TON Blockchain Expansion in the US: New Steps and Goals
Date: 2025-01-15 Author: Gabriel Deangelo Categories: BLOCKCHAIN
The TON project faced problems in the US when Telegram announced the launch of the blockchain in 2018. However, the US Securities and Exchange Commission (SEC) filed a lawsuit, and in 2019, the project was blocked by a court decision. In 2020, Pavel Durov officially confirmed that TON will not be launched due to this decision. However, developers unrelated to Telegram launched Free TON, which was essentially the same blockchain platform, but without Durov's participation. In 2023, the TON Foundation was founded in Switzerland, which took over the development of the network.
Today, hundreds of applications operate in the TON ecosystem, including crypto wallets, trading platforms, games, and services for developers. In 2024, the network grew from 4 million users to 130 million, thanks to the integration with Telegram, which significantly increased the flow of new users through projects like Notcoin and Hamster Kombat.
Toncoin, the main coin of the blockchain, is the 13th largest cryptocurrency with a market cap of $13.6 billion. In June 2024, Toncoin was valued at $8.25, but is currently trading at $5.38.
Manuel Stotz, who is one of the founders of the TON Foundation, is also the founder of the investment company Kingsway Capital. It manages assets worth billions of dollars, investing in more than 50 blockchain projects, including Blockchain.com and Animoca Brands. His experience and connections with global investors, according to the company, will help effectively promote TON in the United States.
Former TON Foundation President Steve Yun will continue to serve on the organization's board, and the developers are confident that significant achievements in TON's expansion in the US market are expected in the coming months.
A study by the Bitget crypto exchange, published in September 2024, predicts an important trend for the network - "de-telegramization". This process, according to analysts, will help reduce regulatory risks associated with the Telegram messenger. The decrease in the total value locked (TVL) in the ecosystem after Durov's arrest in August 2024 also affected the Toncoin rate, which fell by 15% in two weeks, but recovered only in late November.
The developers are confident that TON's expansion in the US will be a key factor in the further growth of the blockchain and its successful integration at the international level.
