MOSCOW, May 28. /TASS/. The Toncoin cryptocurrency rose by more than 17%, according to data from the Binance platform. This surge followed the announcement of a one-year partnership agreement between the messaging app Telegram and the startup xAI.
As of 3:46 p.m. Moscow time, the TON price stood at $3.698 (+23.8%). By 4:14 p.m. Moscow time, the cryptocurrency was trading at $3.536 (+17.55%).
According to Telegram co-founder Pavel Durov, as part of the agreement, the chatbot Grok will be distributed via the messaging app. Telegram will receive $300 mln from xAI in cash and equity, and will also earn 50% of xAI subscription revenues through Telegram.
The Open Network (TON) is a third-generation Proof-of-Stake blockchain, initially developed in 2018 by the Durov brothers, founders of Telegram. It was later transferred to the open TON community, which has since maintained and continued to develop the project.
