Cryptocurrency exchange Bybit released its first report on The Open Network (TON) ecosystem, providing an update on efforts to integrate the messaging application Telegram into the Web3 space. The report details the advancements in TON’s ecosystem development and specifically highlights how TON’s partnership with Telegram is promoting adoption through a network of casual games that offer cryptocurrency-based rewards to users.
Telegram has nearly one billion users worldwide. Although the integration of TON-based applications into the platform has seen success, there remains a bigger potential for further expansion. The platform’s monthly active user base is projected to grow by 50% by 2028, reaching approximately 500 million users.
TON has set a goal to onboard 30% of Telegram’s user base by 2028, which could advance mainstream adoption of Web3 technologies. At present, it has made notable progress, with 280,000 daily active users on its network and handling an average of 800,000 transactions per day. Additionally, the price of Toncoin (TON) has increased by over 200% in the past year, marking it as one of the top-performing cryptocurrencies during that period.
The report also emphasized that TON’s strategy centers on integrating mini-applications within Telegram, which allows for seamless onboarding since these applications are embedded directly within the platform. The library primarily features tap-to-earn games, such as Notcoin and Hamster Kombat, which combine gameplay with monetary rewards. Additionally, TON offers decentralized finance (DeFi) mini-applications for trading and managing cryptocurrencies, encouraging users to explore DeFi.
Bybit notes that integrating Web3 experiences into Telegram could pave the way for widespread adoption, providing a pathway for a large user base to engage with digital assets and decentralization.
Bybit Lists Hamster Kombat On Its Pre-Market Trading
Founded in 2018, Bybit is one of the largest cryptocurrency exchanges by trading volume, with a user base of 20 million people. The platform specializes in cryptocurrency trading and offers access to over 570 payment methods, supporting transactions in more than 60 local currencies.
Recently, Bybit introduced Hamster Kombat (HMSTR) as the latest feature on its pre-market trading platform. This new addition allows users to trade new tokens before they are officially listed for spot trading on the platform.
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