From July 10, Telegram’s native tokens will be available for sale at Liquid exchange- a Japanese based cryptocurrency platform. Buyers will be shocked to know that the tokens will be exchanging hands at $4. This is three times what investors paid per token during the initial coin offerings. During the initial coin offering, the Gram’s tokens were retailing at $1.33.
According to a press release, the initial coin offering was held in March at Liquid exchange platform and ended with Telegram walking out with $850 million making Telegram’s valuation reach $1.7 billion. Once trading of Gram’s tokens commences, traders who buy the tokens via QASH Liquid’s native token will get a discount of $3.5.
There is no direct connection between the two entities: Gram Asia and Telegram. However, Gram Asia is set to unveil Telegram Gram’s token yet Telegram has not officially launched them.
For the launch, Telegram has set a later date in the third quarter of 2019. As per the details on the press release, Durov, Telegram’s founder, was targeting to debut his coin before that of Libra, Facebook’s coin.
Even with this in mind, Gram Asia has set its date and rolled out plans to unveil Gram token on Liquid exchange. However, this is coming amid conflicting reports from an unnamed Telegram investor who came out saying no one is supposed to sell Grams before its official launch. According to the investor, they are prohibited from selling the tokens before the official launch. Despite these terms and conditions on the contract, Liquid exchange has gone ahead with its plans.
Despite conflicting reports surrounding the launch of Gram tokens on Liquid exchange,their entry into the market will be a gamer charger. Gram will enable millions of Telegram’s users to execute transactions at faster speeds than transactional speeds on Ethereum and Bitcoin blockchain.
Besides that, Gram tokens will be entering the market to give Facebook Inc Libra a run for its money. This will ultimately translate into a competitive market that will offer more options for crypto consumers.
