In recent post on Despite its position as the ninth-largest cryptocurrency by market capitalization, Wacy remains sanguine about the potential of Toncoin (TON), a third-generation blockchain.
“Altseason is coming and Ethereum will shine. It’s time to choose your biggest bets with great confidence. L1 are about to bloom and here is my pick that is under the radar!” Wacy stated. He highlighted the importance of Layer 1 (L1) and Layer 2 (L2) blockchains as core elements of mass adoption of cryptocurrencies, due to their role in supporting various projects and infrastructure. “As we look at different projects, we realize that L1 is the clearest and simplest thesis for retail,” he added.
Originally developed by the Telegram team and later released to the independent developer community, TON is recognized for its high performance and scalability. One of its standout features is deep integration with the Telegram messaging app, which boasts over 900 million monthly energetic users. This integration is seen as a key lever for widespread adoption of cryptocurrencies.
In terms of recent developments, the TON ecosystem has shown remarkable growth. Over the past three months, the blockchain’s Total Value Locked (TVL) value has increased fifteenfold and the TON price has tripled. This growth is accompanied by an avalanche of positive changes and fresh quotes.
A notable project in the TON ecosystem is Notcoin (NOT), a Web3 gaming project that has quickly gained popularity. Since its launch earlier this year, Notcoin has attracted a huge user base, reaching 35 million players who engage in the game to mine tokens.
These tokens were recently converted into NOT coins and listed on exchanges. “On May 16, the day of listing, approximately 13 million unique users of Notcoin received NIE, making it the largest meme token in terms of number of holders,” Wacy emphasized. Interestingly, NOT is ahead of all other memecoins such as DOGE (4.8 million holders), SHIB (1.4 million holders), BONK (720,000 holders), and PEPE (220,000 holders).
Further increasing TON’s appeal, the blockchain recently introduced native support for USDT (Tether), providing an accessible platform for Telegram’s massive user base to make peer-to-peer payments. This development is in line with TON’s strategy to facilitate the seamless integration of Web3 services into everyday operations.
Wacy also shed delicate on Open League, a long-term incentive program designed to foster competition and cooperation among TON projects. The program, now in its third season, distributes millions of Toncoins to participants, increasing ecosystem engagement.
Additionally, the STON.fi decentralized exchange (DEX) on TON has become a leader in ease of apply and integration. The USDT/TON pool recently surpassed $100 million on TVL, just four weeks after USDT launched on the network. “The TON/USD pool is currently at 105% APY, which is attracting significant investment,” Wacy noted, mentioning a recent funding round led by CoinFund among other investors.
As the TON ecosystem continues to grow and evolve, it is clear that the combination of technological innovation, strategic partnerships and community engagement positions it as a powerful player in the blockchain space. Alex Wacy’s endorsement highlights TON’s potential to assume market leadership following the altcoin season triggered by Ethereum’s recent price surge.
At the time of publication, TON was trading at $6.33.
Featured image created with DALL·E, chart from TradingView.com
