Bybit Underscores the Advancements of The Open Network (TON) in Its Strategic Collaboration with Telegram

Bybit, the second-largest cryptocurrency exchange by trading volume, has released a report underscoring the advancements of The Open Network (TON) in its strategic collaboration with Telegram.

Cryptocurrency exchange Bybit has released a report highlighting The Open Network's (TON) key developments in its strategic partnership with Telegram. According to a press release shared with crypto.news, the partnership aims to onboard 500 million users to Web3 by 2028. By integrating decentralized applications (dApps) directly into the messaging platform, TON plans to capitalize on Telegram's vast user base of nearly one billion.

The report compares TON's collaboration with Telegram to the success of WeChat's Mini Programs in China, suggesting that TON could become a leading force in driving Web3 adoption. The report showcases significant milestones, including 280,000 daily active users and 800,000 daily transactions on TON. Toncoin (TON), the network's native cryptocurrency, has experienced a remarkable surge of over 200% this year, making TON the fifth-largest Layer-1 network with a market capitalization of $17.5 billion.

TON's Web3 StrategyAt the heart of TON's success is the integration of the TON Space wallet and Telegram Mini-Apps, such as casual games that offer cryptocurrency rewards. This strategy has played a crucial role in generating over six million accounts since November 2023. Embedded within the Telegram messaging app, the Mini-Apps feature "Tap-to-Earn" games like Notcoin and Hamster Kombat, which combine gaming with crypto-based incentives. The ecosystem also includes rapidly expanding DeFi Mini-Apps designed for trading and staking.

By merging Web3 capabilities with a widely used platform, TON is uniquely positioned to drive mass adoption of digital assets and decentralized finance (DeFi).

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