Bitget ideas. TON’s distance from Telegram and Toncoin’s prospective ascent
Active player in the Open Network (TON) ecosystem, Bitget offers bold predictions regarding TON’s future. The paper claims that in the next two years Telegram may move towards a “de-telegraphization” as the regulatory pressures on the network grow more intense. This potential modification would enable the TON ecosystem to avoid regulatory issues regarding its interaction with the chat platform.
At least until 2024, Telegram’s user base will support the TON blockchain even with projected fragmentation. Bitget estimates that the native TON network currency, Toncoin, would most likely outperform Bitcoin’s spot returns in a bullish market. The article mentions increasing institutional interest as many businesses intended to purchase Bitcoin through over-the-counter (OTC) trades.
Thanks mostly to Telegram Mini Apps like Notcoin and Hamster Kombat, the TON ecosystem grew somewhat noticeably in 2024. By mid-2024, the total value locked (TVL) in TON projects came at $776.6 million, a notable increase of almost 5,300%. Although the TVL dropped by half later that year, ongoing initiatives at recovery have brought it back up to $420 million as of September.
Toncoin has shown amazing resilience all year long with a 140% return from January, despite challenges like the August arrest of Telegram CEO Pavel Durov. By contrast, over the same period Bitcoin has risen by 44%. Both cryptocurrencies have shown similar rise over the past year; Toncoin rose 148% while Bitcoin rose 140%.
Based on its $30 million TON blockchain investment made in tandem with Foresight Ventures, Bitget’s favorable perspective makes sense. This investment aims to raise Bitget’s impact in the TON ecosystem’s governance and expansion. Bitget believes, even if ideally evolves away from its reliance on Telegram point of view, the TON network is positioned for constant development and success as the legal environment changes.
Telegram stresses ongoing research and follows stricter policies, but the TON ecosystem still attracts attention and helps to position itself as a prominent actor in the evolving crypto landscape.
