Connect with us

Market

TON Foundation’s Plan to Onboard 500 Million Users

Published

on



TON is a hot topic right now as the ecosystem gains traction due to strategic partnerships with Telegram and Tether and the trending Tap-to-Earn narrative. 

BeInCrypto sat down with TON Ecosystem Lead Alena Shmalko to discuss the profound impact of these partnerships, the challenges of expanding a non-EVM compatible blockchain, and the strategic initiatives that catapulted TON into a major player in the space.

TON’s Key Projects and Partnerships

Alena begins by highlighting the explosive growth within TON’s ecosystem. “The ecosystem right now is experiencing a real boom,” she says, noting an impressive 2,000% increase in Total Value Locked (TVL) in recent months. This surge is largely attributed to the launch of The Open League, an initiative aimed at both TON users and builders, which has fostered massive growth and engagement.

One of the cornerstone partnerships bolstering this growth is with Telegram. Officially termed a strategic partnership, this collaboration integrates TON’s Web3 infrastructure into Telegram’s ecosystem. 

“We’re aligned on the growth and development of Web3 elements within the Telegram ecosystem,” Alena explains. “As a result, we’ve seen the introduction of a wallet created by an independent team, which is now being rolled out as a native feature inside the messenger across various regions. Additionally, other independent products are being developed within Telegram, such as the Telegram App Center, which aggregates all decentralized applications launched on TON in the form of mini apps as well as Web2 Telegram mini apps.”

Read more: 6 Best Toncoin (TON) Wallets in 2024

The launch of Tether’s USDT on TON, announced at TOKEN2049, is also set to play a large role in driving mass adoption. It facilitated numerous joint campaigns with centralized exchanges such as OKX, Bybit, and KuCoin and offered users various opportunities to earn rewards. Introducing the world’s largest stablecoin to TON’s ecosystem represented a major step toward establishing a more consistent and reliable financial environment, providing easier transactions and fostering greater trust in the platform.

Alena notes ongoing partnerships with prominent Web3 players such as Animoca Brands, Fireblocks, and HashKey Group. Such allies validate TON’s technological advancements, boost its credibility, and appeal to a broader audience.

Developer Support and Community Engagement

TON Foundation and TON Society focus on supporting developers and boosting community engagement. They regularly organize hackathons, workshops, webinars, and online courses to equip developers with the knowledge and skills to build on the TON blockchain. These programs are globally accessible, ensuring anyone can contribute with the right resources and support.

One of the major initiatives in TON’s ecosystem is The Open League, a long-term incentive program designed to reward builders and users. The initiative started in March with 18 projects participating in the beta season and has now grown to embrace around 40 TON applications, 57 tokens, and 22 NFT collections. The Foundation has already distributed more than $45 million in rewards, allocated $150 million in total, and plans to scale the program further.

Alena also highlights the potential of the gaming sector within the ecosystem, noting that Web3 gaming offers new opportunities for value exchange, true ownership, and financial benefits for gamers. Coupled with Telegram’s potential — its 900 million monthly active users — this positions TON as the blockchain of choice for mini game developers.

“Web3 gaming empowers gamers to do things that they can’t currently cannot do, offering a better form of value exchange, true ownership and attractive financial opportunities,” she explains. “People can now access fun, simple and viral games in their favourite messenger, without the need to set up a separate Web3 wallet and leave the interface”.

Read more: Tap-to-Earn: What to Know About the Crypto GameFi Trend

TON is also exploring other product areas such as SocialFi, e-commerce, onboarding and education tools, and DeFi. These sectors have significant potential to attract large numbers of people. Future developments may include RWA tokenization, supply chain management, decentralized identity (DID), decentralized physical infrastructure networks (DePIN), and AI. Blockchain will ultimately spread across all those, but the low-hanging fruit here are products that will easily become appealing to retail users and offer them some clear, direct value.

The Road to 500 Million Users

Looking ahead, Alena outlines the primary objectives of TON’s ecosystem. The long-term mission of bringing 500 million users on-chain by 2028 is central to these goals. To achieve this, the Foundation will continue implementing The Open League. “This initiative has already borne a lot of fruit, but we want to scale it to more teams and users,” she explains.

Improving user experience (UX) and onboarding processes will be a significant focus. TON Foundation commits to supporting developers in creating valuable and user-friendly decentralized applications.

However, Alena recognizes the challenges ahead. One primary hurdle is that TON is a non-EVM blockchain, so developers must learn new programming languages like Tact and Fun-C. To mitigate this, TON provides comprehensive documentation, technical support, and educational resources.

“We are constantly improving our documentation and offering support to help developers transition smoothly into our ecosystem,” Alena notes. “Given that they need to learn new languages, we provide very comprehensive documentation in multiple languages. Now we’re translating it to Mandarin because we have a very strong focus on Asia. Then Arabic as well. We have documentation for CIS regions, of course, and obviously for English speakers”.

Read more: How to Achieve EVM Compatibility in Non-EVM Blockchains

Moreover, scaling the infrastructure to support a growing user base presents technical challenges. Ensuring that the network remains secure, efficient, and capable of handling increased traffic and transactions is a continuous effort. Alena points out that the team is dedicated to overcoming these obstacles by building a collaborative environment where developers can share insights and innovations.

As the conversation concludes, Alena reiterates her belief in the future of a fully tokenized world. “The future will be tokenized 100%,” she states, drawing parallels to the digital revolution many doubted at the turn of the century. Strategic partnerships, initiatives like The Open League, and a strong focus on user experience position TON to lead this transformation.

Disclaimer

In compliance with the Trust Project guidelines, this opinion article presents the author’s perspective and may not necessarily reflect the views of BeInCrypto. BeInCrypto remains committed to transparent reporting and upholding the highest standards of journalism. Readers are advised to verify information independently and consult with a professional before making decisions based on this content.  Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Market

BNB Price Faces More Downside—Can Bulls Step In?

Published

on


Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.



Source link

Continue Reading

Market

VanEck Sets Stage for BNB ETF with Official Trust Filing

Published

on


Global investment management firm VanEck has officially registered a statutory trust in Delaware for Binance’s BNB (BNB) exchange-traded fund (ETF). 

This move marks the first attempt to launch a spot BNB ETF in the United States. It could potentially open new avenues for institutional and retail investors to gain exposure to the asset through a regulated investment vehicle.

VanEck Moves Forward with BNB ETF 

The trust was registered on March 31 under the name “VanEck BNB ETF” with filing number 10148820. It was recorded on Delaware’s official state website.

VanEck BNB ETF Filing
VanEck BNB ETF Filing. Source: State of Delaware Official Website

The proposed BNB ETF would track the price of BNB. It is the native cryptocurrency of the BNB Chain ecosystem, developed by the cryptocurrency exchange Binance.

As per the latest data, BNB ranks as the fifth-largest cryptocurrency by market capitalization at $87.1 billion. Despite its significant market position, both BNB’s price and the broader cryptocurrency market have faced some challenges recently.

Over the past month, the altcoin’s value has declined 2.2%. At the time of writing, BNB was trading at $598. This represented a 1.7% dip in the last 24 hours, according to data from BeInCrypto. 

BNB Price Performance
BNB Price Performance. Source: BeInCrypto

While the trust filing hasn’t yet led to a price uptick, the community remains optimistic about the prospects of BNB, especially with this new development.

“Send BNB to the moon now,” an analyst posted on X (formerly Twitter).

The filing comes just weeks after VanEck made a similar move for Avalanche (AVAX). On March 10, VanEck registered a trust for an AVAX-focused ETF. 

This was quickly followed by the filing of an S-1 registration statement with the US Securities and Exchange Commission (SEC). Given this precedent, a similar S-1 filing for a BNB ETF could follow soon.

“A big step toward bringing BNB to US institutional investors!” another analyst wrote.

Meanwhile, the industry has seen an influx of crypto fund applications at the SEC following the election of a pro-crypto administration. In fact, a recent survey revealed that 71% of ETF investors are bullish on crypto and plan to increase their allocations to cryptocurrency ETFs in the next 12 months. 

“Three-quarters of allocators expect to increase their investment in cryptocurrency-focused ETFs over the next 12 months, with demand highest in Asia (80%), and the US (76%), in contrast to Europe (59%),” the survey revealed.

This growing interest in crypto ETFs could drive further demand for assets like BNB, making the VanEck BNB ETF a potentially significant product in the market.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Market

XRP Recovery Stalls—Are Bears Still In Control?

Published

on


XRP price started a fresh decline from the $2.20 zone. The price is now consolidating and might face hurdles near the $2.120 level.

  • XRP price started a fresh decline after it failed to clear the $2.20 resistance zone.
  • The price is now trading below $2.150 and the 100-hourly Simple Moving Average.
  • There is a connecting bearish trend line forming with resistance at $2.120 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair might extend losses if it fails to clear the $2.20 resistance zone.

XRP Price Faces Rejection

XRP price failed to continue higher above the $2.20 resistance zone and reacted to the downside, like Bitcoin and Ethereum. The price declined below the $2.150 and $2.120 levels.

The bears were able to push the price below the 50% Fib retracement level of the recovery wave from the $2.023 swing low to the $2.199 high. There is also a connecting bearish trend line forming with resistance at $2.120 on the hourly chart of the XRP/USD pair.

The price is now trading below $2.150 and the 100-hourly Simple Moving Average. However, the bulls are now active near the $2.10 support level. They are protecting the 61.8% Fib retracement level of the recovery wave from the $2.023 swing low to the $2.199 high.

XRP Price

On the upside, the price might face resistance near the $2.120 level and the trend line zone. The first major resistance is near the $2.150 level. The next resistance is $2.20. A clear move above the $2.20 resistance might send the price toward the $2.240 resistance. Any more gains might send the price toward the $2.2650 resistance or even $2.2880 in the near term. The next major hurdle for the bulls might be $2.320.

Another Decline?

If XRP fails to clear the $2.150 resistance zone, it could start another decline. Initial support on the downside is near the $2.10 level. The next major support is near the $2.0650 level.

If there is a downside break and a close below the $2.0650 level, the price might continue to decline toward the $2.020 support. The next major support sits near the $2.00 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $2.10 and $2.050.

Major Resistance Levels – $2.120 and $2.20.



Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io