• Toncoin soared greater than 38% on Monday after Pavel Durov hinted at a Telegram IPO and expressed investor confidence.
• Whales purchased 209,237 Toncoins at a median value of $4.1, spending almost $858,000.
• Telegram CEO Durov revealed his monetization plans and the potential for allocating shares to loyal customers.

On-chain analytics platform Lookonchain revealed that the whale spent 214 ETH, at the moment price about $858,000, to buy 209,237 Toncoin at a median value of $4.1. Toncoin value is at the moment sitting at $4.32 and has elevated by 16% up to now 24 hours.

The worth of Toncoin on the open community rose 38% on Monday after well-liked messaging app Telegram's CEO Pavel Durov hinted at a doable IPO. Durov informed the Monetary Instances that Telegram has develop into one of many world's hottest social media apps, producing “a whole bunch of hundreds of thousands of {dollars}” in income by means of promoting and premium subscription companies.

Telegram at the moment boasts a whopping 900 million month-to-month lively customers, up from 500 million initially of 2021. Durov additionally famous that the choice to monetize Telegram was a method to keep up its independence, and that the IPO would democratize entry to his Telegram's worth.

The CEO added:

“The primary motive we began monetizing was as a result of we needed to keep up our independence,” he stated. “Usually talking, we see worth within the (IPO) as a strategy to democratize entry to Telegram's worth.

Durov additionally advised that Telegram would take into account promoting fairness allocations to its loyal customers. Reddit not too long ago introduced related plans to allocate a portion of its shares to retail traders forward of its New York itemizing in March.