Is there a TON of opportunity in Toncoin

Everyone is always looking for the next altcoin gem, could this be TON? Whilst it has catapulted its way into becoming a top 10 cryptocurrency, it is yet to be listed on the largest crypto exchange in Binance. Will a Binance listing price push it further up the ranks?

What is TON?

TON (The Open Network) is a blockchain that allows for the creation of smart contracts and scalable cross-chain interoperability via a Proof of Stake consensus mechanism.

It was originally called Telegram Open Network, but the project and Telegram parted ways in 2020 due to legal issues with the SEC. It has since been taken over by the TON Foundation.

Toncoin is the native token of TON and can be used for network operations and other transactions for applications built on TON.

How does it differ from other Cryptocurrencies?

Toncoin distinguishes itself from established giants like Bitcoin and Ethereum in the dynamic world of crypto development. Though all three share the core concept of digital currency, Toncoin offers unique features that are reshaping the cryptocurrency development space. Instead of enduring long transaction times, Toncoin provides near-instantaneous speeds and can handle millions of transactions per second. It emphasises security and scalability through its decentralised network and energy-efficient consensus mechanism, effectively addressing the scalability and security challenges faced by traditional cryptocurrencies.

Additionally, Toncoin extends beyond payments, supporting a diverse ecosystem that encompasses DeFi, gaming, and more. Its continuously evolving technology ensures future-proof relevance, and its user-friendly wallets enhance accessibility for everyone. The unique use cases and applications of Toncoin distinguish it from other cryptocurrencies, potentially catering to various industries and niche markets.

Binance Listing Effect:

If you were to ask someone to name a crypto exchange, the majority of individuals would name Binance. A Binance listing is the dream of all crypto projects due to the sheer volume and popularity it would bring to the project. It is clearly the number one crypto exchange as it has 5x more daily trading volume then Bybit who are the second largest exchange. New coins that are listed on the platform experience something known as the ‘Binance Effect’. The impact that this has had on newly listed tokens has been researched by X user ‘Ren & Heinrich’.

The above chart shows that majority of newly listed coins on Binance experience a significant price increase. (Rein & Heinrich via X)

Their research unveiled that newly listed tokens saw a 41% increase in market volume a day after listing on Binance. It was found that the average maximum price increase of the researched tokens was 73% higher than the day of listing.

One can only assume that TON will receive a Binance listing, after all it is a top 10 coin. If TON is to experience a similar price increase if it lists on Binance, then a 73% increase would see the price reach approximately $13 USD (from $7.21 at the time of writing). This would result in TON’s market cap increasing to $31,592,169,518. Thus meaning TON would flip DOGE and XRP and become the 8th largest cryptocurrency by market cap.

Whilst we strongly advocate for Bitcoin and believe that there is no better asset allocate towards, those who are willing to venture further out of the risk curve, TON may be a viable candidate for doing so.

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