Dmitry Machikhin, CEO of Pressman Capital investment fund, explained why Pavel Durov's project got a second life and what prospects it opens up for holders of TONCOIN tokens
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In 2017, the news of the launch of Pavel Durov's own blockchain project and his TON team attracted the attention of many investors. In three rounds of attracting private investment, Telegram Group managed to raise more than $ 1.7 billion, and some applications for participation even had to be rejected, since the plan to raise funds was exceeded.
Some time after the disclosure of information about the new internal currency GRAM in the TON ecosystem, the project became interested in the US Securities and Exchange Commission (SEC), whose actions a little later forced Durov to abandon the continuation of work on the project and return the money to his investors. Contrary to popular belief that this was the end for the TON initiative, the project actually took on a fresh start.
Since 2020, the TON platform has been taken over by the Open source community development team, whose work was later recognized in the Telegram Group and agreed to transfer the initial ton.org domain to the team, as well as the original repository, where all work on the blockchain began.
The developers of the Open source community (now the TON Foundation) set themselves the goal of establishing the interaction of other blockchains through their network, thus creating a full-fledged Web 3.0 ecosystem and providing it with all the necessary tools: a platform for creating smart contracts and decentralized applications, DNS, Proxy, a convenient system micropayments and more. Some of these modules of the ecosystem have already been implemented and are working, and on the project website there is a complete list and the degree of readiness of the projects that the developers are working on.
The essence of the idea is to buy a token at an early stage in the development of a promising project. The native token of the project, TONCOIN, has recently been available on exchanges. The token is currently trading at $ 0.74. For buyers, the level of $ 0.6 is interesting, where you can profitably purchase an asset. When this entry point is realized, the sale of an asset can be carried out at the levels: $ 1.8, $ 2 and $ 3.
Altcoins are now under pressure due to the growing share of bitcoin in the market. TONCOIN currently occupies a rather modest 3443 place on CoinMarketCap.
There is a possibility that when crypto investors start transferring capital from the first cryptocurrency to alternative coins, the queue for TONCOIN may not reach. On the other hand, the domestic economy and growing interest in the coin can, in a new impulse, bring new money to TONCOIN and significantly increase the capitalization of the project.