Price: $0.43264 0.5795%
Market Cap: 63.57B 1.8866%
Volume (24h): 10.76B 0.4%
Dominance: 1.8866%
Price: $0.43264 0.5795%
Market Cap: 63.57B 1.8866%
Volume (24h): 10.76B 0.4%
Dominance: 1.8866% 1.8866%
  • Price: $0.43264 0.5795%
  • Market Cap: 63.57B 1.8866%
  • Volume (24h): 10.76B 0.4%
  • Dominance: 1.8866% 1.8866%
  • Price: $0.43264 0.5795%
Home > Information news > Can TON be next Solana or Ether? Data suggests this

Can TON be next Solana or Ether? Data suggests this

Release: 2024/06/29 01:06 Reading: 880

Original author:Todayq News

Original source:https://coinmarketcap.com/community/articles/667ee2aa999c84484ce6e3d3

Can TON be next Solana or Ether? Data suggests this

TON: A Promising Contender with Challenges

Sentiment in the market suggests that TON (The Open Network) has the potential to rival Solana (SOL) or Ethereum (ETH). This is largely attributed to its association with Telegram. However, it faces several significant challenges that temper this optimism.

Overestimation of Telegram's Impact

Despite Telegram's impressive global reach and monthly active users (MAUs), a report indicates that the market may be overestimating its ability to distribute TON. Technical limitations, such as TON's programming language limitations, and its fully diluted valuation (FDV) pose challenges.

Toncoin's Surge

Toncoin (TON) has experienced a remarkable surge of 226% year-to-date (YTD), continuing an upward trend with an 18% gain in the last 30 days. Trading at $7.55, it remains 16% below its all-time high. With a market capitalization of $18.6 billion, TON ranks as the 8th largest cryptocurrency.

Telegram's User Base: Strengths and Concerns

Telegram's extensive user base is a significant asset for TON. However, daily active users (DAUs) paint a different picture. Estimates range from 55 to 200 million, suggesting a lower engagement rate compared to MAUs. This disparity raises questions about the monetization potential of Telegram's user base and its impact on TON's growth.

Technical Hurdles

Another obstacle is TON's native programming language, FunC. Unlike the more familiar and widely used Ethers Solidity or Solana's Rust, FunC is more akin to C, which is less popular and less developer-friendly.

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