Toncoin Fails to Exhibit a Positive Surge in Price Despite Telegram's Recent Announcement of New Features

Telegram has announced a gift feature alongside a few other new features on their app. However, Toncoin (TON) has failed to showcase a positive pump

Telegram recently announced the addition of several new features to their app, including a gift feature. However, despite the announcement, Toncoin (TON) has failed to exhibit a significant positive pump.

At press time, TON is trading at $5.22, having experienced a 2.7% decrease in price over the last 24 hours. According to CoinGecko, the coin is also down by over 10% in the last seven days.

In most cases, a major announcement is usually followed by a price pump. However, despite the slight positive crypto market conditions, TON has not been able to reverse its negative course.

Telegram users can now send gifts to friends

The latest announcement by Telegram includes a new feature that allows users to send gifts to their friends. The person who receives the gift can use it to display it on their profile pages or even turn them into stars.

Telegram CEO Pavel Durov also disclosed that some gifts are in limited supply. He also stated that they will also introduce a feature to convert these gifts to TON-based NFTs.

That’s not the only disclosure that Telegram made. They also unveiled a platform for businesses that can verify customer phone numbers.

In addition, Telegram has improved its reporting interface. The announcement highlighted that the app’s moderators take down millions of content that violate its terms of service.

Now, they have ramped up the system with more capabilities to include more details and categories of the violation.

iOS receives redesigned video chats

Telegram announced that they have completely rebuilt video chats on iOS devices to increase battery life and performance.

This also means that devices now stay dramatically cooler on long calls — even with multiple video feeds from dozens of participants.

Android users now receive support for livestreaming with RTMP. This feature was earlier available on iOS and desktop and has now expanded to Android.

Despite all the new features, TON is putting on a muted performance. TON was trading above $8 during mid-2024.

However, the price took a hit when Durov was arrested. Nevertheless, the price is now slowly recovering.

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