TON Could Outperform Bitcoin as It Distances Itself from Telegram
Leading crypto exchange Bitget, TON's principal investor, recently shared a research report on Toncoin. Bitget's report suggests that TON may need to disassociate itself from Telegram to reduce the regulatory risks linked to the messaging platform.
While TON relies greatly on Telegram's large community, Bitget believes the network will gradually grow more independently, building a larger ecosystem of users.
The exchange also predicted that Toncoin will likely outperform Bitcoin as the TON network attracts more institutional support in the coming years.
Bitget Foresees De-Telegramization" for TONIn a recent report, Bitget predicts TON will eventually move away from its heavy reliance on Telegram. This move, called de-Telegramization," is expected to help the TON ecosystem reduce regulatory risks linked to Telegram.
Even though Telegram plays a notable role in TON, Bitget suggests that TON will soon slowly transition to operating more independently. According to Bitget, the long-term development of the ecosystem could drive this separation.
In the long run, as the ecosystem develops and infrastructure improves, there will likely be a trend towards de-Telegramization" to mitigate regulatory risks associated with Telegram," says the report.
Also, Bitget noted that regulatory scrutiny over Telegram has grown, influencing this predicted change.
Despite this forecast, Bitget believes TON will continue leveraging Telegram's vast user base. However, a shift towards self-sustainability may occur within the next two years. The exchange emphasizes that managing regulatory risks will be crucial for TON's future growth.
Toncoin Expected to Outperform Bitcoin If It Moves Away From TelegramBitget also shared optimistic projections for Toncoin, TON's native cryptocurrency. The report suggests Toncoin could outperform Bitcoin's returns in a bullish market.
Bitget based this prediction on the recent growth and adoption within the TON ecosystem, particularly through popular Telegram Mini Apps.
In 2024, TON projects saw a surge in activity, with the Total Value Locked (TVL) across its network reaching over $776 million. This figure marks a significant 5,300% increase, though the TVL dropped 50% later.
However, the TVL has started to recover, hitting $420 million in September, according to DefiLlama.
Despite the challenges, Toncoin still performed well, delivering over 140% returns since the start of the year. Compared to Bitcoin, which has also seen strong growth (50.40%), Toncoin appears to be slightly ahead.
In addition, in the past six months, TON has outperformed BTC, up 12.56%, while BTC is down 8.38%.
Bitget believes this trend could continue, especially with the growing institutional interest in TON. As such, the exchange predicts more institutional players will start acquiring Toncoin,likely through over-the-counter (OTC) transactions.
The increasing institutional support is expected to boost TON's adoption and further drive its growth.
Bitget's Strategic Investment in TONBitget recently invested $30 million into theTON blockchain to back its optimistic outlook on TON. This strategic investment, announced in September, signals the exchange's commitment to the future of the TON ecosystem.
Further, Bitget plans to use this financial support to contribute to the network's development and governance. The exchange is confident its investment will help strengthen TON's future development.
Besides the recent investment, Bitget has been supporting TON's growth. Its cryptocurrency wallet, Bitget Wallet integrated with the TON mainnet in November 2023. The exchange attributes its platform's growth to the rising demand for new projects, particularly those hosted on TON.
Meanwhile, over the past 24 hours, TON has remained relatively stable. TON is trading at just over $5.50 with a volume of $193.59 million. Despite the prevailing challenges, Bitget remains optimistic that TON will continue to thrive and grow, backed by its strong community base.
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