One of the largest cryptocurrency exchanges on the planet, Binance, is set to list the Telegram Open Network (TON) token. The change announced the launch of TON perpetual contract with 50% leverage. Subsequently, the value of the token surged by 10% following the announcement.
TON is the layer-1 blockchain that is developed by the Telegram messaging application. Indeed, the privacy-focused app has instituted some new programs that have increased the overall value of the company’s ecosystem. Specifically, the app recently launched a renewed 50% ad-revenue sharing plan that is set to begin today.
Also Read: TON Up 15%: Telegram Integrates Crypto Wallet for 800 Million Users
Telegram’s TON Sees Binance Perpetual Contract Listing
One of the most popular messaging applications has seen its popularity grow in recent days. Indeed, Telegram has announced it is set to share 50% of its massive ad revenue stream with channel owners. However, the announcement that that payout would be made in Toncoin (TON) increased its overall value.
That surge has only increased with some more positive news today. Specifically, Binance is set to officially list Telegram (TON) tokens in a move that caused a 10% jump in value. The exchange is set to launch a TON perpetual contract with up to 50x leverage.
Also Read: Bitcoin, Tether Payments Goes Live on Telegram Through Wallet Pay
The continued increase in value for the token has perpetuated the cyclical economic relationship between Telegram users and TON. With the introduction of the ad-revenue sharing plan, users will be paid in Toncoin. Subsequently, they can then spend those TON tokens on features within the Telegram ecosystem.
These developments have created what could be a self-sustaining economic system for Telegram users thus far. Additionally, the continued integration of the coin presents optimism that the value will only continue to grow. Especially if the messaging application continues to grow alongside it.