TON Blockchain Projects Thrive with Telegram Mini Apps

TON Blockchain Sees Rapid Growth with New Partnerships

Bitget, a leading cryptocurrency exchange and major investor in The Open Network (TON) Foundation, has published a research report outlining ambitious forecasts for the TON ecosystem. The report suggests that the ecosystem may need to distance itself from Telegram to navigate ongoing regulatory challenges.

Regulatory Concerns Prompt 'De-Telegramization'

According to Bitget, the future of TON may involve a trend toward “de-Telegramization” to mitigate regulatory risks associated with the popular messaging platform. Despite this, the report acknowledges that the TON blockchain will still rely on Telegram's user base in the near term, but long-term development may necessitate a shift away from its origins.

Toncoin Set to Outperform Bitcoin in Bullish Market

Bitget predicts that Toncoin, the native cryptocurrency of the TON blockchain, is poised to outperform Bitcoin’s spot returns in a bullish market scenario. The report anticipates increased institutional interest in Toncoin, with many institutions expected to favor over-the-counter (OTC) purchases.

TON Ecosystem Sees Massive Growth in 2024

The TON ecosystem experienced significant growth in 2024, driven by the rapid adoption of Telegram Mini Apps like Notcoin and Hamster Kombat. By July 2024, the total value locked (TVL) in various TON projects peaked at $776.6 million, marking an astonishing increase of over 5,300%. After a subsequent decline, TON's TVL has recently rebounded to $420 million as of September 24.

Bitget’s Strategic Investment in TON

Following a $30 million strategic investment in the TON blockchain, Bitget aims to deepen its involvement in TON's governance and future developments. This investment underscores Bitget's commitment to supporting the growth of the TON ecosystem, which has seen increasing demand for new projects.

Future Challenges Amid Ongoing Investigations

Bitget’s predictions come at a time when Telegram is implementing stricter policies, with CEO Pavel Durov under investigation in France. As regulatory landscapes evolve, the TON community will need to navigate these challenges while capitalizing on the growth potential of its ecosystem.

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