks as the tenth-biggest crypto, with a value of over $9 billion.

Telegram's CEO purchased $200K in TON for user subscriptions, showcasing TON’s payment abilities within Telegram.

TON’s price jumped 19.5% after the Giveaway feature started, showing people are eager to buy. The highest price recently was $2.71.

Telegram supports Toncoin, increasing its use among 700 million users. TON’s new partnerships and approvals have also excited traders.

Toncoin might be overvalued, warns the price chart. An overbought signal suggests prices might drop, possibly to $2.22.

But, if TON breaks past the $2.60-$2.70 barrier, it could rise even higher, potentially reaching $2.92.