As Bitcoin and Ethereum ETFs have exploded in the market this year, most investors have naturally set their sights on the three major value coins: BTC, ETH, and Solana. While the top three giants in the crypto world seem unshakable, it would be a mistake to ignore other tokens with immense growth potential in this round of bullish market. Enter Toncoin (TON), a token poised for a significant rise.
Addressing Web3's Pain Points
Before diving into TON's strengths, let's acknowledge some of the more concerning pain points plaguing current Web3 projects. Firstly, many projects spearheaded by Venture Capital firms (VCs) often have high Fully Diluted Valuations (FDVs) with a low circulating supply. This discourages common investors who are hesitant to buy in due to a perceived lack of value. Secondly, on-chain data for these projects can be misleadingly prosperous. Often, once the initial airdrop activity ends, on-chain data plummets dramatically, revealing the project's true lack of user engagement.
What is TON: A Breath of Fresh Air for Web3
The emergence of TON offers a solution to these very issues. First and foremost, let's take a quick look at TON. Toncoin (TON) is the lifeblood of The Open Network (TON), a decentralized blockchain platform with ambitious goals. TON aspires to revolutionize the internet by offering a suite of features that promote scalability, security, and a user-friendly experience.
TON is backed by Telegram, a massive Web2 company with a staggering 1.3 billion user base. This naturally grants TON a significant advantage in user acquisition. The TON ecosystem can leverage Telegram's existing user base to seamlessly transition them into the Web3 world, organically expanding its own user base. This eliminates the problem of fake on-chain data inflation experienced by other projects.
Furthermore, as TON continues to integrate these vast Telegram users, it injects a much-needed influx of new blood into Web3. This not only expands the user base but also strengthens the narrative and potential valuation of TON and Web3 as a whole. Historically, Web3 has been viewed as a niche industry, with traditional Web2 users lacking a clear path to entry. TON serves as a bridge, offering a gateway for a vast number of users to enter the Web3 world. With this in mind, TON's market value has the potential to reach the top 5 in the crypto space by the end of 2024.
A Multifaceted Ecosystem Fueled by Notcoin and STON.fi
The TON ecosystem encompasses a diverse range of projects, including staking, wallets, GameFi, and Decentralized Exchanges (DEXs). Among these, the GameFi sector holds the most significant potential for a breakout moment. GameFi inherently possesses the power to attract traffic and users. Take Notcoin within the TON ecosystem for example. Despite its simple gameplay – acquiring token points by tapping on a mobile screen – the game's straightforward rules have proven remarkably effective. Notcoin garnered 30 million users in a short period, with daily active users reaching a peak of 5 million. This viral effect successfully brought the TON ecosystem to the attention of a wider web2 audience.
In addition to NOT, STON, as the leading project in the DEX field in the TON ecosystem, also has great growth potential. STON.fi is a project built on the TON blockchain that combines a decentralized automated market maker (AMM) exchange with features for staking and governance. Designed to address shortcomings in the DeFi space, STON.fi focuses on interoperability, security, and reducing transaction costs.
At its core, STON.fi functions as an AMM DEX, similar to Uniswap or Sushiswap on the Ethereum blockchain. Users can swap Toncoin, the native token of the TON blockchain, for any other coin or token listed on the exchange. STON.fi promises users virtually zero fees and low slippage, aiming to provide competitive exchange rates. The platform boasts an extremely easy interface, making it accessible to both seasoned DeFi users and those new to the cryptocurrency space. In a word, STON shows the potential to become Binance in the TON ecosystem.
Conclusion
With its unique advantages, TON is poised for a remarkable journey. Backed by a giant like Telegram, a robust ecosystem encompassing various projects, and the potential for a user explosion fueled by GameFi, TON presents a compelling investment opportunity. While the top of the crypto market might seem occupied by established giants, TON's potential to disrupt and secure a top 5 position in market cap by the end of 2024 shouldn't be underestimated.
