Popular messaging app Telegram has revealed a cryptocurrency wallet nearly three years after announcing plans to build a Web3 ecosystem. The wallet was unveiled at the ongoing Token2049 event in Singapore.
Developed on The Open Network Blockchain (TON), the cryptocurrency wallet is now available to Telegram’s 800 million users worldwide.
In response to this news, TON’s price experienced a significant surge, outpacing even Bitcoin’s price movement, which remained relatively unchanged in the past 24 hours. According to CoinGape, TON’s price movement indicates the formation of an inverse head and shoulders pattern, which is a bullish signal. It suggests that breaking the immediate resistance level at $2 means the 50-day Exponential Moving Average (EMA) has crossed above the 100-day EMA, a crossover often associated with asset price uptrends.
The TON Foundation announced that projects built on the TON Blockchain will receive priority access to Telegram’s advertising platform, Telegram Ads.
The wallet feature is currently available in settings and is set to roll out globally in November 2023, excluding the United States and some other countries. Further details will be provided to the public in the coming months.