WhatsApp crash sends Toncoin higher, coin climbs 54% in a week

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Last Updated on 27 October 2022 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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There was a time when the term WhatsApp Crash wouldn’t really have much of an impact, but since 90% of the Western world uses social media and messaging is a big part of it, Tuesday’s crash (which lasted just two hours) was worldwide news. Users spoke of the experienced panic during those two hours in The Telegraph, BBC and Euronews. Ok, we’re exaggerating, but you get the point.

Funnily enough, the outage of WhatsApp caused Google and other search engines to record a spike for the keyword ‘Telegram’, a direct competitor of WhatsApp.

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Pavel Durov

And in the crypto market, a smaller coin linked to Telegram climbed some 10% in those exact two hours. Over the past week, this digital coin, called Toncoin, has risen about 57% (also after it was announced that Toncoin would be listed on the popular KuCoin platform), almost making up for its 2022 loss.

The link between Telegram and Toncoin works like this. Telegram, which has about  700 million users around the world, is keen to sell popular usernames through an online auction.

Pavel Durov, founder of Telegram, said last summer that the Ton network is probably the best placed blockchain for such an auction. Since then, Durov’s name recognition combined with WhatsApp crashes have been enough to take TonCoin value gradually higher.

So now you already know what will / can happen the next time you read the headline ‘WhatsApp crash.’

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