Toncoin (TON) has experienced a remarkable 31.83% surge in the past 24 hours, reaching a two-year high at $3.68, propelled by the anticipation of Telegram’s impending Initial Public Offering (IPO). CoinMarketCap reports a substantial 301.96% increase in trading volumes, soaring to $269 million, reflecting heightened trader interest.

This surge follows key developments, including Telegram Messenger’s move to compensate channel owners with cryptocurrency for advertisements and Binance’s introduction of perpetual futures trading for the TON token.

In a recent interview with the Financial Times, Telegram founder Pavel Durov hinted at the platform’s imminent IPO, citing its impressive 900 million user base and nearing profitability. 

Durov shared that potential investors have valued Telegram at over $30 billion, expressing a commitment to democratizing access to Telegram’s value through an IPO.

While Durov remained tight-lipped about specific IPO details, insiders suggest a U.S. listing once profitability is achieved and market conditions become favorable. The cryptocurrency community eagerly awaits Telegram’s potential public debut, further fueling the meteoric rise of Toncoin.

Also Read: Telegram Launches Ad Platform on TON Blockchain