Research Summary
The report discusses the growth of The Open Network (TON), a blockchain project initially launched by Telegram. It highlights the rise of TON’s token in the crypto market, the development of mini-apps within Telegram, and the popularity of TON’s mini-apps. The report also mentions the upcoming token airdrop of Blast, a layer 2 protocol, and provides insights into the DeFi and NFT sectors.
Key Takeaways
TON’s Growth in the Crypto Market
- TON’s Market Position: TON’s token has broken into the top 10 largest crypto market caps and top 20 in terms of Total Value Locked (TVL). The TVL of TON has grown 85% in the last 30 days and nearly 35% in the last week alone.
Development of Mini-Apps within Telegram
- Mini-Apps Construction: The TON community has developed easy tooling for the construction of mini-apps within Telegram. These apps allow Telegram’s millions of users to manage finances, trade, and participate in DeFi directly from the Telegram app.
Popularity of TON’s Mini-Apps
- Notcoin and Hamster Kombat: Notcoin, a tap-to-earn game, has amassed 1.7M followers and is ranked #60 on Coingecko with a $1.9B market cap. Another game, Hamster Kombat, claims to have over 100M users.
Blast’s Upcoming Token Airdrop
- Blast’s Token Airdrop: Blast, a layer 2 protocol, has an upcoming token airdrop scheduled for June 26th. The protocol hit $2.3B in TVL before pulling back to $2.1B.
Insights into the DeFi and NFT Sectors
- DeFi and NFT Trends: The report provides insights into the DeFi sector, highlighting the growth of several protocols such as Thruster DEX and Pac Finance Lending. It also mentions Mintify, an NFT orderbook with over 130,000 users, offering deep analytics and trading tournaments.
Actionable Insights
- Monitor TON’s Growth: Given TON’s rapid growth in the crypto market, it may be beneficial to keep a close eye on its performance and developments.
- Explore TON’s Mini-Apps: The development and popularity of mini-apps within Telegram present potential opportunities. Exploring these apps could provide insights into user behavior and preferences in the crypto space.
- Stay Informed about Blast’s Airdrop: The upcoming token airdrop by Blast could have significant implications for the protocol’s performance. Staying updated on this event could be beneficial.
- Research DeFi and NFT Trends: The report highlights several trends and key players in the DeFi and NFT sectors. Further research into these areas could provide valuable insights.
