The secret behind Toncoin’s success

Toncoin has had an impressive year, with Telegram nearing one billion monthly active users.

Despite the stability of the top cryptocurrencies, Toncoin has surged in recent months. Known as "the future of currency," it is closely linked to Telegram and has had remarkable growth since January 1.

Starting as the 15th-largest coin at $2.33, Toncoin's market cap doubled to $17 billion in just seven months, propelling it to ninth place. It is now close to overtaking Dogecoin, another significant milestone.

The TON Story

Telegram initiated the development of its own Layer 1 chain in 2017, leading to the sale of "Gram tokens." However, legal challenges forced them to abandon the project in 2020. A decentralized developer team took over, and The Open Network has thrived.

In September 2022, TON's self-custodial wallet was integrated into Telegram, enabling direct crypto payments to businesses on the platform.

Additionally, Telegram's Mini Apps allow for seamless transactions, potentially making it a Western equivalent to China's WeChat "super app."

Insatiable Demand and Hamsters

With 950 million monthly active users and plans for a billion, Telegram is well-positioned to introduce cryptocurrencies and Web3 to a vast audience.

The viral success of Hamster Kombat on Telegram, with over 250 million sign-ups, is a testament to the platform's potential for app proliferation.

Furthermore, high-profile integrations from major crypto companies, such as USDT payments and Bitcoin price prediction games from OKX, reinforce Telegram's momentum.

Potential Concerns

However, there are concerns about Telegram becoming a new "dark web," with illicit activities taking place openly. This, combined with the widespread support for crypto payments, could trigger global regulatory scrutiny.