Telegram recently introduced a new feature that allows users to send gifts to their friends, but unfortunately, this has not resulted in a positive surge in the price of Toncoin (TON). Despite the anticipation that major announcements typically lead to a price pump, TON is currently trading at $5.22, reflecting a 2.7% drop in the last 24 hours and a 10% decrease over the past week, according to CoinGecko.
In addition to the gift feature, Telegram has made several other updates to its platform. CEO Pavel Durov revealed that some gifts will be in limited supply and that there are plans to enable the conversion of these gifts into TON-based NFTs. Furthermore, a new platform for businesses to verify customer phone numbers has been introduced, along with enhancements to the reporting interface to address violations of the app’s terms of service.
For iOS users, Telegram has revamped video chats to improve battery life and performance, resulting in cooler devices during long calls with multiple participants. Android users can now enjoy livestreaming with RTMP support, previously available only on iOS and desktop versions of the app.
Despite these advancements, TON has not experienced the expected price increase. The cryptocurrency was trading above $8 earlier in 2024 but faced a decline following Durov’s arrest. However, there are indications of a slow recovery in the price of TON.