Binance recently surprised everyone by listing five TON tokens. Colin Wu and WuliGy discussed this on the Wu Blockchain podcast. They focused on the TON ecosystem and how it connects with exchanges like Binance.
So, why is Binance adding so many TON tokens? After listing the NEIRO meme coin, Binance faced some price ups and downs. This makes the topic especially relevant to the market. Wu and WuliGy wondered how TON plans to stand out and what Binance's long-term goals might be.
According to them, Binance aims to tap into new regional markets with these five TON tokens. When Binance added Notcoin in May 2024, it sparked a wave of investment in TON, leading to new mini apps.
For exchanges like Binance, attracting new users is vital. With nearly 1 billion active users on Telegram, even a small percentage could mean big trading volumes. Plus, new markets can drive Binance’s growth.
WuliGy highlighted the potential of these token ecosystems, especially in regions like the CIS and South Asia, where credit card use is lower. As these areas start to embrace Web3 and crypto payments, the growth opportunities are huge.
Telegram is particularly appealing because it has higher adoption rates outside the West. The platform hosts channels with thousands of members and fosters strong connections within language groups. WuliGy pointed out that Russian-speaking developer teams often collaborate closely, even if their projects are technically separate.
They also compared TON to other projects, like GameFi, to showcase their strengths and weaknesses. Both allow users to earn tokens through gaming and tasks, but TON has a more unpredictable reward system. This unpredictability encourages users to participate, hoping for big wins, especially with Telegram's growing user base.
From Binance's perspective, TON tokens are more attractive than meme coins. WuliGy noted that while both categories appeal to users chasing high returns, meme coin investors might buy an asset and forget about it, leading to losses. In contrast, the TON ecosystem promotes daily engagement through tasks, creating what WuliGy calls "stronger stickiness."
This stickiness can boost short-term trading volumes, which is key for Binance. While underperforming listings may fade away, dedicated users will continue to trade TON tokens through an exchange, enhancing daily trading volume and making the exchange appear larger.
WuliGy mentioned that these projects are so affordable that venture capital is mainly helpful in the early stages. Colin agreed, stating that Telegram is the social media platform with the highest level of crypto integration, having developed its unique model.
The introduction of mini apps has marked the first waves of crypto asset listings on Telegram. More listings are likely on the way.