The Rise of Toncoin Holders: Telegram games Driving Adoption Surge
Investors and users of Toncoin (TON) are witnessing a significant milestone as the number of unique TON holders surpasses 100 million, making it the 11th largest Cryptocurrency by Market cap. This surge in holders can be attributed to the growing popularity of games hosted on the messaging app Telegram, which has become a hub for tap-to-earn games.
Telegram Games Fueling Toncoin Adoption
- Data shared by CryptoQuant reveals that the number of TON holders has grown exponentially from slightly over 4 million at the beginning of the year to 104 million currently.
- A key factor contributing to this Growth is the emergence of Telegram games, such as Notcoin, Hamster Kombat, Catizen, X Empire, and Yescoin, which allow users to earn tokens while playing.
- Telegram users can participate in these games through built-in mini apps and can earn tokens that run on The Open Network, the Blockchain behind TON.
Hamster Kombat Airdrop and Toncoin Milestone
The rise in TON holders coincided with the Hamster Kombat airdrop on September 26, where the tap-to-earn Game attracted over 300 million players. Approximately 129 million players received the HMSTR Token during the airdrop, further driving the adoption of Toncoin.
Although Telegram is independent from TON, the Cryptocurrency remains popular among Telegram users and creators. The platform has integrated TON to share ad revenue with channel owners and has introduced an off-Chain Currency known as Stars, which is connected to TON.
Origins and Growth of Toncoin
- Toncoin was initially developed internally at Telegram, but the project was discontinued in 2020 due to regulatory issues. Community developers took over the project and have since propelled its growth through TON games, tokens, and Telegram's own initiatives.
- Despite its success, TON has faced challenges, such as a Price decline in August following the arrest of Telegram CEO Pavel Durov in France. Durov was accused of non-cooperation with authorities regarding illegal activities on the platform.
Durov and Telegram have committed to collaborating more effectively with authorities and have implemented measures to restrict the dissemination of illicit content on the app.
Conclusion
The surge in Toncoin holders reflects the growing interest in cryptocurrencies driven by innovative applications like tap-to-earn games on Platforms such as Telegram. As the TON ecosystem continues to expand, its adoption is likely to increase, offering users new opportunities to engage with Digital assets.
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Edited by Andrew Hayward
