Binance has recently listed multiple altcoins from the TON ecosystem, causing significant market fluctuations. This article will examine the reasons and consequences of this trend.
Binance and TON Coin
The Telegram-supported TON Coin has eliminated a significant issue for new projects in the cryptocurrency space. New protocols often require excessive advertising and marketing expenses to reach users. However, due to integration with Telegram, which has 950 million active users, TON Coin can rapidly scale its projects, offering ease of access through Telegram’s mini-app feature.
WuliGy's Assessment
Expert WuliGy explains the rapid listing of tokens from the TON ecosystem on Binance as follows: "I believe the TON ecosystem has gained significant momentum, especially after Notcoin. Supported by Telegram, TON has a large user base and Notcoin has truly set a trend for Telegram mini apps. Users flocked to the TON ecosystem driven by reward incentives. Major exchanges aim to attract new users, and TON’s Telegram-supported mini apps offer a vast user pool. For instance, we have numerous examples, from Notcoin to Dogs, and recently to Hamster and Catizen. Hamster has over 250 million users, and Catizen reached 10 million just months after its launch. This situation presents a fantastic opportunity for major exchanges like Binance to foster user growth. The ecosystems behind these tokens hold great potential, especially in regions like the CIS and South Asia, where credit card usage is less prevalent."
Altcoins in the TON Ecosystem
The total market value of TON Coin and its associated tokens stands at $15.4 billion, with a daily trading volume of $523 million. Although most of the market value comes from TON Coin, it represents only half of the trading volume. This indicates that despite relatively smaller market values, these altcoins are attracting significant interest from investors. The key takeaway from the above visual is the volume data. Exchanges tend to list assets that attract high volumes as this is a strategy for user acquisition. Although DOGS is still new to the market, it has emerged as the most notable asset in the ecosystem. Additionally, there are others like NOT. With new altcoins being listed, this volume could lead to rapid increases in market value figures.
The listing of altcoins from the TON ecosystem on Binance opens new prospects for the cryptocurrency market. These altcoins attract significant investor attention and represent opportunities for further exchange growth.
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