April 21, 2024

Telegram's TON blockchain capitalization will grow to $ 20 billion

Telegram's TON blockchain capitalization will grow to $ 20 billion

According to a new study from New York-based cryptocurrency fund Decentral Park Capital, the value ofTelegram's Open Network (TON) blockchain platform could exceed $ 20 billion over 5 years.

In a 59-page document called“The current state of the Telegram Open Network is the awakening of a sleeping giant,” says Gram (GRM), TON's native cryptocurrency, could become one of the top 10 digital assets in the next five years.

Research indicates high TON potential,emphasizing that the platform could become a “bank for people outside the banking system,” as well as the first platform for Web 3.0 applications, “akin to the App Store for Web 2.0.”

However, the report notes that TON is stilla number of internal and external problems have to be solved in order to implement their promising technologies. Decentral Park identified three of TON's main problems: a lack of openness for developers, a hostile attitude towards Telegram from a number of countries, as well as an alleged lack of demand and pressure from sellers.

According to research, TON is less open todevelopers than its competitors. Some countries may also restrict the adoption of the Gram. Finally, low interest from cryptocurrency investors and possible delays in launching can lead to pressure from sellers in the short and medium term,

Also on October 10, American cryptocurrency company Coinbase announced that its custodial service Coinbase Custody will support Gram storage.

In an official blog post, the companyreported that Coinbase Custody will support the safe storage of three announced tokens - GRM, Sola (SOL) and OXT (OXT) - each time the corresponding network is launched. The announcement said that "as more networks launch tokens, institutional investors face a serious challenge in finding ways to securely store each new unique asset."