Telegram users can now send and receive tokens directly in the app’s chats, according to a tweet from The Open Network (TON) Foundation. In addition to supporting toncoins, users can also buy bitcoins through the program’s bot system.
TON Foundation Reveals Telegram Toncoin Support, Users Can Purchase Bitcoin through Bot
The ability to send and receive cryptocurrency via Telegram is now possible with TON Foundation’s toncoin. Sending digital currencies through third-party apps tied to Telegram was possible before.
However, toncoin will be available for the first time after Telegram reached a settlement agreement with the U.S. Securities and Exchange Commission (SEC) in June 2020. The SEC filed suit against Telegram in October 2019 over the toncoin project.
On Twitter, the TON Foundation stated: “You can now send toncoin directly in Telegram chats. This is a new way to send toncoin with no transaction fee to any Telegram user. With this service, you no longer need to enter long wallet addresses and wait for confirmations.”
While users can send and receive Toncoin, they can also buy BTC using the bot wallet system. Telegram abandoned the TON project in August 2020, but in April the community raised $1 billion for further goals for the project.
The TON Foundation has entered the arena of decentralized finance (defi) and non-playable tokens (NFT). Most recently, the fund announced the launch of Disintar.io, a TON-based NFT marketplace.
“On Disintar.io, users can buy, sell and place NFTs without any technical knowledge,” explained the TON Foundation . Toncoin reached an all-time high (ATH) on November 12, 2021, hitting $5.29 per unit six months ago.
Since then, the U.S. dollar value of Tonkoin has fallen 64.8% from ATH. Today, toncoin sells for $1.86 per unit, with daily trading volume of about $2,746,626.
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