According to CryptoPotato, Toncoin (TON) has experienced a significant 138% surge year-to-date, reaching a new all-time high of $5.69. This growth coincides with Telegram's recent launch of a revenue-sharing initiative, allowing channel owners to earn 50% of advertising revenue through Toncoin. TON's rapid rise can be attributed to its association with Telegram, as it was initially a spinoff from the popular messenger, with development beginning as early as 2018. Although the two companies are now separate, Telegram endorsed the network last September as its choice for a blockchain in developing Web3 infrastructure.
Telegram recently introduced a new feature that allocates 50% of ad-generated revenue in Toncoin (TON) to channel owners displaying the ads. Following the CEO's initial announcement of the ad revenue-sharing initiative in late February, TON surged by 25%. After the program's recent introduction, TON's price climbed more than 5%, reaching $5.48, according to CoinGecko data. As a result, TON's market capitalization now stands at $18.6 billion, making it the twelfth-largest token by market value. Year-to-date, TON's price has increased by over 135%, positioning it as one of the top-performing tokens.
The TON Foundation recently launched its inaugural Toncoin community rewards program, The Open League, valued at over $115 million, further fueling TON's growth. The foundation reported significant growth metrics from the pilot season of the Open League, including a 70% increase in Total Value Locked (TVL) and a remarkable 370% surge in daily active wallets. Following the rewards initiative launch, TON climbed 14%, driven by eager investors and participants. Approximately $22 million in Toncoin will be allocated for airdrops and on-chain quests, while an additional $40 million in Toncoin will be dedicated to enhancing liquidity pool rewards for tokens participating in The League. The foundation also stated that $38 million worth of Toncoin will be reserved to incentivize an upcoming project launch on the TON platform.