Altcoins
As Ethereum Shines, Analyst Reveals One of the Top ‘Under-the-Radar’ Altcoins
In a recent job On Despite its position as the 9th largest cryptocurrency by market capitalization, Wacy remains optimistic about the potential of Toncoin (TON), a third-generation blockchain.
“Altseason is coming while Ethereum is shining. Now is the time to pick your biggest bets with high conviction. L1s are about to explode, and here is my under-the-radar pick!” Wacy said. He emphasized the importance of Layer 1 (L1) and Layer 2 (L2) blockchains as fundamental building blocks for mass crypto adoption, due to their role in supporting various projects and infrastructures. “As you look at different projects, you realize that L1 is the clearest and simplest thesis for retail,” he added.
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TON, originally developed by the Telegram team and later transferred to a community of independent developers, is recognized for its high performance and scalability. One of its notable features is its deep integration with the Telegram messaging app, which has over 900 million monthly active users. This integration is considered a crucial lever for widespread adoption of crypto.
In terms of recent achievements, the TON ecosystem has seen remarkable growth. The blockchain’s total value locked (TVL) has increased fifteen times in the last three months, and the price of TON has tripled. This surge is accompanied by a wave of positive developments and new registrations.
A 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 massive user base, reaching 35 million players who engage in the game to mine tokens.
These tokens were recently converted to NOT coins and listed on exchanges. “On May 16, the day of listing, approximately 13 million unique Notcoin users received PAS, making it the largest meme token in terms of number of holders,” Wacy pointed out. Remarkably, NOT outperforms all other memecoins like DOGE (4.8 million holders), SHIB (1.4 million holders), BONK (720,000 holders) and PEPE (220,000 holders).
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To further enhance TON’s appeal, the blockchain recently introduced native support for USDT (Tether), providing an accessible platform for Telegram’s large user base to make peer-to-peer payments . This development is part of TON’s strategy to facilitate the seamless integration of Web3 services into daily operations.
Wacy also highlighted the Open League, a long-term incentive program designed to foster competition and collaboration among TON projects. The program, now in its third season, distributes millions of Toncoins to participants, strengthening ecosystem engagement.
Additionally, the STON.fi decentralized exchange (DEX) on TON has become a leader in 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 boosted with 105% APY, attracting significant investments,” Wacy noted, mentioning a recent funding round led by CoinFund among other investors.
As the TON ecosystem continues to expand and evolve, it’s 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 underscores TON’s potential to lead the market in the wake of an altcoin season sparked by Ethereum’s recent surge.
At press time, TON was trading at $6.33.
Toncoin price consolidates below 0.618 Fib level, 1-day chart | Source: TONUSD on TradingView.com
Featured image created with DALL·E, chart by TradingView.com