Ben Zhou, the CEO of a leading cryptocurrency exchange by trading volume, recently conveyed his perspectives on the future of TON Coin. His dialogue with Colin shed light on various aspects of the cryptocurrency sphere, focusing on TON Coin’s trajectory. Zhou’s insights into the potential and expectations for TON Coin could provide valuable guidance for stakeholders in the cryptocurrency realm.
Why Invest in TON Coin?
Zhou emphasized Bybit’s involvement in the recent fundraising round for TON Coin, citing the robust user base as a significant factor. He praised the effective use of Telegram’s support through innovative airdrop methods in mini-apps, which has generated considerable interest. Zhou confirmed that exchanges are keen on the TON Coin ecosystem primarily to expand their user bases.
Is the Airdrop Model Sustainable?
Zhou suggested that while the airdrop model has been successful, there is a risk of saturation as more projects replicate this strategy. He warned that the same group of users might circulate among different projects, leading to diminishing returns. As new tokens attempt to tap into markets in Eastern Europe, Africa, South Asia, and Europe, the model’s effectiveness might wane, impacting the TON Coin ecosystem’s growth.
Key points from Zhou’s analysis include:
- Bybit’s strategic investment in TON Coin underscores confidence in its user base.
- The airdrop model, while effective, faces potential overuse and market saturation.
- Rapid user acquisition from diverse regions is essential for sustained growth.
- Legal developments in Europe and the U.S. could influence TON Coin’s valuation.
Zhou noted that the recent upward trend in TON Coin was catalyzed by a favorable court ruling, allowing Durov to be tried without detention. With Telegram’s readiness to comply with EU regulations, legal pressures may reduce, potentially boosting TON Coin’s value. Market watchers expect the upcoming HMSTR Token listing to further impact the ecosystem, with critical price points being $5.89 and targets of $8.28 and $10 on the horizon.