The market has been dismal lately, especially for altcoins amidst Bitcoin’s volatile performance. Many projects have suffered significant setbacks. However, in this bleak market, Ton has stood out remarkably. Over the past thirty days, Ton has surged by 23%, with its Total Value Locked (TVL) skyrocketing more than six times since March, marking a dramatic rise. Projects within the Ton ecosystem, like Notcoin, have seen substantial increases in both price and user base. Is Ton’s ecosystem poised for a summer boom?
Ton’s New Highlights
Backed by Telegram’s 900 million active users, Ton’s ecosystem boasts a unique strength. Despite criticisms of limited integration with Telegram, recent developments suggest a fundamental shift. Since March, Ton’s TVL has surged from under $23 million to $145 million, a growth exceeding sixfold. During this period, TON’s price has also tripled, demonstrating resilience even in bearish markets. What are the driving factors behind these positive developments?
1) Utilizing TON for Telegram’s Ad Platform
Unlike mainstream social platforms relying on user data for targeted ads, Telegram, known for its privacy commitment, lacked a precise ad platform for years. This changed with the introduction of an ad platform in late February, independent of user data, alongside a subscription service. Starting March, Telegram’s ad platform (monthly views surpassing 1 trillion) opened to advertisers in nearly a hundred countries, where channel owners receive 50% of ad revenues settled in TON.
Next month, channel owners on Telegram can start earning money from their work. Telegram’s broadcast channels generate 1 trillion views per month. Currently, only 10% of these views are monetized through Telegram ads, making it a privacy-focused promotional tool.
2) Launch of Ton Space
Launched in September 2023, Ton Space distinguishes itself from Telegram’s KYC-bound Wallet, allowing users to manage private keys independently like conventional crypto wallets. With Ton Space, users seamlessly integrate their Telegram accounts with various DeFi, GameFi, and NFT services within the Ton ecosystem. Imagine accessing Pinduoduo or JD.com directly within WeChat; similarly, Ton’s integration lowers barriers for Telegram’s 900 million active users to participate in Web3.
For Ton’s ecosystem, this integration is pivotal, backed by Telegram’s vast user base.
3) Mini Applications Promotion
Following the establishment of payment channels, Telegram began promoting mini applications, akin to WeChat’s mini-programs, accessible without installation. Notcoin, a recent hit, exemplifies this trend—a platform with embedded mini-programs where users participate in activities like Click to Earn directly within Telegram. With Web3 wallets integrated, user engagement barriers are significantly reduced, leveraging Telegram’s traffic to propel various Web3 projects without traditional intermediaries.
Beyond these, deepening collaboration between Telegram and Ton encompasses numerous initiatives since the latter half of 2023, signaling a strategic move into Web3. These efforts have driven substantial growth in TON’s price and TVL, establishing a robust profit model beyond ads and subscriptions for Telegram.
Ton Ecosystem Overview
Ton.app currently hosts 874 projects, a modest figure compared to Ethereum, Solana, or Polygon ecosystems. Notably, the ecosystem’s TVL has grown significantly in the past eight months, highlighting its strength. Key projects like Notcoin, Catizen, and Hamster Kombat have garnered substantial user bases, contributing to Ton’s ecosystem vibrancy.
In conclusion, Ton has shone brightly in a lackluster market, yet challenges remain. The ecosystem’s developer base is small, and security concerns persist, especially amidst Telegram’s ongoing account theft issues post Web3 integration. Nevertheless, these issues can be addressed through iterative optimization, typical of Web3’s evolving landscape.
This article was originally published in collaboration with [source].
