The post Telegram Reaches $1 Billion Revenue in 2024: What It Means for Toncoin appeared first on Coinpedia Fintech News
The Telegram social network platform has grown exponentially in the past few years to achieve the first profitability in 2024 with a total revenue of over $1 billion. The gradual shift to blockchain technology through the TON network has played a crucial role in onboarding more users, close to 1 billion.Â
Furthermore, Telegram has been monetizing its platform through giveaways, mini-apps, Telegram business, and an affiliate platform. With a cash reserve of more than $500 million excluding crypto assets, Telegram is well-positioned to grow exponentially in the coming years.
Telegram’s Morphs With Global Shifts
Freedom of speech has been a hot topic in most top jurisdictions – led by the United Kingdom, European countries, and the United States – in the recent past. Behemoth social media platforms – led by elon musk 
elon musk
Elon Musk Is the Co-founder of Tesla, an investor and entrepreneur. He was born on the 28th of June,1971, and is based in Pretoria, South Africa. He graduated from the University of Pennsylvania, earning a bachelor's degree in Arts and physics, and the Wharton School, earning a bachelor's degree in science, and economics. In 2003 Musk founded Tesla, an electric vehicle and clean energy company. Elon Musk is a crypto enthusiast, he has a complex relationship with cryptocurrency. He purchased $1.5 billion in the cryptocurrency. Musk was honored with Axel Springer Award, an award given to innovative people, who build new markets, change markets, and contribute to society. He was also listed on Forbes Billionaire with a total net worth of $2 Billion.
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EntrepreneurInvestorChief Executive Officer
backed X, Meta’s family of apps, TikTok, and Telegram – have found themselves at crossfires with different jurisdictions in the past.Â
As for Telegram, it has been viewed as a more secure platform over the years due to its privacy protection against the Russian oligarchs. However, Telegram’s status took a major turn in mid-2024 after pavel durov
pavel durov
Pavel Durov is known within the global crypto community as a serial entrepreneur. who in the past has been associated with several successful startups including VKontakte. He was born in Leningrad, however, burned through the majority of his young life in Turin, Italy, where his dad was employed. In 2006, he moved on from the Philology Department of Saint Petersburg State University, where he got a five-star degree. Pavel Durov's initial life and profession are depicted exhaustively in the Russian-language book The Durov Code. The True Story of VK and its Creator. After leaving Russia, he got Saint Kitts and Nevis citizenship by giving $250,000 to the nation's Sugar Industry Diversification Foundation and got $300 million in real money inside Swiss banks.
EntrepreneurDeveloper/ProgrammerChief Executive Officer
the platform’s founder, was arrested in Paris. Moreover, Telegram changed its privacy policy on user data in regard to Authorities’ requests.
According to 404 Media, Telegram responded to just 14 requests in the first nine months of 2024, affecting 108 users. However, from October to December, that number skyrocketed to 900 requests, impacting over 2,250 users
Impact on Toncoin Ecosystem
Telegram’s shift with the global order will have a profound impact on the Toncoin ecosystem. The top-tier layer one (L1) blockchain, with a fully diluted valuation of around $$269 million and a stablecoins market cap of around $1.41 billion, has grown in the recent past largely due to Telgaram’s mini apps led by Hamster Combat (HMSTR), Notcoin (NOT), Dogs (DOGS), among others.
The legal scrutiny of Telegram could lower the cash inflow to the Toncoin ecosystem in the near term. Moreover, criminal groups, including Chinese syndicates in Southeast Asia, are said to generate between $27.4 billion and $36.5 billion annually through illicit activities on the platform.
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FAQs
Yes, with the upcoming bull run for the Layer-1 projects, this #10th position altcoin is expected to outperform major cryptocurrencies during the coming time.
The Toncoin (TON) price may reach a high of $16.65 by the end of the year 2025.
