The encrypted messaging service Telegram raised the target for the largest initial coin offering ever to $2 billion, according to potential investors.
Telegram is seeking $850 million in a private sale of tokens to large investors this month and another $1.15 billion in a subsequent public ICO in March. The messaging service, previously sought to raise a total $1.2 billion, according to an investment proposal seen by Bloomberg News.
According to a managing partner of Exante, which trades cryptocurrencies, Gregory Klumov. The demand has been so high that a secondary market has already formed.
Klumov said “Some western funds that received a pre-ICO allocation are already offering to resell since the price of the public ICO in March will be twice as high.”
Telegram founder Pavel Durov, is creating a payment platform using multi-blockchain architecture that could compete with Visa and Mastercard, bringing digital assets to the mainstream, according to the offering proposals.
TON’s ICO Roadmap
In true ICO fashion Telegram’s token sale will take place before the company’s product is available. However, the tokens themselves will only be released after a number of features, according to the company’s rough guideline shared with investors shown below:
- Q1 2018 — secure ID launch
- Q2 2018 — MVP of test of network of TON
- Q3 2018 — testing and security audit for TON
- Q4 2018 — stable version of TON deployed
- Q4 2018 — Telegram wallet launched
- Q1 2019 — TON-based economy goes live inside Telegram
- Q2 2019 — TON services, storage and proxy launched
By 2021, Telegram plans to rebrand TON to ON with the network managed by its foundation.
“Telegram will serve as a launch pad for TON, ensuring its technological superiority and widespread adoption on the initial stages, but the future of TON is in the hands of the global open-source community,” the company wrote in the whitepaper.
Litecoin Foundation & TokenPay strike a strategic partnership
TokenPay, The self-proclaimed “Bitcoin on steroids” has entered a partnership with the Litecoin Foundation for a 9.9% stake in the WEG Bank in Germany. In May 2018 TokenPay acquired just under 10% of WEG Bank with the option to purchase up to 90% if approved by the regulatory commission of Germany. In a move to leverage Litecoins marketing and technology service TokenPay has handed the 9.9% over to Litecoin in hopes that it will put TokenPay on the map as a major player in the cryptocurrency market.
TokenPay CEO Derek Capo said in a recent statement “We are building an entire ecosystem that includes merchant services, banking, escrow, gaming, e-sports, employment services, etc., where we have entire control of the vertical integration needed to lower costs, but also control our destiny. Litecoin is a top-five blockchain in the world, and boasts more than one million followers worldwide, which helps increase the chances of TokenPay’s ecosystem to succeed.”
What does this mean for TokenPay & Litecoin?
This partnership will provide TPAY access to LTC’s massive user base and will give the users the opportunity to buy, sell & trade as well as gain access to the company’s debit card service. In turn, Litecoin will benefit by having exclusive access to TokenPay’s long-standing bank connections to hopefully integrate the LTC blockchain network into a wide range of monetary associations.
Charlie Lee, CEO of the Litecoin Foundation responded to the partnership by saying “This partnership is a huge win-win for both Litecoin and TokenPay. I’m looking forward to integrating Litecoin with the WEG Bank AG and all the various services it has to offer, to make it simple for anyone to buy and use Litecoin.”
Each company will play a crucial roll in the partnership by focusing on TPAY crypto and its accompanying blockchain as well as the TokenPay multisignature transaction engine, which should accelerate payment and transaction speeds tremendously for both companies.
There is no word yet on exactly when the technology side will be implemented but TokenPay is geared up to make some major moves that include partnering with multiple other financial establishments.
Top Cryptocurrencies to Buy in 2018
The cryptocurrency world is more buoyant than ever, and with new tokens and platforms being introduced regularly, it can sometimes be difficult to discern which ones are good to buy and which ones should be left alone. To help you decide which cryptocurrency to buy we have compiled a list of crypto tokens that might be worthy of your consideration and have potential in 2018.
Bitcoin suffered a rocky beginning in 2018. After surging significantly in value, the price of Bitcoin dropped. But it should never be discounted as a currency. It has been on the market for many years, made many people rich and is now enjoying widespread popularity. With the blockchain technology being implemented in many practical ways, the world over the currency is set to have continued success as 2018 draws on. During Q1 and Q2, it has been recovering from its previous setbacks.
Like Bitcoin, Litecoin had a pretty devastating start in 2018 – the price plummeted as investor confidence dropped. Now it is also gradually recovering lost ground in the market. Many crypto enthusiasts are buying Litecoin because it is a faster alternative to Bitcoin and the price is still relatively low, which makes it possible to purchase the coin in larger sums than its major counterpart.
Ripple is an unusual altcoin with a lot of real-world application and potential. The platform underlying Ripple is already being integrated across the world by banks and financial institutions. The coin itself is thriving because there is so much real-world faith in its crypto platform. With American Express using the Ripple platform, many other large financial institutions are set to follow soon. This is definitely a token to keep your eye on, and if you think it is a sound investment, consider Ripple as an option to diversify your portfolio.
Another of the big hitters that is going from strength to strength is Ether which operates on the Ethereum blockchain. This blockchain is utilized by many companies, and because of its continued success in the commercial markets, the token has grown in value fairly consistently. Make sure you check upcoming Ethereum news as it regularly updates businesses, investors and users with any information that could prove beneficial for those using the platform and the token.
Stellar is a cryptocurrency that is aiming to overtake Ripple and compete in the financial marketplace arena. Its sole goal is to integrate fully with the financial world and provide a viable platform that connects financial institutions the world over. It’s no mean feat considering the big names already using the Ripple platform, but Stellar has grown steadily and is refusing to go away, what’s more, it is beginning to make waves among smaller financial institutions and is definitely not a coin to discount. Watch this space!
Dogecoin has long been the outsider to the crypto community. Initially created as a parody of the large cryptos and with an iconic and lovable dog on its logo, it picked up popularity quickly and is now considered one of the main crypto contenders. The investors have begun to take the coin more seriously, and in January it reached a staggering $2 billion in market capitalization. Not bad for a coin that initially started as a prank. Dogecoin isn’t thought of as a joke anymore though, it is now taken as a serious currency with a humorous edge.
Now we delve into the murky and muddied depths of the crypto world with our next entry – Zcash. The popularity of this coin is derived from its anonymity when transacting, something that has been heralded by the black market and dark web and scorned by financial regulators and law enforcement worldwide. It continues to be used widely and is performing well in terms of growth, so this coin shouldn’t be brushed aside because of its reputation. Plenty of reputable investors and users love Zcash, and it has thus far weathered the storm of scrutiny.
Dash is an innovative Crypto that doesn’t actually try that hard to compete with Bitcoin or the other altcoins, instead, their focus is on creating a crypto alternative to the likes of PayPal. Dash is a platform that aims to be accessible to everyone and anyone, whether or not you are actively involved in the crypto community. It has performed relatively well, and although it is a long way off of rivalling PayPal, it has gained a portion of the PayPal market which is really an uphill struggle.
Cardano is a new kid on the block, but it has so far managed to earn trust of many investors and hit the list of 10 largest cryptocurrencies by market cap. The team behind Cardano aims to create a distributed network that is “true to the original vision of Satoshi Nakamoto”. The project is now well under development, but some cryptocurrency enthusiasts already believe that Cardano might cause a stir to the whole industry.
TRON (TRX) Continues To Gain Support Following Mainnet Launch
The CEO of TRON (TRX) announced that OTCBTC would support the TRON Blockchain upgrade and token migration. On May 25th, 2018 TRON announced the launch of TRONVM and on May 31st activated MainNet. The Token Migration is scheduled for June 26th, 2018.
OTCBTC [OTC- over the counter, BTC- Bitcoin] is a cryptocurrency trading platform offering a variety of cryptocurrencies paired with BTC, ETH, and USDT.
OTCBTC provides global users a safe, easy-to-use and reliable blockchain service.
Justin Sun had this to say about the future of TRON (TRX)
“Our next goal is to become one of the top 6 cryptocurrencies in the world. We have actually achieved top 6 briefly on January 5, 2018 during TRON’s outstanding sprint out the gate. In 2018 we will reclaim and secure this title which will mark TRON’s global status as a mainstream public blockchain and lay a solid foundation for competition with Ethereum.”
Currently the most exciting news for TRON is still about its mainnet lunch which is attracting a lot of attention. Tron is currently is in its testing period [June 1-24] for preparation of its genesis block, followed by the Super Representative Election on the following day.
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