Toncoin (TON) has surged over 200% this year, becoming the fifth-most valuable Layer 1 network with a market cap of $14.371 billion. Initially developed by the Telegram team and launched in 2019, TON was transferred to independent developers in 2020 due to SEC regulations. The TON Chain has evolved into a rich ecosystem, fostering internet freedom and utility, with recent collaborations like Curve Finance highlighting its growth.
The ecosystem has seen a 12x increase in daily transaction volume over the past year, with TVL rising to $350 million, driven by DEX trading.This has made many exchanges like integrating the network into their ecosystem and encouraging lots of users to explore more of the network by way of giveaways.
I believe that TON could have done a lot more, we have seen notcoin do fine, and because of that success we have seen hamster kombat and now dogs, but those are it, we haven't seen anything more. When a chain gets this big, usually there is something else that follows it, a big hype, dozens of other projects that people talk about, and if that were to happen then we would have done well but we are talking about something that isn't getting that much return at all, it feels like it is not good looking at all.
This is why I think toncoin isn't doing fine, just three projects took it this far and that is a great thing but if three tokens made it so high, then even more could have done even better without a doubt, but they didn't do that.