Will Telegram’s Crypto Holdings Keep Rising After Reaching $1.3B in H1 2024?

Applying strategies successfully, Telegram’s crypto investments grew to $1.3B in H1 2024, 225% up, driven by sales of Toncoin, through which, the revenue increased by 190%. The organisation also saw the crypto assets it invests in rising from $400M to $1.3B in the first half of 2024, an expansion of 225%. Two sources helped to drive the growth including sales of Toncoin and an exclusive ad. Total revenue of the telegram increased by 190% yoy to $525M. 

Telegram boost its total crypto assets to $1.3 billion in the first half of 2024, and $400 million at the year-end of 2023. Thus, Toncoin sales and some other financial operations recognized the company as one of the leaders of the digital assets market. The recent quarterly report has reignited the debate about whether Telegram’s crypto assets could be expanding at such a rate.

Telegram’s $1.3B Crypto Holdings Mark 3X Growth in Just Six Months

Telegram has stepped up its crypto exposure even further in a recent publication and has tripled this throughout the first half of 2024. The company holdings increased from the level of $ 400 million by the end of the fiscal year of 2023 to $1.3 billion in the middle of the fiscal year 2024. The increase in the sales revenue was seen by the $353 million sale of Toncoin, a crypto that is related to TON. 

Besides, through a $225 million exclusivity deal, the social media platform limited payment for small businesses to purchase ads on its platform to Toncoin only. Even as this deal stopped on October 1, it contributed significantly to lifting the company’s revenue.

Since the partnership, TON has risen by an absolute value of over 150% to reach and fluctuate around, $5.00 per token in the last year, reaching a high of nearly $7.00. At the same time, recent fundamental analysis points to new key levels calling for the TON price to rise above $10 due to the current bullish sentiment and higher trading volume.

Revenue Soars by 190%, Supported by Crypto Sales

According to the report, Telegram attained $525 million in sales in the first half of 2024, up by 190% in the same period of 2023. Major sources of this growth were transactional income from cryptocurrencies, advertising and premium services.

Copp Clark Professional/Library Resources increased advertising revenues nearly twofold to $120 million from $63 million while subscription-based revenue sources comprised $119 million from $32 million. Credited reforms also claim that Telegram achieved such financial advancement by continuously diversifying its sources of income alongside the growing market of digital assets. In the example of the social media app, financial performance showed substantial profitability, but its creator Pavel Durov has been encountering legal issues in France recently. 

On August 8, 2024, officials of the Russian Federation apprehended Durov based on a charge of inactivity to remove unlawful activities conducted through the Telegram application. This included; child abuse and terrorism. Nonetheless, Durov was released on bail but cannot travel out of France due to an ongoing investigation.

Nevertheless, the social media app, which is affected by these legalities has reassured its stakeholders that it is still running as usual. In response to regulators, the company has hired more moderators and tweaked policies to align with global best practices.

This increase in crypto holdings means the token is ready to expand further in the digital asset markets. As the company progresses entailing new strategies, it will obtain proper enhancement in the crypto it possesses for further development.

Telegram’s Crypto Journey Signals Sustained Growth

Telegram has more than doubled its crypto holdings between the first and second halves of 2024, rising 225%, and doubled its revenues, which were up 190% between the same periods, all thanks to its deliberate diversification drive. Bearing this in mind the major feature of The Telegram Open Network is the usage of Toncoin for sales and the exclusive advertising partnership depicts the progressive usage of the blockchain by Telegram. 

Though it experienced legal problems that affected its founder and consisting of its employees, the company has proven to be strong by continuously changing its policy and continuing its business. Thanks to its high revenue rates and growing crypto assets, Telegram has the necessary base to deepen its dominance in the digital currency market and use new opportunities.