The amount of applications for Telegram ICO reached $3.8 billion

At the preliminary stage of Telegram’s ICO, investors submitted applications for $3.8 billion. This is almost five times more than the pre-sale volume, which the company has already increased from $500 to $850 million. Funds that managed to pass the selection offer to resell their tokens at a markup of 30-40% .

• The first stage of the Telegam ICO is the pre-sale of tokens (they are also the future Gram cryptocurrency) on favorable terms for large investors with a lot size of at least $20 million. A week agoit became obvious that demand far exceeds supply, and the company raised the pre-sale amount from $500 to $850 million
• The public offering will take place in March, its volume is estimated at another $1.2 billion.
• Now the collection of applications for the pre-sale is completed, and due to the hype around the ICO, a market for resale of tokens has already appeared. Funds that managed to gain access to the placement offer to repurchase their lots at 30-40% more expensive.
• The price at which early investors receive tokens is $0.3 per Gram. ICO participants expect that in the future it will grow to $1.5-3.5.
• A source close to Telegram called such resale a scam, and Pavel Durov himself asked to be informed about resale offers.
• Telegram's ICO will be the largest ICO in history. His goal is to raise money to create a payment system on the Telegram Open Network (TON) blockchain, which will compete with Visa and MasterCard. You can read more about how TON will work here .

What's in it for me?

Most likely, participation in Telegram’s public ICO will also be profitable - the volume of oversubscription shows that the project has become one of the main targets for traditional investors who want to make money on the crypto-economy.

Marina Bocharova, The Bell