Binance recently surprised the market by listing five TON tokens. Colin Wu and WuliGy discussed the TON ecosystem and its interactions with exchanges like Binance.
The new market and new users of this popular social media app could provide a huge advantage to the exchange.
Binance Targets New Markets on Telegram
In an episode of the Wu Blockchain podcast, Colin Wu discussed one question with WuliGy: Why is Binance listing so many TON tokens?
These questions are especially important for the market as a whole, as Binance has experienced price volatility since listing the NEIRO meme coin . How will TON differentiate itself? What are Binance’s long-term goals?
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They claimed that Binance was looking to leverage its new regional reach by listing these five TON tokens. Notcoin, which was added to Binance in May 2024, sparked a new wave of TON investment, and ushered in a wave of mini-apps.
For exchanges like Binance, “acquiring new users” is the name of the game. Telegram has nearly a billion active users , and even a small number of them can mean significant daily trading volume. Binance is also attracted by new markets for users.
“The ecosystem behind these tokens has enormous potential, especially in the CIS, South Asia and regions with less credit card usage. As they increasingly embrace Web3 and cryptocurrency payments, the growth potential is enormous,” WuliGy said.
Telegram is particularly attractive because of its high acceptance outside the West. Telegram servers host channels with tens of thousands of members, and there is deep connectivity within language groups.
For example, Russian-speaking developer teams on various TON projects are often “supported by connected teams,” WuliGy said. Even on completely separate projects, these developers are often close colleagues.
Daily users for attractive trading volumes
The two compared TON with other projects, clarifying their strengths and weaknesses. For example, they compared it favorably with GameFi, which is already at the peak of its popularity.
Both models allow you to earn tokens through games and other tasks, but TON’s rewards are more unpredictable. This makes users more engaged in the hope of winning big. And Telegram continues to grow its pool of new users.
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TON coins are more attractive than meme coins from Binance’s perspective. “From a user perspective, both meme coins and TON ecosystem projects are appealing to users who are looking for high yields,” WuliGy said.
However, meme coin users can buy and forget about their assets, treat them indifferently and only sell them when they see a huge loss. The appeal of the TON token lies in its daily tasks, a system of continuous engagement that WuliGy calls “stronger stickiness.”
This stickiness will hopefully translate into short-term volume, which is the whole appeal of Binance. Listings that underperform will be forgotten, but long-term users will have to process TON token sales through the exchange. That will increase the daily volume figures and make the exchange look bigger.
WuliGy added that these projects are so cheap that VC funding is only useful in the early stages, and Colin agreed. Colin claimed that Telegram is the social media giant with the most cryptocurrency integrations and has developed its own model.
These mini-apps represented the first and second wave of Telegram-based crypto asset listings. More are likely to come.
