According to U.Today, Telegram's core cryptocurrency Toncoin (TON) ended its amazing seven-week rally after Pavel Durov's speech at TOKEN2049 in Dubai. The price of Toncoin (TON) suddenly dropped from $7.2 to $6.3 on major spot exchanges, which made this over-hyped altcoin end its triple-digit rally and lost 12.5% of its value in less than 30 minutes. The drop caused a loss of $1.14 million in long positions of TON/USDT on futures trading platforms.
The cryptocurrency’s price plunged despite a major announcement from Telegram founder Pavel Durov, who shared plans to reintroduce Telegram stickers and emojis, as well as NFTs, and enable tipping, all of which will be based on the TON blockchain. Additionally, Tether’s Paolo Ardoino announced the launch of USDT, the world’s largest stablecoin, on the TON rails.
