jakiro
Author: Jack Inabinet, Bankless; Compilation: White Water, Bit Chain Vision Realm
Toncoin (TON) continued to rise this month, soaring by 50%compared with April, and refreshed the previous historical high, it became one of the top ten tokens of cryptocurrencies calculated based on market value!Which catalysts are promoting Ton to perform well?
The Open Network (TON) was originally founded by the popular message application Telegram in 2018 to be a competitor of Ethereum.Ton.Because the company raised $ 1.7 billion from private equity and argued that it was an unregistered securities.
Subsequently, a group of independent developers established Newton (now known as the TON Foundation), and obtained the control of the project domain and code storage in 2021, and then launched The Open Network and distributed TON later in the last year.
Although TON has been in the rise model in the cryptocurrency market since September. Due to the relatively stagnant performance of the token, the value of its relative BTC has fallen by 70%, butTon rushed up in March, and has risen more than 170% in the past five weeks.Intersection
Source: tradingView
Last September Telegram announced that they were developing crypto wallets on The Open NetworkLater, TON experienced a short -term strength, but it was not until last month that the market participants carefully digested the impact of this cooperative relationship.
On March 31, Telegram announced that it would allow users to use Toncoin to buy advertisements, Share 50%of the advertising revenue of monetization channels through TON distribution to creators.
In additionThe decentralized TON Foundation is also trying to promote the use of the chain itself.
Their open alliance activities started on April 1stIt will distribute 30 million TON to applications and users (calculated $ 204 million at the current price), and use an additional 1 million TON to motivate users to join Humancode (the leading identity of the chain).
The net impact of all these plans is not only very positive for prices but also on various chains;Compared with early March, the number of wallets on The Open Network has doubled, and TVL has increased 6 times!
Although compared with the more mature EVM chain and Solana, L1 leaders, the Ton’s chain application scenario is still in the initial stage, the market is very satisfied with the successful pricing of the TON chain.The world’s utility makes it more advantageous with assets from other cryptocurrency investment.
