Highlights
- Telegram introduces a new gift feature for users.
- TON fails to react positively to Telegram’s feature announcements.
- Improvements in Telegram’s video chats and verification system.
- TON’s market price continues to decline despite a positive crypto market outlook.
Telegram launched several new features, including gifts, video chat improvements, and verification tools, but Toncoin (TON) remains unresponsive in the market.
Despite the updates, TON’s value has not experienced the anticipated surge. Many have wondered what could be the reason behind the muted performance of TON despite the recent developments on Telegram.
Telegram Rolls Out New Features
Telegram, the popular messaging platform, recently announced several updates aimed at enhancing user experience.
Among these updates is a gift feature that allows users to send digital gifts to friends, which can be displayed on their profile pages or transformed into stars. Telegram’s CEO, Pavel Durov, also revealed plans to turn these gifts into TON-based NFTs, adding a blockchain component to the app's offerings.
Other updates include a new verification platform designed for businesses, allowing them to verify customer phone numbers more efficiently. The update aims to streamline verification processes, enhancing security and trust between businesses and their clients.
In addition, Telegram has revamped its reporting interface, enabling moderators to manage content violations more effectively.
However, despite these promising developments, TON has shown no significant upward momentum. As of today, Toncoin is trading at $5.22, reflecting a 2.7% decrease over the past 24 hours and a more substantial 10% drop over the last seven days, according to CoinGecko.
The coin’s price is struggling to recover, even with a generally positive outlook in the broader crypto market.
Toncoin’s Price Remains Stagnant
Typically, when a platform like Telegram makes major announcements or launches new features, the associated cryptocurrencies, such as Toncoin, experience a boost in price.
However, this has not been the case for TON, despite the positive crypto market environment. The price remains on a downward trajectory, contrary to what some analysts and investors expected.
Earlier this year, TON was trading at over $8. However, its price dropped significantly when Telegram’s CEO Pavel Durov faced legal issues. While the coin has shown some recovery, it has yet to reach its previous highs.
"It’s surprising to see such a minimal reaction from TON," said a market analyst from FxPro. "Given the new features Telegram has launched, one would have expected some price appreciation or at least stabilization."
The lackluster performance has raised questions about the coin’s resilience and the effectiveness of Telegram’s strategies to integrate TON into its platform’s ecosystem.
iOS and Android Updates: Boost for Users, Not for TON
Telegram has also made strides in improving its app's functionality, particularly for iOS and Android users. A significant update has been rolled out for iOS devices, focusing on enhancing video chat performance.
The company claims that these improvements will increase battery life and keep devices cooler during long video calls, even when multiple video feeds are active.
Meanwhile, Android users now have access to livestreaming support via RTMP, a feature that was previously available only on iOS and desktop versions. The expansion to Android aims to give users more flexibility and features for video-based interactions.
Despite these user-friendly updates, TON has not seen the expected surge. Market analysts suggest that while the new features are appealing, they may not directly influence TON’s market value without a clear integration strategy linking these features to the cryptocurrency.
“For TON to gain traction, there needs to be a seamless tie-in between these updates and the token’s functionality within Telegram,” noted a representative from CoinGecko.
Final Notes
Despite Telegram’s exciting new features and the potential they hold for expanding its user base, Toncoin’s price remains stagnant.
The coin's lack of response underscores the need for a more direct and impactful integration of TON into Telegram’s ecosystem to drive market interest and value.
Until then, investors are likely to remain cautious about the token’s performance, even in a favorable market environment.