Bitget predicts TON ecosystem will be “de-telegraphized” within two years amid regulatory pressure

In a recent research report, Bitget, a major investor in The Open Network (TON) Foundation, has made several bold predictions about the future of the TON ecosystem. The cryptocurrency exchange suggests that TON may gradually distance itself from Telegram due to increasing regulatory concerns surrounding the messaging platform.

This move, referred to as "de-Telegramization," would likely occur as the ecosystem matures and develops its own infrastructure, reducing its reliance on Telegram.

According to the report, while the TON blockchain is expected to continue leveraging Telegram’s vast user base in the near future, a shift away from this dependence could help mitigate the risks associated with Telegram’s ongoing regulatory challenges.

Toncoin’s potential to outperform Bitcoin in a bullish market

Bitget's predictions for the TON ecosystem also extend to the performance of its native cryptocurrency, Toncoin (TON). The report forecasts that Toncoin could outperform Bitcoin’s spot returns in a bullish market scenario, positioning TON as a potential standout performer in the cryptocurrency space.

Bitget anticipates that this growth will attract increased institutional support, with many institutions opting for over-the-counter (OTC) purchases of TON.

TON’s rapid growth and institutional interest

The TON ecosystem has experienced significant growth in 2024, driven largely by the adoption of Telegram Mini Apps such as Notcoin and Hamster Kombat. In July, the total value locked (TVL) in TON-related projects surged to $776.6 million, marking a staggering 5,300% increase.

However, the TVL saw a sharp 50% decline later in the year, partially attributed to the arrest of Telegram CEO Pavel Durov. Despite this setback, TON’s TVL has been recovering, reaching $420 million as of late September.

Toncoin has posted impressive returns of 140% since the beginning of 2024, outpacing Bitcoin’s 44% gain over the same period. Both cryptocurrencies have seen comparable returns over the past year, with Bitcoin up 140% and Toncoin rising by 148%.

Bitget’s strategic investment and future involvement in TON

Bitget's optimistic outlook on TON follows its $30 million investment in the blockchain, made in collaboration with Foresight Ventures. The exchange plans to increase its involvement in TON’s governance and development plans, further cementing its commitment to the ecosystem.

In addition to financial support, Bitget has been instrumental in driving TON’s growth since integrating the TON mainnet into its platform in November 2023. The exchange has linked its own expansion to the rising demand for new projects within the TON ecosystem.

Toncoin (TON) price chart since September 2023. Source: CoinGecko

Regulatory pressures and the future of TON

The report’s prediction of a potential "de-Telegramization" comes as Telegram faces increasing scrutiny from regulators. Telegram has recently introduced stricter policies, including sharing the IP addresses and phone numbers of users who violate its rules with authorities, following ongoing investigations into CEO Pavel Durov.

This evolving regulatory landscape has prompted TON to explore ways of reducing its dependence on Telegram, despite the strong synergies between the two platforms.