TON Coin Set to Hit $50 by the End of 2024 – Here’s Why
The TON blockchain is on a meteoric rise, with its token price following suit. Initially gaining traction through the explosive popularity of tap-to-earn games like Notcoin and Hamster Kombat, the blockchain has become closely associated with Telegram. These crypto-backed games have not only boosted Telegram’s user base but have also ignited a keen interest in TON. But is this just the beginning?
As TON continues to outshine its competitors, questions arise about the sustainability of this growth.
Here’s a deep dive.
Telegram’s Blockchain Powerhouse
These Telegram-based apps leverage the Telegram Open Network (TON), leading to a surge in blockchain usage. According to Artemis data, the TON blockchain’s daily transaction rate has far surpassed Ethereum’s and continues to rise. On July 17, TON recorded an impressive 4.9 million transactions, compared to Ethereum’s 1.2 million. Additionally, TON’s daily active address count has left Ethereum far behind. Even when compared to Ethereum’s Layer 2 solutions like Arbitrum, Base, and Optimism, the Telegram Open Network leads in daily transactions.
TON’s Price Surge
The rising popularity of TON-based games justifies the token’s price surge. When compared with Bitcoin’s price movements, TON emerges as the clear winner. On March 14, Bitcoin reached a new all-time high but then plummeted almost 27%, losing $20,000. In contrast, from March 14 to April 11, TON soared by 102%. Currently, TON trades near its all-time high at $7.28.
Despite healthy corrections, TON’s price continues to climb. Since February 24, TON has increased by 310%, while Bitcoin has only risen by 22%.
Despite the price difference, TON’s consistent upward trajectory contrasts with Bitcoin’s more volatile trend. If TON maintains its current pace, it could easily reach $35-$40 by year-end. With the introduction of new features and the growing fame of apps like Hamster Kombat and Notcoin, its price could potentially hit $50.
Telegram: The Emerging EVERYTHING App
The developments on Telegram suggest that the social media app is evolving into an EVERYTHING app. Telegram already offers messaging, calling, video streaming, groups, and supergroups.
Now, with the introduction of mini-apps, Telegram is gaining significant fame. Its nearly 1 billion user base fully supports its growth. The introduction of crypto-based games is expected to further engage users and drive the token’s price even higher.
In conclusion, the TON blockchain’s rise is not just a fleeting trend but a testament to its robust ecosystem and the strategic developments within Telegram.
