Total Value Of Telegram Cryptocurrency May Reach $29.5 Billion
The capitalization of the Gram token, owned by the blockchain project Telegram Open Network (TON), may reach $29.5 billion in December 2019. Such information is published by The Bell, which refers to the data of the crypto bank HASH.
Representatives of the financial institution believe that the price of one token will be $5.9 by the beginning of 2020. This figure is indicated in the letter to the project investors.
The value of the token is estimated very roughly, the authors of the HASH study explain. They believe that it is difficult to evaluate cryptocurrencies, and there is no such system in the world that would allow doing it precisely.
The HASH specialists have proposed their own methodology and stressed that it allows calculating the price of cryptocurrency most fairly, if not correctly. According to the firm, it is a “rational network value”, which combines current and discounted value added in the future. The price of $5.9 is referred to as the target one.
The TON project's white paper states that 5 billion coins will be issued in total. The first issued token will cost ten cents, each subsequent one will be priced one billionth higher. Depositors will receive 44% of the coins, developers — 4%, the remaining ones will be reserved.
Pavel Durov, the creator of Telegram, has not yet commented on this information.
As previously reported, the Federal Service for Supervision of Communications, Information Technology and Mass Media in Russia plans to introduce a new technology to block Telegram.