Altcoin
As Ethereum Shines, Analyst Reveals Top Altcoins “Under the Radar.”
In a recent send on Despite its position as the ninth largest cryptocurrency by market capitalization, Wacy remains optimistic about the potential of Toncoin (TON), a third-generation blockchain.
“Altseason is coming while Ethereum shines. Now is the time to choose your biggest bets with great conviction. L1s are about to explode, and here’s my hidden pick!” Wacy declared. He highlighted the importance of Layer 1 (L1) and Layer 2 (L2) blockchains as key elements for the mass adoption of cryptocurrencies, thanks to their role in supporting various projects and infrastructures. “Looking at the various projects, you realize that L1 is the clearest and simplest thesis for retail,” she added.
TON, originally developed by the Telegram team and later passed to a community of independent developers, is recognized for its high performance and scalability. One of its most impressive features is its deep integration with the Telegram messaging app, which boasts over 900 million monthly active users. This integration is seen as a crucial lever for widespread adoption of cryptocurrencies.
In terms of recent results, the TON ecosystem has shown remarkable growth. The Total Value Locked (TVL) of the blockchain has increased fifteenfold in the last three months and the price of TON has tripled. This wave is accompanied by a barrage of positive developments and new lists.
One notable project within the TON ecosystem is Notcoin (NOT), a Web3 gaming project that has quickly gained traction. Since its launch earlier this year, Notcoin has attracted a large user base, reaching 35 million players who interact with the game to mine tokens.
These tokens were recently converted into NOT coins and listed on exchanges. “On May 16, the day of the listing, approximately 13 million unique Notcoin users received NOT, making it the largest meme token by number of holders,” Wacy highlighted. Surprisingly, NOT is outperforming all other memecoins such as DOGE (4.8 million holders), SHIB (1.4 million holders), BONK (720,000 holders) e PEPPER (220,000 holders).
Further strengthening TON’s appeal, the blockchain recently introduced native support for USDT (Tether), providing an accessible platform for Telegram’s huge user base to engage in peer-to-peer payments. This development is in line with TON’s strategy to facilitate the seamless integration of Web3 services into daily operations.
Wacy also shed light on the Open League, a long-term incentive program designed to foster competition and collaboration between TON projects. The program, now in its third season, distributes millions of Toncoins to participants, increasing ecosystem engagement.
Additionally, the decentralized exchange STON.fi (DEX) on TON has emerged as a leader in terms of ease of use and integration. Its USDT/TON pool recently surpassed $100 million in TVL, just four weeks after USDT launched on the network. “The TON/USDt pool is currently powered at a 105% APY, attracting significant investment,” Wacy noted, citing a recent funding round led by CoinFund among other investors.
As the TON ecosystem continues to expand and evolve, it is clear that its combination of technological innovation, strategic partnerships and community engagement positions it as a formidable player in the blockchain space. Alex Wacy’s endorsement highlights TON’s potential to lead the market in the wake of an altcoin season sparked by Ethereum’s recent rise.
At the time of writing, TON was trading at $6.33.
Featured image created with DALL·E, chart from TradingView.com