WhatsApp suffered an outage, Telegram’s cryptocurrency TON gained value.
While billions of the app’s users were outraged by the app’s collapse, TON’s investors were overjoyed.
WhatsApp Crashed, Investors Win
The crash of the messaging app allowed TON, the cryptocurrency of rival Telegram, to gain 10%. Although the asset has been down since then, it still continues to trade 4% above its opening price.
With the interruption of WhatsApp, there was an increase in Telegram searches on Google.
Telegram and TON are independent but friendly projects. Funded by the company’s founder, Pavel Durov, TON was also involved in negotiations with US regulators in May 2020.
Recognized as a Layer 1 blockchain, TON has the capacity to be directly comparable to Solana and Ethereum, according to the project’s official website.
TON is trading at $1.59 at the time of writing.
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