This year, Toncoin has grown 3.5 times to $8, displacing Dogecoin and taking eighth place in the overall cryptocurrency ranking. Unlike meme coins, which became the fastest growing group in the first half of the year, TON’s growth is ensured by objective indicators.
The value locked (TVL) of the TON network in the decentralized finance sector has grown 53 times since January to $743 million, and the coin's trading volume on some days exceeded $1 billion. For comparison, the TVL of Ethereum (the sector leader) increased by 1. 9 times, and the daily turnover did not exceed $5 billion.
Telegram audience growth
After the SEC's claims, Pavel Durov handed over the reins of the project to the crypto community. Nevertheless, the connection between Telegram and TON remains extremely close. Thus, remuneration to the owners of Telegram channels and payment for displaying advertising are made in TON. Therefore, the success of the messenger directly affects the turnover and capitalization of cryptocurrency.
Telegram’s audience increases by several hundred million active users every year and is expected to exceed 1 billion this year. And the TON network has already overtaken Ethereum in terms of network activity.
Exit to IPO
Among the plans for the next two years, Pavel Durov named the company's IPO in the United States. This event will attract widespread attention to the messenger, which is still poorly represented in the Global North. According to preliminary estimates from analytical companies, the market value of the social network is $30 billion. However, successful promotion in the West, together with a public offering of shares, can significantly increase its capitalization.
This year, the messenger was taken over by gambling addiction. First, the game Notcoin took off with 35 million active users, and now it is ahead of Hamster Kombat with 150 million. The games do not require investments, and to earn in-game currency you just need to click on the screen. Prior to listing, coins can only be exchanged for TON in the premarket. Once listed, they can be converted into fiat on crypto exchanges.
Conclusion
Telegram is showing good results both in terms of expanding its user base and monetization. Already this year it may reach self-sufficiency, and further expansion is likely to lead to increased profits.
Due to the close connection of the messenger with cryptocurrency, positive trends will lead to the growth of TON in the long term.
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TONUSDT 7.9068
