Bitget, a prominent crypto exchange and investor in The Open Network (TON) Foundation, has released a research report making bold predictions about the future of the TON ecosystem.
Bitget, a prominent crypto exchange and investor in The Open Network (TON) Foundation, has released a research report making bold predictions about the future of the TON ecosystem.
The report suggests that the TON blockchain may need to move towards a “de-Telegramization” approach to reduce regulatory risks associated with the messaging platform Telegram.
As Telegram faces increasing scrutiny, Bitget anticipates that TON will continue to leverage its user base in the short term but will gradually shift away from its association with Telegram over the next two years. This transition could help mitigate potential regulatory challenges.
In terms of market performance, Bitget forecasts that Toncoin, the native crypto of the TON blockchain, is likely to outperform Bitcoin's spot returns in a bullish scenario.
The report highlights that Toncoin has already shown significant resilience, posting a 140% increase since the beginning of 2024, even amid volatility due to events such as the arrest of Telegram CEO Pavel Durov.
The TON ecosystem has experienced substantial growth, particularly with the adoption of Telegram Mini Apps, resulting in a peak total value locked (TVL) of $776.6 million in July 2024.
However, this figure saw a decline of 50% later that year, with recent data by DefiLlama, indicating a recovery to $420 million as of September 24.
Bitget's recent $30 million investment in the TON blockchain underscores its commitment to the ecosystem's growth. The company aims to deepen its involvement in governance and development plans for TON.
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