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Digital Currency/Stablecoin/Tokenization Series: Luring Yields in Telegram’s Crypto “Gram”
Major wall street companies, like Nike, JP Morgan, Facebook are in the news of blockchain/Crypto projects. While Telegram is no exception for now.
Even before Gram is released to the public, Telegram Messenger’s cryptocurrency might have appreciated exorbitantly by exponential returns from the last year, when it began one of history’s biggest ever initial coin offerings. Just ask one of the early investors.
As per the latest reports, Telegram appears to be unveiling cryptocurrency to the public, in the name of ‘GRAM’, and trading in the illicit secondary market is already the place and it is the early investors who are gaining record returns on these tokens with the associated risks are also high. Telegram has already muffed a previously revealed launch date.
Telegram came up with an initial coin offering (ICO) worth 1.7 billion dollars in the last year via OTC (Over-the-counter) desks and SPVs (Special Purpose Vehicles), investors were abstained from selling or pledging their tokens prior to the official launch in any manner.
Thereby, telegram’s crypto project is universal fact among the crypto community that Telegram is most likely to launch their much-awaited and deferred domestic blockchain called ‘TON’ which is the Telegram’s Open Network, at the end of this October.
The social media giant is eyeing on VC firms to infuse funds in its cryptocurrency project for sums as large as $1 billion, according to NY Times reporter Nathaniel Popper. As per his remarks, the company is likely to design its stablecoin for WhatsApp using a bunch of fiat currencies as collateral.
On the flip side, another most renowned messaging app in the social networking universe, Telegram, may officially launch its blockchain and gram tokens, which are readily available for trading for attractive returns with numerous trading mechanisms to purchase grams.
But as of now, OTC (over the counter) desks and investment funds to sale on smaller crypto exchanges are in place, although, all these mechanisms appear to be unauthorized, gram tokens are available in the market for buying.
OTC traders make confidential GRAM deals based on mutual consents. The attractive trading function is taking place by reselling often within the price band of 0.37 dollars and 1.33 dollars per gram token during the initial phases only and the return of gram tokens in percentage terms is considerably surging; the prevailing price range is increased to USD 1.60 – 2.00 levels. But the caution is that although it lures with its exponential returns, buyers risk it all as the confidentiality in this secondary market emboldens frauds.