Latest news with #TheOpenNetwork
Yahoo
a day ago
- Business
- Yahoo
TON Surges 3.7% in V-Shaped Recovery After Finding Strong Support at $3.11
Geopolitical tensions and ongoing trade disputes between major economies create market volatility, with traditional financial markets showing correlation to crypto movements. The cryptocurrency market continues to navigate choppy waters amid escalating global economic uncertainties. TON, the native token of The Open Network, has shown remarkable resilience despite broader market pressures, recovering from a recent correction to establish support above the $3.10 level. This recovery comes as a symmetrical triangle pattern suggests potential for a 40% price movement in either direction, with current indicators leaning toward bullish momentum. Technical Analysis • TON-USD demonstrated remarkable volatility over the 24-hour period, establishing a trading range of 0.117 (3.7%). • Price action formed a clear V-shaped recovery pattern after reaching a peak of $3.21 before correcting to $3.10. • Strong volume support emerged at the $3.11 level where buying pressure appeared across multiple hourly candles. • Recovery phase showed increasing momentum with higher lows forming a clear uptrend channel. • Price reclaimed the $3.15 level with decreasing volume suggesting consolidation. • In the last hour, TON-USD surged from $3.12 to $3.15, representing a 1.8% gain. • A decisive breakout occurred when price penetrated the $3.14 resistance level with strong volume confirmation. • Technical structure, combined with decreasing selling pressure in the final minutes, suggests potential continuation of the uptrend if the newly established support at $3.15 in to access your portfolio
Yahoo
5 days ago
- Business
- Yahoo
Toncoin falls 7% as Elon Musk refutes Telegram founder's claims of a $300 million xAI partnership
Toncoin, the cryptocurrency tied to the Dubai-based messaging app Telegram, tumbled 7% on Thursday after tech billionaire Elon Musk denied news of a $300 million partnership between Telegram and xAI, a Musk-led AI company. Toncoin jumped 21%, from $3.01 to $3.65, on Wednesday after an announcement by Telegram CEO Pavel Durov that he and Musk had reached an agreement to integrate xAI's chatbot Grok into the messaging platform. 'This summer, Telegram users will gain access to the best AI technology on the market,' Durov wrote on X. '@elonmusk and I have agreed to a 1-year partnership to bring xAI's @grok to our billion+ users and integrate it across all Telegram apps.' According to Durov, Telegram would receive $300 million in cash and equity from xAI, and the messaging platform would keep 50% of the revenue from xAI subscriptions sold on Telegram. However, details of the partnership soon came into question as Musk contradicted Durov's claims, writing on X that, 'No deal has been signed.' Durov quickly responded to Musk saying that while it was true that the deal had not yet been signed, it was agreed upon 'in principle.' 'Formalities are pending,' Durov wrote. Telegram fans were not impressed by the exchange, with one X user writing: 'Agreed in principles doesn't mean anything.' Another user wrote, 'Well you just blew the deal.' After peaking at $3.65, Toncoin fell to a low of $3.26 on Thursday, losing 11% before recovering slightly. Toncoin is the native token on the The Open Network, or TON. TON is a blockchain that operates as a separate entity from Telegram, but is still associated with the app, allowing the messaging platform's 1 billion users to pay for games, advertisements and other decentralized applications. News of the proposed deal comes as Durov announced via Telegram on Thursday that the company has raised $1.7 billion from convertible bonds. A portion of the funds will go toward paying off $955 million of the company's existing debt, due in 2026, according to Bloomberg. Earlier this year, Toncoin surged 24% after Durov was permitted to return home to Dubai after being barred from leaving France amid an ongoing investigation. Durov was arrested by French authorities in August on suspicion that Telegram was abetting the distribution of child sexual abuse material, drug trafficking and other criminal activities by users. Durov has denied those allegations and maintained his innocence, writing in March, 'When it comes to moderation, cooperation, and fighting crime, for years Telegram not only met but exceeded its legal obligations.' Telegram itself has also rebutted the claims that it is responsible for illicit activity, writing on X in the wake of Durov's arrest: 'It is absurd to claim that a platform or its owner are responsible for abuse of that platform.' This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
21-05-2025
- Business
- Cision Canada
MEXC Partners with TON for Groundbreaking $1 Million Crypto Event
VICTORIA, Seychelles, May 21, 2025 /CNW/ -- MEXC, a leading global cryptocurrency exchange, today announced an industry-disrupting partnership with The Open Network (TON) that introduces a $1 million reward pool campaign and fundamentally challenges established exchange revenue models. Launching today and running through June 20, the "TON Triumph" campaign eliminates all trading fees on TON pairs while offering staking returns that dwarf typical yields by up to 100 times. In an unprecedented move that signals a significant shift in exchange competition strategies, MEXC will offer new users access to staking opportunities with up to 400% APR on TON tokens—creating what analysts describe as the most aggressive user acquisition campaign in the cryptocurrency exchange sector this year. "This partnership represents a strategic inflection point for both the TON ecosystem and the broader exchange landscape," said Tracy Jin, COO of MEXC. "By eliminating all typical entry costs into TON trading for a full month while simultaneously offering returns that outpace all competitors, we're not simply running a promotion—we're fundamentally changing how users engage with emerging Layer-1 ecosystems." Campaign Transforms Market Access and Investment Returns The 30-day campaign introduces multiple disruptive elements that directly challenge other exchanges' TON market dominance: Zero-Fee Trading Structure: Complete elimination of fees on TON/USDT, TON/USDC, and TON/EUR spot pairs, TONUSDT futures, and all TON/USDE network withdrawals—removing traditional revenue mechanisms that have defined exchange business models. Industry-Leading APR: New users can stake TON tokens to earn up to 400% APR, positioning the offering at 100 times higher than typical cryptocurrency staking returns and several hundred times above traditional banking products. Democratized Trading Access: Zero-fee structure gives retail traders access to the same economics previously available only to professional and institutional traders, significantly leveling the playing field. Limited-Time, First-Come Allocation: High-yield staking pools operate on a first-come, first-served basis with participants limited to 250 TON tokens per user, creating immediate urgency for early participation. The campaign also includes passive rewards of up to 8% daily APR for USDE holders, spot trading rewards from a pool of 32,500 TON, and a futures trading competition with 100,000 USDT in bonuses. TON Ecosystem Expansion and Infrastructure Advancement This partnership is pivotal for The Open Network, which continues to gain momentum through its connection to Telegram's 900+ million users and growing developer ecosystem. The collaboration represents a significant leap forward in TON's accessibility and adoption curve. By drastically reducing barriers to entry while providing exceptional incentives, the campaign accelerates the integration of new participants into the TON ecosystem, coinciding precisely with the network's rapidly expanding technical capabilities and use cases. The campaign also showcases MEXC's platform capabilities, demonstrating advanced infrastructure that can handle zero-fee trading across multiple markets simultaneously while managing high-volume staking operations with variable APR structures. Time-Sensitive Opportunity with Global Access The $1 million in rewards is available exclusively during the 30-day window, with certain high-value components like the 400% APR staking pool starting on May 21st and operating on a capped allocation basis. MEXC has created a streamlined onboarding process that allows new users to complete registration and KYC verification in minutes, with the campaign accessible to eligible participants globally through both web and mobile interfaces. About MEXC Founded in 2018, MEXC is committed to being "Your Easiest Way to Crypto." Serving over 40 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding. About TON The Open Network (TON) is a fully decentralized layer-1 blockchain designed for mass adoption. Originally conceived by Telegram and now developed by the open TON Community, the network offers exceptional scalability, accessibility, and ease of use. Risk Disclaimer: The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions.
Associated Press
20-05-2025
- Business
- Associated Press
LITRBULL's GameFi Token $LITR Launches on MEXC, Powering a Strategy Game Ecosystem on TON Blockchain
05/20/2025, London, UK // KISS PR Brand Story PressWire // LITRBULL, a rising GameFi project that blends humor, strategic gameplay, and blockchain innovation, announces the official listing of its native token, $LITR, on global cryptocurrency exchange MEXC. Built on The Open Network (TON), LITRBULL redefines what it means to be a 'utility coin' by combining viral culture with tangible in-game utility. Players earn and use $LITR in a Telegram-based strategy game inspired by classics like Heroes III, where every click, farm upgrade, and battle plays into a dynamic, token-driven economy. The game currently boasts over 300,000 users, with 170,000 monthly active users and 5,000–7,000 daily players. 'LITRBULL isn't just a meme with bulls — it's a meme with a mission,' said a representative from LITRBULL. 'We're building a full-fledged financial ecosystem that makes blockchain fun, rewarding, and accessible to everyone.' In discussions with developers at LITRBULL, emphasized that the project is more than just entertainment: 'LITRBULL isn't just a meme with bulls — it's a meme with a mission. We're building a full-fledged financial ecosystem that makes blockchain fun, rewarding, and accessible to everyone.' LITR serves as the backbone of the LITRBULL game economy with a wide range of uses: The MEXC listing opens up $LITR trading to a global audience, driving liquidity and accessibility for the project's fast-growing player base. About LITRBULL LITRBULL is a Telegram-native GameFi project built on the TON blockchain, combining the virality of memecoins with a strategy-based RPG clicker game. Launched in 2024, LITRBULL has quickly attracted over 300,000 users with its unique blend of humor, community-driven gameplay, and decentralized token utility. The project is part of the emerging wave of games redefining user engagement in the Telegram and TON ecosystem. Follow LITRBULL on Twitter and Telegram for updates, events, and community news. Media Contact: Robert Penington [email protected]
Arabian Post
30-04-2025
- Business
- Arabian Post
Telegram Bond Fund to Tokenise $500m Bonds on TON Network
Telegram has partnered with Libre to tokenize $500 million worth of bonds, marking a significant step in the integration of traditional financial instruments with blockchain technology. This collaboration is set to bring Telegram's bond offerings onto The Open Network , a blockchain designed to enable scalable and fast transactions. The move represents a noteworthy expansion of Telegram's efforts to bridge the gap between conventional finance and decentralised finance . The Telegram Bond Fund will serve as a platform through which these tokenized assets can be utilised within DeFi protocols. This integration allows the bonds, typically constrained to traditional markets, to become part of the rapidly growing blockchain-based financial ecosystem. By leveraging the TON network, Telegram and Libre aim to make bond trading more accessible, transparent, and efficient, tapping into the growing demand for tokenised assets in the DeFi space. The use of blockchain technology for tokenizing bonds allows for fractional ownership, providing an opportunity for retail investors to participate in markets traditionally dominated by institutional investors. Blockchain's inherent security and transparency features are expected to provide an additional layer of trust and legitimacy to bond markets. Investors will be able to trade these tokenized bonds with greater speed and efficiency compared to conventional methods, which often involve lengthy settlement times and high fees. The Telegram Bond Fund's tokenisation process will employ the TON blockchain to ensure a seamless transfer of digital assets. This process allows for bonds to be divided into smaller units, or tokens, which can be traded and transferred across the TON network. Each token will represent a share in the underlying bond, enabling investors to buy, sell, or hold them as they would any other digital asset. This could have profound implications for both the bond market and the broader DeFi space, which has long sought to integrate more traditional financial products into its decentralised framework. See also BlackRock's Tokenised Treasury Fund Surges to $2.3bn For Telegram, the move is a strategic effort to expand its financial ecosystem beyond its messaging platform. Telegram has already introduced several innovative features, including its TON-based cryptocurrency wallet and TON coin. By introducing tokenised bonds, Telegram is broadening its financial services, positioning itself as a key player in the intersection of social media, messaging, and decentralised finance. The platform's large user base offers a unique advantage, providing instant access to millions of potential investors who may be drawn to the ease of using Telegram for both social communication and financial transactions. Libre's role in the partnership is crucial, as it will facilitate the actual process of tokenisation and integration with DeFi protocols. The company has built its reputation by bridging traditional finance with blockchain technology, creating platforms that allow traditional assets to be digitised and traded on decentralised networks. Libre's expertise in this area will enable the successful launch and operation of the Telegram Bond Fund, ensuring that the tokenised bonds adhere to the necessary legal and regulatory standards. The integration of tokenised bonds into DeFi protocols opens up new possibilities for yield generation and liquidity provision. Investors will not only be able to buy and hold these digital bonds, but also engage in activities such as staking or lending within the TON network's decentralised finance protocols. This could provide an additional avenue for users to earn returns on their investments, further increasing the appeal of tokenised bonds in the DeFi space. As blockchain technology continues to mature, tokenisation of traditional assets like bonds is becoming increasingly common. This trend reflects a broader movement towards digitising traditional financial systems to make them more accessible, efficient, and user-friendly. For years, the potential for blockchain to revolutionise financial markets has been discussed, but the adoption of tokenisation is now gaining significant traction, with many believing that the future of finance lies in decentralised networks and digital assets. Telegram's entry into the bond tokenisation space is another step towards fulfilling this vision, making it possible for individuals to participate in financial markets in ways that were previously unavailable. It also signals the increasing importance of platforms like TON, which offer an infrastructure capable of supporting large-scale tokenisation projects. With the backing of a messaging platform as influential as Telegram, the success of this venture could pave the way for more established financial institutions to consider similar integrations with blockchain networks. The regulatory landscape surrounding tokenisation remains a complex issue. While blockchain technology offers many advantages, including transparency and decentralisation, it also presents challenges in terms of legal compliance, especially when it comes to securities laws. However, Telegram's entry into this market, along with the legal oversight provided by Libre, suggests that the project is designed to meet regulatory requirements, which may help alleviate concerns about the legality and legitimacy of tokenised bonds. Arabian Post – Crypto News Network
