Novaque Research
Analyzing TON: Telegram's Role in Web3 Infrastructure and Market Dynamics
A segment of payment functions now resides in a multi-faceted communication application. In the Asia market, WeChat leads this space, while in Asian markets, Telegram's adoption is lower, as seen in the map views of user adoption for WeChat and Telegram. Telegram's announcement to make TON its primary Web3 infrastructure enhances long-term competition. However, short-term opportunities depend on Telegram maintaining its dominance as a multi-faceted Web3 communication platform. The tokenomics of the TON environment link Telegram's active user base directly to active wallet addresses for TON services and payment functionalities. Steady adoption of Telegram in under-banked and unbanked regions, such as Africa, could drive the price. Currently, with a supply of 5 billion coins and an inflation rate of 2 percent, leading to an estimated 10 billion coins in 35 years (as per the whitepaper), steady price increases are likely in the long run. Price analysis over one year and a 90-day percentage return indicates steady growth in TON adoption, with increasing activity and demand for the TON coin. This trend is primarily driven by Telegram's limited features. Therefore, continued upside in the token is expected. Final Thoughts: The TON coin is comparable to Chainlink. While Chainlink serves as a bridge for chains, TON aims to be the bridge for multi-faceted modern communication channels.