Reporting from Coinagpe, TON has outperformed Bitcoin and other crypto assets this year following the positive development of the network and a surge in on-chain transactions .
A new report by on-chain analytics firm CryptoQuant shows TON's skyrocketing performance as its players surged to their highest level this year (YTD).
“TON has outperformed Bitcoin by 118% this year, demonstrating strong network growth. Bitcoin had also surged to an all-time high above $72,000 before its recent correction to current levels. Despite widespread fluctuations in the market, TON and BNB have outperformed the market leaders in this period.”
Analysts Suggest Trading Patterns
The token associated with Telegram has continued to rally to gains this month, prompting analysts to make several projections.
CQ Ben, an analyst at CryptoQuant stated that one of the ways he invests in altcoins is by isolating positive trends in projects with USD and BTC values.
“From the main layer 1 blockchains, TON and BNB are the only assets that managed to significantly outperform bitcoin this year. In my opinion, TON's relative strength against bitcoin coupled with Telegram's network effect makes it a crypto worth monitoring in this bull run .”
Driving Factors for the Rise of TON
The increase in asset prices and network performance occurred after a partnership with social media platform, Telegram. This month, Pantera Capital made an undisclosed investment into the network based on its Telegram partnership, a known motive for the company.
According to Pantera, the move positions TON to become a larger crypto network that leverages Telegram's reach. The social platform has more than 900 million users and 36.7 million monthly downloads.
Additionally, the launch of Notcoin and its airdrop have seen bullish activity around Toncoin and its network.
The buzz is visible as play -to-earn games run on Telegram which is expected to see an increase in the number of players. Around 34 million users have participated in mining this token.
Telegram and Notcoin: The Key to TON's Success
Furthermore, Telegram is one of the most popular social media platforms in the world, with more than 900 million active users. This gives a TON of access to a large and diverse user base, which can help drive its adoption and growth.
Additionally, Telegram has unique features that make it ideal for blockchain and decentralized applications ( DApps ).
For example, Telegram allows users to create groups and channels, which can be used to build communities and spread information about TON.
Meanwhile, Notcoin is a play-to-earn game built on the TON blockchain. The game allows users to earn TON tokens by completing tasks and challenges.
Notcoin has become very popular, with more than 34 million users having participated in token mining. Notcoin's success has helped increase awareness of TON and attract new users to the network.
The game has also helped drive on-chain activity in TON, which has contributed to an increase in the token price.
Overall, TON is a very promising project with great potential for growth. The network has a strong team, innovative technology, and a large user base.
With the launch of Notcoin and partnership with Telegram, TON looks poised for significant growth in the future.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.