Ethereum
While Ethereum Shines, Analyst Reveals Top ‘Under the Radar’ Altcoin
In a recent job on Despite its position as the 9th largest cryptocurrency by market capitalization, Wacy remains optimistic about the potential of Toncoin (TON), a third-generation blockchain.
“Altseason arrives while Ethereum shines. Now is the time to choose your biggest bets with great conviction. The L1s are about to explode, and here is my under-the-radar pick! » Wacy said. He highlighted the importance of layer 1 (L1) and layer 2 (L2) blockchains as fundamental building blocks for mass crypto adoption, due to their role in supporting various projects and infrastructure. “Looking at different projects, we realize that L1 is the clearest and simplest thesis for retail,” he added.
TON, originally developed by the Telegram team and later transformed into a community of independent developers, is known for its high performance and scalability. One of its most notable features is its deep integration with the messaging app Telegram, which has over 900 million monthly active users. This integration is considered a crucial lever for widespread adoption of crypto.
In terms of recent achievements, the TON ecosystem has seen remarkable growth. The total value locked (TVL) of the blockchain has increased fifteen times over the last three months and the price of TON has tripled. This surge is accompanied by a wave of positive developments and new registrations.
A notable project within the TON ecosystem is Notcoin (NOT), a Web3 gaming project that has quickly gained traction. Since its launch earlier this year, Notcoin has attracted a large user base, reaching 35 million players who engage in the game to mine tokens.
These tokens were recently converted to NOT coins and listed on exchanges. “On May 16, the day of listing, approximately 13 million unique Notcoin users received PAS, making it the largest meme token in terms of number of holders,” Wacy pointed out. Remarkably, NOT outperforms all other memecoins like DOGE (4.8 million holders), SHIB (1.4 million holders), BONK (720,000 holders) and PEPE (220,000 holders).
Further enhancing TON’s appeal, the blockchain recently introduced native support for USDT (Tether), providing an accessible platform for Telegram’s huge user base to engage in peer-to-peer payments. -peer. This development aligns with TON’s strategy to facilitate the seamless integration of Web3 services into daily operations.
Wacy also highlighted the Open League, a long-term incentive program designed to foster competition and collaboration among TON projects. The program, now in its third season, distributes millions of Toncoins to participants, strengthening ecosystem engagement.
Additionally, the decentralized exchange STON.fi (DEX) on TON has established itself as a leader in terms of ease of use and integration. Its USDT/TON pool recently surpassed $100 million in TVL, just four weeks after USDT launched on the network. “The TON/USDt pool is currently strengthened with an APY of 105%, attracting significant investments,” 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 its combination of technological innovation, strategic partnerships and community engagement positions it as a formidable player in the blockchain space. Alex Wacy’s endorsement highlights TON’s potential to dominate the market following an altcoin season sparked by Ethereum’s recent rise.
At press time, TON was trading at $6.33.
Featured image created with DALL·E, chart from TradingView.com