TON Price Volatility May Impact Telegram as 40% of Revenue Ties to Crypto

The financial snapshot of Telegram for 2023 reveals significant insights into the company's operations and its heavy involvement in the crypto space.

1. Telegram's heavy reliance on crypto revenue, with 40% of its income linked to crypto-related activities, could amplify the impact of a drop in Toncoin price below $5. This is due to Telegram's substantial holdings in TON, which could be affected by the asset's price performance.

2. The recent arrest of Telegram founder Pavel Durov has triggered a wave of selling pressure in the Toncoin market. This bearish momentum, coupled with the broader downturn in the crypto market, has led to a sell-the-rally sentiment among traders.

3. A sustained sell-off in Toncoin could lead to a deeper correction, potentially testing the $3.3 level, which has served as a strong support zone throughout 2024. This scenario would indicate a total decline of about 40% from the current market value.

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