Fetch.ai, Render, and TON (Toncoin) Show Massive Gains as Telegram Reaches 900,000,000 Users

• Telegram has achieved a significant milestone by surpassing 900 million users.

• Over the past three days alone, TON has experienced an impressive 17% growth, benefiting from Telegram’s expanding reach.

Telegram, one of the world’s leading messaging platforms, recently reached 900 million users. This surge in user numbers has had a direct and noteworthy impact on the Telegram Open Network (TON), a blockchain platform intricately linked with Telegram’s expansive user base. In just the past three days, TON skyrocketed by an impressive 17%, responding dynamically to the expanding reach of Telegram and the fervent promotion of cryptocurrency adoption.

At the heart of TON’s appeal is its seamless integration within the Telegram platform, allowing users to conduct transactions directly through the app’s native wallet. This integrates the transaction over TON’s blockchain, which ensures that the users are charged less while transacting with each other inside the network.

In addition, there is no fee at all for making USDT transfers, and such zero-fee transactions make a lot of people want to use it because they have to do this on a regular basis in order not to overpay fees for transactions.

Security Concerns and Innovative Solutions

Nevertheless, integrating a wallet within a messaging app raises legitimate security concerns. Critics caution that while the wallet enhances convenience for day-to-day transactions, it may lack the robust security measures necessary for safeguarding significant assets. Traditional hardware wallets remain the preferred choice for users prioritizing security due to their proven security features.

Despite these apprehensions, the Telegram ecosystem presents a distinctive value proposition. Hosting a diverse array of apps and bots, Telegram enables users to interact with their wallets in innovative ways. For instance, users can participate in “farming,” utilizing TON or other tokens to engage in decentralized finance (DeFi) activities directly through Telegram. This functionality enhances user engagement and fosters a more integrated use of cryptocurrencies in everyday applications.

Fetch.ai Witnesses 5.70% Surge

Fetch.ai has surged 5.70% in the past 24 hours, climbing to $2.36. However, this uptick contradicts its overall trajectory over the past week, during which it experienced a 3.0% loss, sliding from $2.2. Despite this recent surge, the coin still lags behind its all-time high of $3.45.

Over the past week, Fetch.ai’s trading volume surged by 86%, seemingly correlating with an increase in its circulating supply by 141.9%. Currently, the circulating supply stands at 2.52 billion FET, accounting for approximately 95.84% of its maximum supply of 2.63 billion. This surge in supply might influence market dynamics and potentially impact price movements.

RNDR Token Surges 5% to Hit $10 Mark

Render (RNDR)has witnessed a significant 5% increase in the past 24 hours. At the time of reporting, RNDR is trading at $9, with an intraday high of $10.14.  Notably, RNDR has been experiencing notable positive indicators, contributing to the bullish sentiment among investors. The surge in RNDR’s daily trading volume, reaching $402 million, indicates increased market activity and investor interest. Moreover, data provided by Santiment reveals a rise in RNDR’s daily active addresses, climbing from 1,414 to 1,601 unique wallets within the past day.

TON Price Surge

Toncoin has experienced significant growth in its price and total value locked (TVL) over the past three months. The TON price surged to $6, this rise in price reflects broader positive momentum in the crypto market. Meanwhile, Toncoin’s TVL has witnessed a remarkable spike of 1068% over the same period, underscoring a burgeoning developer interest in the project.