The Rise and Fall of TON: Telegram's Crypto Journey and Its Impact on the Ecosystem
Good day, everyone, and welcome to my blog. The crypto space has seen different activities taking shape for good and for bad, as every activity has a purpose to fulfil in the crypto space. It has been over a year since Telegram made a wave in the crypto space, bringing many different users together into the app and also bringing in new users into the crypto space. The TON blockchain under Telegram had many positive factors and looked to usher in a new era in the crypto space because of the level of users it was bringing, both young and old.
Telegram experienced high usage on its server and became one of the trending apps in 2024, alongside X, as they both had similarities, which was free speech. Telegram got so popular that the French government sought to censor the app, but Telegram founder Pavel Durov was unwilling to share data with the French government, which led to his initial arrest earlier last year. The arrest just made Pavel Durov more popular and got many crypto enthusiasts protesting online for the release of Durov, and even got Elon Musk to make a thread on X on the injustice by the French government detaining the Telegram founder.
Pavel Durov got released from the custody of the French government, and that storyline died down. Telegram looked to be taking a new turn after Durov released, as many users still flooded the app, but things began to change as some of the in-game meme coins, which were telegram, started to move shady as they ask gamers to paid a certain amount of TON to get more points when the airdrop distribution started, while some require TON transaction to continue participating in the game. At first, it was cool because projects that started earlier in the TON blockchain were delivered earlier than expected, which sparked the attention of many people within and outside the crypto space.
Paying some fees was not an issue, but when some of the projects began to deviate from the TON Ecosystem to another, it began to cause some cracks within the TON Ecosystem. It became known that the projects running on Telegram started a rug pull, which began to give the TON a bad reputation, and gradually they began to lose many users, as most people were not willing to spend money on a project that would turn out to give them peanuts when they were set to launch. This went on for a while before the Telegram came out and addressed that any project that doesn't launch under the TON Ecosystem should leave the Telegram.
It has many projects on the space moving out, but in the end, I would say the damage was already done. Today, I barely hear about TON or see a thread on X about projects under the TON Ecosystem, as many people have moved on from that space. It was a good run while it lasted, and seeing how the TON Ecosystem has turned out, I doubt if there will be any project to revive it because the majority of its users have lost interest in anything that has to do with TON, or I could be wrong. So, guys, that will be all for now. Thanks for stopping by, and have a good day.
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