Toncoin has surged this year, closely tied to Telegram, which is nearing one billion monthly active users. On January 1, Toncoin was the 15th-largest cryptocurrency at $2.33 with an $8 billion market cap; it’s now ninth with a $17 billion valuation.
Telegram began its Layer 1 chain project in 2017, but legal issues in 2020 halted its progress. A decentralized team revived it, leading to significant growth. Last September, TON’s wallet integrated into Telegram, allowing direct crypto payments.
Telegram’s Mini Apps enable seamless transactions, making it akin to China’s WeChat. Pavel Durov, Telegram’s founder, reports 950 million monthly users and aims for one billion, with plans to introduce a mini app store and Web3 support.
High-profile integrations and viral apps like Hamster Kombat, with 250 million sign-ups, are driving TON adoption. However, growing concerns about Telegram as a “dark web” could prompt regulatory scrutiny.
Toncoin’s rise highlights its potential to mainstream blockchain, positioning Telegram as a pivotal player in Web3’s future.
