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MEXC Crypto Exchange Makes Strategic Investment in TON Blockchain

source-logo  coincodex.com 26 September 2023 11:20, UTC

Key highlights:

  • In a strategic move, one of the largest crypto exchanges MEXC has placed a bet on the promising TON (The Open Network) blockchain.
  • They see huge potential since TON is integrated with Telegram, giving it access to over 800 million active users just waiting to get involved with blockchain.
  • TON is lowering the learning curve that's kept many people from exploring blockchains. Through Telegram, an app people already use daily, TON lets folks dip their toes into crypto without even realizing it.

MEXC, one of the largest cryptocurrency exchanges by trading volume, has announced a strategic investment in TON (The Open Network) blockchain. This exciting partnership shows the growing potential both companies see in each other.

?#MEXC has announced a strategic investment in @ton_blockchain.

?#MEXC Ventures and TON Foundation will also work together in the future to explore more collaboration opportunities in the development of the #TON Ecosystem.https://t.co/sbT5kK0oGi pic.twitter.com/JjLf4UjaFQ

— MEXC (@MEXC_Official) September 22, 2023

TON is a blockchain platform integrated with the popular messaging app Telegram. With over 800 million users, Telegram provides a massive pool of potential blockchain adopters just waiting to be activated. MEXC clearly wants in on the ground floor of this opportunity.

Bridging the gap between apps and blockchains

By connecting with Telegram, TON aims to remove barriers that have prevented widespread blockchain adoption. The average person spends far more time in apps like Telegram than exploring obscure cryptocurrency networks. TON bridges this gap, allowing people to dip their toes in decentralization without even realizing it.

As anyone who has tried explaining blockchains can tell you, the learning curve is real. Lowering that curve is key for user-friendly mass participation. TON gets people comfortable with core blockchain concepts like crypto tokens through an intuitive app they already know and love. Over time, many will naturally want to go deeper.

Powering the ecosystem with Toncoin

At the heart of TON is its native cryptocurrency, Toncoin. Holders can use Toncoin to power smart contracts, decentralized applications (dApps), and participate in network governance. A portion also funds the TON Foundation for further ecosystem development.

This win-win approach of providing utility and incentives has helped Toncoin attract a thriving community of builders. Exchanges like MEXC recognize that community strength equates to long term project viability. By empowering TON's growth, they empower their own in turn.

More to come from this dynamic duo

While this initial partnership focuses on investment and listing support, MEXC and TON have much grander ambitions. Both parties have publicly stated their intent to explore deeper coordination on products, services and coordinated marketing.

At the time of writing, Toncoin (TON) is trading at $2.15, up significantly from $1.28 a year ago. The token has a market cap of $7.4 billion and ranks #11 overall.

MEXC's investment validates TON as a promising blockchain project. It also strengthens ties between TON and Telegram, which could drive adoption among Telegram's vast user base.