In a recent post on Despite its position as the 9th largest cryptocurrency by market capitalization, Wacy remains optimistic about the potential of Toncoin (TON), a third-generation blockchain.
“Altseason is coming while Ethereum is shining. Now is the time to choose the biggest bet with high confidence. L1 is about to explode, and here are some of my lesser-known picks!” Washi declared. He emphasized the importance of Layer 1 (L1) and Layer 2 (L2) blockchains as fundamental elements for large-scale cryptocurrency adoption due to their role in supporting various projects and infrastructure. “When you look at various projects, you realize that L1 is the clearest and simplest proposition in retail,” he added.
Related Reading
Originally developed by the Telegram team and later transitioned to an independent developer community, TON is recognized for its high performance and scalability. One of its standout features is its tight integration with the Telegram messaging app, which has over 900 million monthly active users. This integration is seen as an important lever for widespread cryptocurrency adoption.
Looking at recent performance, the TON ecosystem has shown remarkable growth. The Total Value Locked (TVL) of the blockchain has increased 15 times in the past three months, and the price of TON has increased three times. This surge comes with a flurry of positive developments and new listings.
One notable project within the TON ecosystem is Notcoin (NOT), a Web3 gaming project that quickly gained attention. Launched earlier this year, Notcoin has amassed a wide user base, reaching 35 million players who join the game to mine tokens.
This token was recently converted to NOT coin and listed on the exchange. “On the day of listing, May 16, approximately 13 million unique Notcoin users received NOT, making it the largest meme token by number of holders,” Wacy emphasized. Surprisingly, NOT outperforms all other memecoins such as DOGE (4.8 million holders), SHIB (1.4 million holders), BONK (720,000 holders), and PEPE (220,000 holders).
Related Reading
Further strengthening TON’s appeal, the blockchain recently introduced native support for USDT (Tether), providing an accessible platform for Telegram’s large user base to engage in peer-to-peer payments. This development is consistent with TON’s strategy to seamlessly integrate Web3 services into daily activities.
Wacy also shed light on the Open League, a long-term incentive program designed to foster competition and collaboration between TON projects. Now in its third season, the program distributes millions of Toncoins to participants, strengthening participation in the ecosystem.
Additionally, TON’s STON.fi decentralized exchange (DEX) has emerged as a leader in terms of ease of use and integration. The USDT/TON pool recently surpassed $100 million in TVL, just four weeks after the launch of USDT on the network. “The TON/USDt pool is currently strengthening at 105% APY and is attracting significant investment,” Wacy said, referring to the recent funding round led by CoinFund among other investors.
As the TON ecosystem continues to expand and evolve, it is clear that its combination of technological innovation, strategic partnerships, and community engagement positions it as a powerful player in the blockchain space. Alex Wacy’s endorsement highlights TON’s market-leading potential against the backdrop of an altcoin season sparked by the recent rise of Ethereum.
At press time, TON was trading at $6.33.
Featured image created with DALL·E, TradingView.com chart
Source: NewsBTC.com