Telegram Integrates Web3 Wallet, TON Crypto Soars 14% in 30 Minutes

TON crypto assets. (Photo; Doc. Trading Education)

JAKARTA - The famous messaging application, Telegram, which has more than 800 million users, took a big decision by integrating the Web3 wallet created by TON (Telegram Open Network) into its platform.

This decision marks a major development in the crypto world and paves the way for digital assets to become more accessible to Telegram's large user base.

As a result of this announcement, Toncoin (TON), the native token of the TON network, saw its price spike by 14% in just 30 minutes. This reflects the market's excitement over this integration.

In addition to Web3 wallet integration, Telegram also introduced a self-custodial version called “TON Space”. TON Space is claimed to be able to make it easy for users to control their digital assets and increase security in their crypto wallets. This is in line with the basic principle of blockchain which places complete control over crypto ownership in the hands of individuals.

The launch of Telegram for TON Space aims to reach users outside the United States. This step is an important milestone for Telegram as a messaging application integrated with blockchain technology. Apart from that, the TON Foundation also provides special access to Telegram Ads in the Web3 application.

John Hyman, Telegram's Chief Investment Officer, emphasized the importance of these integrations, stating that they "place digital ownership rights in the hands of our entire user base." This reflects a shift in power from centralized entities to individuals, in line with the principle of decentralization.

At the time of writing, TON was trading at IDR 28,746 per coin. In the last two weeks, TON's price performance has decreased by 3.4 percent, based on Coingecko data.