Binance The exchange has recently been listing altcoins in the TON ecosystem one after another, causing fluctuations. After the consecutive listing of 5 different cryptocurrencies, Wu Blockchain asked the expert named WuliGy, who closely follows the TON Coin ecosystem, about the reasons behind this. This evaluation, which can contribute to our current view of the altcoin markets, will provide the opportunity to look at them from different windows.
Binance and TON Coin
Telegram supported TON Coin It has eliminated a major problem for new projects in crypto. New protocols have to spend a lot of money on advertising and marketing to reach thousands of users. However, TON Coin is integrated with Telegram, which has 950 million monthly active users, and offers ease of access with Telegram’s mini application feature, so it can quickly grow its projects in a short time.
We discussed at length how important user experience is for Web3 in the example of Stars Arena, which offers a registration feature integrated with X and which we appreciate because it does laborious work such as creating a wallet in the background.
Now let’s move on to the review made by WuliGy. Why is Binance quickly listing tokens in the TON Coin ecosystem?
“I think the TON ecosystem has gained a lot of momentum, especially after Notcoin. TON, which is backed by Telegram, has a huge user base, and Notcoin really started a trend for Telegram mini apps.
Users flocked to the TON ecosystem with the motivation for rewards. The main goal for exchanges is to attract new users. TON Telegram Mini-apps powered by provide a large user pool. For example, we have many examples, from Notcoin to Dogs and more recently Hamster and Catizen. We know that Hamster has over 250 million users and Catizen reached 10 million users just a few months after its launch.
“For major exchanges, including Binance, this is a great way to grow users. The ecosystems behind these tokens have huge potential, especially in regions like the CIS, South Asia, and areas where credit cards are less prevalent.”
WuliGy goes further and believes that ByBit and other major exchanges will join this trend and show more interest in tokens in the TON ecosystem to support user growth.
Altcoins in the TON Ecosystem
The total market value of TON Coin and its related tokens is $15.4 billion. The daily trading volume is $523 million. Although the majority of the market value comes from TON Coin, TON Coin only represents half of the volume. So, even though their market caps are relatively small, we see that these altcoins are attracting significant interest from investors.
What you need to look at in the image above is the volume data. Exchanges tend to list assets that draw volume because that’s one way to attract users. Even though it’s just launched DOGS the most notable asset in the ecosystem. There are also NOT and others. With the new altcoins to be listed, this volume and market value figures are likely to climb rapidly.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
