TON Surges 13% after Telegram Integrates Blockchain’s Web3 Wallet

The Open Network (TON) Blockchain’s native token TON surged 12.6% overnight, per CoinGecko data, after Telegram endorsed the blockchain platform as its choice for Web3 endeavours.

Telegram’s Chief Investment Officer, John Hyman, along with the TON Blockchain team, announced that the TON Web3 wallet has been officially integrated with Telegram at the Token2049 conference in Singapore on Tuesday.

The token’s price reached a three-month high of $1.97 after the announcement. TON was last trading at $1.92.

The wallet is already available as a standalone bot in Telegram and has 3 million registered users. It will now be available to all 800 million users through their settings.

The teams also introduced the TON Space digital wallet, making it accessible to Telegram's vast user base.

Additionally, TON-based projects will have privileged access to Telegram's advertising platform.

As part of a marketing campaign, the TON team released a QR code, granting users 1 free TON token valued at $1.92.

However, high demand for this feature led to server issues. The TON Blockchain team tweeted that due to "thousands of people onboarding to the Wallet every second," the server had experienced difficulties. The team has temporarily paused the TON giveaway via the public QR code on Twitter.