Will Toncoin (TON) Be the Next Ethereum (ETH)?

Toncoin's Rapid Growth: A Threat to Ethereum's Dominance?

The Toncoin price has been boosted by approximately 394% in the last 12 months. The main factor enhancing TON's success is Telegram and recently viral Tap-to-earn games like Hamster Kombat, Tapswap, and more. Moreover, now community members  are comparing the TON with Ethereum and experts are predicting that Ton could give tough competition to Ethereum in future

Toncoin Vs Ethereum 

TON's utility is nearly on par with Ethereum's, but it's anticipated to surpass Ethereum soon. Currently, TON sees fewer transactions, likely due to Ethereum's longer presence in the market. However, as TON continues to develop, its utility is expected to improve significantly.

Ethereum currently has a TVL of 61.394 Billion on the other hand TON holds a TVL of 768.62 Million. Here, Ethereum wins but TON has also shown exponential growth in the last few months in terms of TVL showcasing user confidence is boosted On TON in recent times.

Ethereum is the second most powerful and popular cryptocurrency in the market. There is no comparison of TON with ETH as Ethereum is the oldest and dominant player in the crypto space. However, the performance and adoption of TON is exponential which makes it a top emerging player who can give tough competition to Ethereum in the near future.

Toncoin Power of Tap 

The TON blockchain is using the power of simple taps and has converted it into a cult-like user base, creating a buzz worldwide. Tap-to-earn games like Hamster Kombat, Notcoin, and Tapswap have gathered a lot of attention and users in a span of a few months. These games offer engaging and straightforward gameplay, allowing users to earn rewards through simple actions, which has contributed to their rapid growth and widespread attention.

Moreover, Telegram's vast user base of over 700 million monthly active users presents a significant potential reach for Toncoin. Investors believe that Telegram's integration will boost interest in TON, driving up demand and its price. Additionally, Toncoin is gaining momentum as it achieves development milestones, with over 7,400 wallets now holding $TON according to Etherscan data.

In the future, the simple tap-to-earn mechanics could evolve and bring many more utilities to users like tap-to-view, and tap-to-make, which may enhance the TON Blockchain and elevate it to the list of top-tier blockchains.

Backstory Behind Toncoin

Toncoin Blockchain was originally founded in the year 2018 by Telegram. At the initiation phase, TON raised funding of approximately $1.7 Billion to build a blockchain that will be a direct competitor for Ethereum. However, Telegram abandoned the Toncoin project after the US SEC sued them, alleging that TON was a security. After this independent developers took over the project, rebranding it as Toncoin.