Telegram-Linked Tonkeeper Wallet Tops Google Play Store

  • Tonkeeper Wallet dominates the Google Play Store.
  • The Telegram-compatible wallet incorporates various innovative features to offer a better user experience
  • TON is on a seemingly unstoppable ascent.

The Telegram Open Network (TON) faced a major setback in 2020 when the U.S. Securities Exchange Commission (SEC) forced it to return $1.2 billion to investors over allegations of offering unregistered securities. Fast-forward to today, and following a post-SEC community takeover, TON has rebounded strongly to become a top-10 cryptocurrency.

TON continues to secure major partnerships to broaden its reach and appeal. Most notably, it has partnered with Tether to offer the USDT and XAUT stablecoins on the TON chain, spurring expectations of even greater achievements ahead. The latest sign of this growing momentum is the Telegram-compatible wallet Tonkeeper dominating the Google Play Store

Tonkeeper Wallet on a Roll

According to Haseeb Qureshi, managing partner at Dragonfly Capital, the Telegram-compatible wallet TonKeeper is currently the most downloaded app in the Finance section of the U.S. Google Play Store. Qureshi also noted that several other crypto apps are ranking highly in downloads at present.

Tonkeeper announced on June 6 that they had reached 10 million active users, attributing this growth to innovative features. These include gasless USDT stablecoin transactions and its “Battery” feature, which eliminates the need to hold TON tokens to cover gas fees. With Battery, users can charge their account using a bank card or stablecoin, while Tonkeeper absorbs the gas fees.

By absorbing these gas fees, the Battery feature leads to a more frictionless user experience. CTOL Digital Solutions noted that Battery has facilitated over 1,000,000 transactions over the past month alone, underscoring market demand for such a feature.

Nonetheless, recent weeks have seen the TON chain under fire over market manipulation allegations.

Telegram Accused of Manipulation

The TON chain was recently accused of market manipulation after a market cap revaluation reduced the project’s total value by $7 billion, causing the coin to tumble out of the top 10. A CoinGecko re-evaluation excluded locked and reserved tokens that were previously included in TON’s valuation, sparking allegations that the TON team had deliberately misled investors.

However, TON has mounted an impressive 16% recovery since then, setting a new all-time high of $7.84 on June 5. This surge has propelled it back into the top 10, leapfrogging Cardano once more to claim the 9th spot by market capitalization. 

This rebound suggests the ecosystem retains significant momentum and faith from investors, despite allegations of market manipulation.

On the Flipside

Why This Matters

Tonkeeper’s success underscores that users value a simple, frictionless experience. Combined with TON’s seemingly unstoppable rise, this points to a promising future for the wallet provider.

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Written by on 2024-06-07 15:00:00.

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