March is over, and the hype of Solana chain has begun to decline. From Bome (the book of memes) to Slerf (the sloth), various myths of 100 times a day have been born one after another. Many people have become rich, but some have also gone bankrupt. With the end of the hype of SOL chain, funds have begun to shift to other directions. Next, I will share with you a track that the instructor believes is most likely to be favored by funds: Layer1
L1 should be familiar to everyone ♥: 2327321427. I have been promoting new links such as Sui, Apt, Sei, etc. Those who listened to the advice in the early stage have at least doubled their money. Choose one of the three. You must not miss them in this bull market. Today, I want to share with you a new member. Although it is old, it is a monster. Once it starts, it will be a behemoth with a market value of hundreds of billions (more than ten times the potential). This new member is TheOpenNetwork (TON).
The public chain TON, backed by the communication software giant Telegram with 900 million monthly active users, has received continuous favorable information in the past two months, pushing the price of the currency to a new peak. At around 11:30 yesterday, it once reached 7.396 US dollars, setting a new record high again, and soared by nearly 13% in the past 24 hours. At the time of writing, it was reported at 7.377 US dollars, with a monthly increase of up to 113%.
The strong growth also made TON's market value exceed US$25.5 billion, continuing to widen the gap with ADA and firmly ranking as the ninth largest cryptocurrency by market value. The market value difference with the king of meme coins Dogecoin (DOGE) is less than US$3 billion.
What is TON?
TON is a Layer 1 public chain, which aims to build a complete blockchain ecosystem. We first divide it into several nodes, each with a unique identifier. In order to quickly know the location of TON, we have made a direct comparison with the other two public chains Ethereum (ETH) and Solana (SOL). As can be seen from the figure, TON is crushing the other two in terms of block processing time and difficulty performance. While ETH is still thinking about layer 2 and expansion solutions, TON has already been waiting for the arrival of Ethereum at the end.
What is the relationship between TON coin and Telegram?
Although Taiwanese people are not as familiar with Telegram as Line and other communication software, its monthly active users have exceeded 550 million. If ranked by application downloads, Telegram is one of the top ten most popular social platforms in the world.
Telegram was the original promoter of TON coin. In 2018, Telegram decided to issue its own token, Gram, and develop a blockchain network to support the token, "Telegram Open Network (TON)". Telegram launched two rounds of private placements at the time, raising $1.7 billion in funds, which subsequently triggered a buying frenzy!
However, it was precisely because of the enthusiastic response from the public that it attracted the attention of regulators. In October 2019, the U.S. Securities and Exchange Commission (SEC) believed that private placements were securities issuances and therefore had to abide by the SEC's rules of the game. After the SEC filed a lawsuit, after several months of struggle, Telegram also abandoned the project on the grounds of avoiding the uncertainty brought about by regulation.
In 2021, community members decided to take over the project and established the TON Foundation to continue its development, allowing users to transfer cryptocurrencies directly through Telegram.
Why has TON become more discussed recently? TON's recent rise may be partly related to the good news released by itself and Telegram in the past two months, which can be roughly summarized as follows:
Telegram launched the corporate account feature in mid-March and revealed that it was considering an IPO in the United States, which triggered positive market expectations for TON.
Telegram CEO Pavel Durov told the Financial Times that the company has generated "hundreds of millions of dollars in revenue" since launching advertising and paid subscription services two years ago, bringing TG infinitely close to profitability. In addition, Telegram has received a valuation of more than $30 billion from major potential investors, and the number of monthly active users has grown from 500 million at the beginning of 2021 to 900 million today, becoming "one of the most popular social applications in the world."
At the end of February, Durov announced that he would cooperate with TON on advertising revenue payment, planning to pay 50% of Telegram's advertising revenue to channel owners in TON tokens, demonstrating Telegram's strong support for TON.
TON contract trading was listed on a top exchange in early March, and may be listed for spot trading in the future.
21Shares, the asset management giant that jointly launched the Bitcoin spot ETF with Ark Fund, announced on the 27th of last month that it had launched the Toncoin-collateralized exchange-traded product (ETP) – TONN on the SIX Swiss Exchange to track the performance of Toncoin (TON).
TON Society, a community of TON ecosystem developers, has launched a digital identity reward program, distributing a total of 1 million TON tokens (approximately US$7.3 million) as rewards.
Judging from the current situation, the number of new users and funds on the TON chain is growing rapidly, and some assets on the TON chain are also rising quietly. There is a certain probability that it will take off in April. Brothers who are pursuing quick wealth and have patience can seize this opportunity. I will continue to observe the situation of the TON chain and will also send out some of the targets I am optimistic about for fans to refer to.
