The "touchend" event is a part of the Touch Events API in web development. It occurs when a touch point is removed from the touch surface, such as when a user lifts their finger off a touchscreen device. This event is crucial for detecting the end of a touch interaction, allowing developers to trigger specific actions, like closing a menu or submitting a form. In contrast to the "touchstart" and "touchmove" events, which indicate when a touch begins and when it moves, "touchend" signifies the completion of the touch gesture. It helps create responsive and interactive user experiences on devices like smartphones and tablets.