The Toncoin (TON)-based economy is starting to take root on the messaging app Telegram, according to Justin Hyun, investment director of the TON Foundation. This explains why the token is performing better than the overall crypto market.

According to CoinDesk data, TON gained 15 percent in value this month, reaching record levels above $7, while Bitcoin (BTC), the leading cryptocurrency by market value, fell 11 percent. According to CoinGlass data, open interest, that is, the dollar value locked in the number of perpetual futures tied to TON, increased by over 17% to $160 million during the same period. At one point it even surpassed $200 million. The increase in open positions, as well as the price increase, confirms the upward trend, indicating that new money flows are being recorded.

In February, Telegram, which has 800 million users, launched an ad revenue sharing system for channel owners, where payments can only be made in TON. Now Telegram channels reach more than 1 trillion views per month, and channel owners with at least 1,000 subscribers receive 50% of the revenue from displaying ads on their channels.

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