Investors are enthused about Toncoin's prospects after Telegram and the TON Foundation jointly announced a new self-custodial wallet, called TON Space, at theOn Thursday, Pavel Durov, the creator of Telegram, endorsed TON as its blockchain network of choice for expanding web3 infrastructure on the platform.
"Starting this November, TON Wallet will be included in the settings and attachment menus for all our users outside the U.S. and some other countries," he announced on his official Telegram. Telegram also unveiled growth forecasts at Token 2049, predicting that its active user count will increase from 800 million to 1.5 billion within the next 3 to 5 years.. It's gained 45% over the past week.
The projections for the rest of the year from Fed Chair Jerome Powell during Wednesday's press conference will serve as guidance for markets. Investors will be vigilant for signals of another rate increase in 2023. "A hawkish tone will surely be perceived as negative for crypto assets whereas a neutral tone could set the base of the expectation of the end of the hiking cycle. The latter, if confirmed, will have an unambiguous positive impact in crypto asset prices, in our view," Yellati added.
The world's largest digital asset by market capitalization has jumped back from languishing in a three-month low, with bitcoin's price climbing 2.6% over the past day to $27,217 at 1:00 p.m. ET, according to© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.