The cryptocurrency landscape is ever-evolving, and recent insights from Bitget, a prominent cryptocurrency exchange and investor in The Open Network (TON) Foundation, shed light on the future of the TON ecosystem. In a newly released research report, Bitget presents a series of ambitious forecasts that could shape the trajectory of TON, particularly in light of the ongoing regulatory scrutiny surrounding its parent company, Telegram.
Contents
De-Telegramization: A Strategic Shift for TON
One of the standout predictions from Bitget is the necessity for TON to distance itself from Telegram to mitigate potential regulatory risks. The report suggests that, while the TON blockchain will continue to leverage Telegram’s extensive user base in the short term, a long-term trend toward “de-Telegramization” is likely. This move could be essential for the ecosystem’s growth and sustainability, allowing it to navigate the regulatory landscape more effectively.
“In the long run, as the ecosystem develops and infrastructure improves, there will likely be a trend towards ‘de-Telegramization’ to mitigate regulatory risks associated with Telegram,” Bitget notes. This pivot could enable TON to cultivate a more independent identity while still benefiting from Telegram’s initial user influx.
Toncoin’s Promising Outlook
Bitget’s report also highlights optimistic forecasts for Toncoin (TON), the native cryptocurrency of the TON blockchain. The exchange predicts that Toncoin will likely outperform Bitcoin’s spot returns in a bullish market. As the market trends upward, Bitget anticipates that Toncoin’s value will rise alongside broader market movements, providing a significant opportunity for investors.
The report underscores that institutional support for the TON ecosystem is expected to grow, with many institutions favoring over-the-counter (OTC) purchases of Toncoin. This increased institutional interest could further bolster Toncoin’s market position and enhance its legitimacy in the eyes of potential investors.
Remarkable Growth Amidst Challenges
The TON ecosystem experienced tremendous growth in 2024, particularly due to 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 an impressive $776.6 million, marking an astonishing surge of over 5,300%. Despite facing a subsequent 50% drop later in the year, the ecosystem has shown signs of recovery, with the TVL reaching $420 million as of September 24, according to DefiLlama data.
Interestingly, Toncoin has still delivered notable returns this year, achieving at least 140% growth since the beginning of 2024. In comparison, Bitcoin has recorded a 44% increase over the same period, indicating that Toncoin’s performance is quite competitive within the crypto market.
Strategic Investment and Continued Involvement
In addition to its predictions, Bitget recently announced a strategic investment of $30 million in the TON blockchain, signaling its commitment to the ecosystem’s development. This financial backing is expected to play a significant role in shaping the future of TON as Bitget aims to be more involved in its governance and development initiatives.
Since integrating the TON mainnet into its crypto wallet in November 2023, Bitget has emphasized how this partnership has contributed to its platform’s growth, driven by the rising demand for innovative projects within the TON framework.
Regulatory Landscape and Future Considerations
As the TON ecosystem charts its path forward, it must navigate the complexities of the regulatory landscape. Telegram’s CEO, Pavel Durov, recently announced that the messaging platform would share user IP addresses and phone numbers of those who violate its rules in response to legal requests. This shift raises concerns about user privacy and the broader implications for TON as it seeks to differentiate itself from Telegram.
Cointelegraph reached out to both the TON Foundation and Bitget for comments regarding the potential “de-Telegramization” of TON by 2026 but did not receive a response at the time of publication.
Conclusion
Bitget’s research report offers a compelling glimpse into the future of the TON ecosystem, emphasizing the importance of strategic adjustments to thrive in a changing regulatory environment. With optimistic predictions for Toncoin and a clear pathway toward greater independence from Telegram, the TON ecosystem is poised for potential growth. As the cryptocurrency market continues to evolve, stakeholders will be watching closely to see how these predictions unfold and the impact they have on the broader blockchain landscape.
Source: CoinTelegraph
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