Telegram has made headlines by achieving a remarkable milestone with a revenue exceeding $1 billion in 2024. This achievement marks a key moment for the platform, reflecting its strategic pivot to blockchain technology through the TON network, which has been instrumental in attracting nearly 1 billion users.
The platform’s path to profitability has been smartly crafted through various monetization strategies, including giveaways, mini-apps, and the establishment of Telegram business and affiliate programs. With a cash reserve surpassing $500 million, not counting its crypto assets, Telegram is well-equipped to continue its growth trajectory.
The Shift in Digital Freedoms
Conversations around freedom of speech have become increasingly significant, especially in countries like the United Kingdom, European nations, and the United States. Major social media players, such as Elon Musk, Meta, TikTok, and Telegram, are navigating this challenging landscape. Telegram has carved a niche for itself as a haven for privacy, primarily due to its robust protection measures that shield users from various threats.
However, this year, the perception of Telegram shifted dramatically when its founder, Pavel Durov, faced arrest in Paris. This incident, compounded by the platform’s revised privacy policy regarding user data, has attracted scrutiny. Recent reports reveal that Telegram responded to just 14 requests from authorities in the first nine months of 2024, affecting 108 users. However, that number surged to 900 requests in just the last quarter, impacting over 2,250 users.
The Ripple Effect on the Toncoin Ecosystem
The evolving dynamics between Telegram and global authorities will significantly influence the Toncoin ecosystem. As a prominent layer one (L1) blockchain, Toncoin’s fully diluted valuation stands at approximately $269 million, complemented by a stablecoins market cap near $1.41 billion. Its growth trajectory has been driven by innovative mini-apps like Hamster Combat (HMSTR), Notcoin (NOT), and Dogs (DOGS).
Yet, the increased legal scrutiny surrounding Telegram could dampen cash inflows into the Toncoin ecosystem in the short term. Reports suggest that various criminal organizations, including Chinese syndicates in Southeast Asia, exploit the platform, generating annual revenues between $27.4 billion and $36.5 billion through illicit activities.
Looking Ahead
Investors are eager to know what lies ahead for Toncoin. Will it rise with the upcoming bullish cycle for layer-1 projects? Predictions suggest that this 10th ranked altcoin is poised to outperform major cryptocurrencies in the near future. Some forecasts even project that Toncoin’s price could soar to a high of $16.65 by the end of 2025.
As we witness this transformation, both Telegram and Toncoin stand at a pivotal moment. Their ability to adapt to the changing landscape will determine their future trajectories in an increasingly competitive digital economy. Keep an eye on these developments as they unfold, because the story is far from over!
