In a recent x.com/wacy_time1/status/1795009068349731298″ target=”_blank” rel=”nofollow”>mail On Despite its position as the ninth-largest cryptocurrency by market capitalization, Wacy remains optimistic about the potential of Toncoin (TON), a third-generation blockchain.
“Peak season is approaching as ethereum shines. Now is the time to choose the biggest bets on him with great conviction. The L1s are about to explode and here's my under-the-radar pick! Wacy declared. He highlighted the importance of Layer 1 (L1) and Layer 2 (L2) blockchains as critical elements for mass adoption of cryptocurrencies, due to their role in supporting various projects and infrastructure. “Looking at various projects, you realize that L1 is the clearest and simplest thesis for retail,” she added.
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TON, originally developed by the Telegram team and later transitioned to a community of independent developers, is recognized for its high performance and scalability. One of its notable features is its deep integration with the Telegram messaging application, which has more than 900 million monthly active users. This integration is considered a crucial lever for the widespread adoption of cryptocurrencies.
In terms of recent achievements, the TON ecosystem has shown remarkable growth. The total value locked (TVL) of the blockchain has increased fifteen-fold in the last three months and the price of TON has tripled. This increase is accompanied by an avalanche of positive news and new listings.
One notable project within the TON ecosystem is Notcoin (NOT), a Web3 gaming project that has quickly gained traction. Since its launch earlier this year, Notcoin has attracted a wide user base, reaching 35 million players participating in the game to mine tokens.
These tokens were recently converted into NO coins and listed on exchanges. “On May 16, the day of listing, approximately 13 million unique Notcoin users received NO, making it the largest meme token by number of holders,” Wacy noted. Surprisingly, NOT is outperforming all other memecoins like DOGE (4.8 million holders), SHIB (1.4 million holders), BONK (720,000 holders), and PEPE (220,000 holders).
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To further bolster TON's appeal, the blockchain recently introduced native USDT (Tether) support, providing an accessible platform for Telegram's huge user base to engage in peer-to-peer payments. This development aligns with TON's strategy to facilitate the seamless integration of Web3 services into everyday activities.
Wacy also shed light on the Open League, a long-term incentive program designed to encourage competition and collaboration between TON projects. The program, now in its third season, distributes millions of Toncoin to participants, driving ecosystem participation.
Additionally, the STON.fi decentralized exchange (DEX) on TON has become a leader in terms of ease of use and integration. Their USDT/TON fund recently surpassed $100 million in TVL, just four weeks after USDT launched on the network. “The TON/USDt fund is currently powered with a 105% APY, attracting significant investments,” Wacy noted, mentioning a 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 formidable player in the blockchain space. Alex Wacy's endorsement underscores TON's potential to lead the market thanks to an altcoin season sparked by ethereum's recent surge.
At press time, TON was trading at $6.33.
Featured image created with DALL·E, chart from TradingView.com
