The post This is Why TON Coin is Set to Reach $50 by the End of 2024 appeared first on Coinpedia Fintech News
The TON blockchain is on a continuous rise and so is its token price. This blockchain started to get its fame with the rise of tap-to-earn games like Notcoin and Hamster Kombat. These two crypto-backed games significantly boosted Telegram’s popularity. This gave a great boost to the TON price. But is there more to this trend? Let’s explore.
Telegram Open Network Integration
These Telegram-based apps use the Telegram Open Network. Consequently, the usage of its blockchain has surged. Data from Artemis shows that the TON blockchain’s daily transaction rate far exceeds Ethereum’s and continues to rise. On July 17, TON recorded 4.9 million transactions, while Ethereum had only 1.2 million. Additionally, TON’s daily active address count has left Ethereum far behind. Even compared to Ethereum’s Layer 2 solutions like Arbitrum, Base, and Optimism, Telegram Open Network leads in daily transactions.
TON’s Price Surge
The rising popularity of TON-based games justifies its price rise. Comparing it with Bitcoin’s price movement, it emerges as the winner. On March 14, Bitcoin hit a new ATH but then dumped almost 27%, losing $20,000. In contrast, from March 14 to April 11, TON rose by 102%. Currently, TON trades near its ATH at $7.28. With healthy corrections, TON’s price continues to climb. Since February 24, TON is up 310%, while Bitcoin is only up 22%.
Despite the price difference, TON’s continuous upward curve contrasts with Bitcoin’s downward trend. If TON maintains its current pace, it could easily reach $35-$40 by year-end. If new features are introduced and more apps like Hamster Kombat and NotCoin gain fame, its price could potentially reach $50.
Telegram’s Growth as an Everything App
TON has surpassed Bitcoin in daily transactions and is giving tough competition in daily active addresses.
The developments on Telegram suggest that the social media app is on its way to becoming an EVERYTHING app. Telegram already offers messaging, calling, video streaming, groups, and supergroups. Now, with the introduction of mini apps, Telegram is gaining significant fame. Its nearly 1 billion user base fully supports its growth. The introduction of crypto based games will help its blockchain to get more engaged and token’s price to skyrocket.