Toncoin Struggles to Gain Momentum Following Telegram’s Feature Announcement
In a recent announcement, Telegram introduced a gift feature along with several enhancements to its messaging app. However, Toncoin (TON) has not responded positively, with its price showing a decline despite these updates.
As of the latest market update, TON is trading at $5.22, reflecting a 2.7% decrease over the past 24 hours. Over the past week, the cryptocurrency has experienced a decline of more than 10%, according to market data.
Typically, significant announcements from major platforms drive an uptick in cryptocurrency values. Yet, despite favorable conditions in the broader crypto market, TON continues on its downward trend.
New Gift Feature Introduced for Telegram Users
Telegram’s latest enhancement allows users to send gifts to friends, which recipients can showcase on their profile pages or transform into stars. The platform also revealed that certain gifts will be available in limited quantities, with plans to offer options for converting these gifts into TON-based NFTs.
Additionally, Telegram has launched a new customer verification platform for businesses, further expanding its utility alongside improved reporting features to better handle content violations on the app.
Enhanced Video Chats and Livestreaming Capabilities
Telegram has entirely redesigned video chat functionality on iOS to enhance battery efficiency and overall performance. This upgrade ensures devices remain dramatically cooler during lengthy calls, even when hosting multiple video feeds.
Android users will also benefit from the introduction of RTMP livestreaming support, following its prior availability on iOS and desktop platforms.
Despite these enhancements, Toncoin’s performance remains stagnant. After reaching over $8 in mid-2024, the cryptocurrency faced a downturn following significant events but is now gradually recovering.
