Study: Telegram's TON blockchain capitalization will grow to $ 20 billion over 5 years

According to a new study by the New York cryptocurrency fund Decentral Park Capital, the value of the Telegram Open Network (TON) blockchain platform can exceed $ 20 billion over 5 years.

A 59-page document titled “The Current State of the Telegram Open Network – Awakening the Sleeping Giant” states that Gram (GRM) , TON's native cryptocurrency, could become one of the top 10 digital assets in the next five years.

The study points to the high potential of TON, emphasizing that the platform could become a “bank for people outside the banking system,” as well as the first platform for Web 3.0 applications, “akin to the App Store for Web 2.0.”

However, the report notes that TON has yet to solve a number of internal and external problems in order to implement its promising technologies. Decentral Park identified three of TON's main problems: a lack of openness for developers, a hostile attitude towards Telegram from a number of countries, as well as an alleged lack of demand and pressure from sellers.

According to the study, TON is less open to developers than its competitors. Some countries may also restrict the adoption of the Gram. Finally, low interest from cryptocurrency investors and possible delays in launching can lead to pressure from sellers in the short and medium term,

Also on October 10, U.S. cryptocurrency company Coinbase announced that its custodial service Coinbase Custody will support Gram storage.

In an official blog post, the company announced that Coinbase Custody will support the safe storage of three announced tokens – GRM, Sola (SOL) and OXT (OXT) – each time the corresponding network is launched. The announcement said that "as more networks launch tokens, institutional investors face a serious challenge in finding ways to securely store each new unique asset."

Publication date 10/11/2019
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