Binance Lists 5 TON Token , Surprising the Market Colin Wu and WuliGy discussed the TON ecosystem and how it interacts with exchanges like Binance.
New markets and new users from this social networking app can bring many benefits to exchanges.
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Binance Aims for New Market on Telegram
In an episode of the Wu Blockchain podcast, Colin Wu sat down with WuliGy to discuss a question: Why is Binance listing so many TON Token ? Binance has faced mixed reviews for listing three new meme coins at once . So choosing the TON ecosystem now raises questions about what Binance’s long-term goals are? The two believe that Binance listed these five TON Token to take advantage of the opportunity to access new regions. Notcoin sparked a new wave of TON investment when Binance added it in May 2024, kicking off a wave of mini apps.
For exchanges like Binance, the goal is “to attract new users.” Telegram has nearly 1 billion active users, and even a small percentage of them can mean large daily volume . Furthermore, new markets for users are also attractive to Binance.
“The ecosystems behind these Token have great potential, especially in regions like CIS, South Asia and regions with less credit card penetration. As they gradually adopt Web3 and crypto payments, the growth potential is huge,”
WuliGy said.
Telegram User Growth. Source: BacklinkoTelegram is particularly appealing given its high level of adoption outside the West. Channels on Telegram servers have tens of thousands of members, and there are deep connections between language groups. For example, Russian-speaking development teams from different TON projects are often “supported by affiliated groups,” WuliGy said. Even though the different projects are technically separate, these developers are often close colleagues.
Daily users for attractive volume
The two men drew numerous comparisons between TON and other projects to help clarify its strengths and weaknesses. For example, they compared it favorably to GameFi, which has reached its peak in popularity. Both models involve earning Token by playing games and other tasks, but TON’s rewards are unpredictable. This attracts more users in hopes of hitting it big, and Telegram has a growing number of new users.
TON ecosystem coins are also more attractive than meme coins, from Binance's perspective. WuliGy said that “from a user perspective, both TON ecosystem projects and meme coins attract users who are chasing high returns.”
A meme coin user, however, can buy the asset and forget about it, casually dispose of it and only sell it at a heavy loss. The appeal of TON Token lies in daily tasks, a system of continuous engagement that WuliGy calls “stronger stickiness.”
Hopefully this stickiness translates into short-term volume , and that’s the main attraction for Binance. Underperforming listings are forgotten, but a long-term user will have to process TON Token Sale through an exchange. This inflates the daily volume figures and makes an exchange look bigger.
WuliGy says these projects are so cheap that Venture Capital money is only useful at the early stages, and Colin agrees. Colin claims that Telegram is the social media giant with the most crypto integrations, and it has developed its own model. These Telegram mini apps represent the first and second wave of Telegram-based Cryptoasset listings. There are likely more to come.
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