Is Telegram's traffic flooding the prelude to the era of large-scale encryption?

According to OKG Research, Telegram currently has more than 900 million monthly active users, ranking top 4 in the world's instant messaging software (as of April 2024). When these hundreds of millions of user windows are fully open to the encryption field, this is undoubtedly extremely attractive.

The research institute mentioned in its previous article that stablecoins, as a barometer of demand in the encryption market, have seen an overall market value increase of US$30 billion since the beginning of 24, a significant decline from the previous cycle of 2021H2 to 2022H1. With the extrusion of bubbles with financial attributes in the industry, the contradiction between the lack of new users and the game of existing users has put the growth of the entire market in trouble. The problem of liquidity tightening in the encryption market has become more prominent. Is the traffic narrative built around Telegram expected to become a consensus in the global market in this cycle? This remains to be tested by time and the market. But the encryption ecology of Telegram has begun to show its edge.

Bot brings an automatic embedded interactive experience, where users can trigger the execution of established needs through clicks, conversation texts, etc. Take Trading Bot as an example. With the popularity of memecoin, the Bot interactive new listing method has greatly facilitated the user's trading process. According to the data of the top trading Bot applications, the number of new users has exceeded 10,000 per day in the past six months, and the cumulative number of users has exceeded 200,000.

*Source: https://dune.com/whale_hunter/banana-gun-bot

Since April this year, a large number of mini-apps have used simple click operations to trigger viral transmission. At present, the head project has been online for nearly 3 months, and the DAU on the chain has exceeded 140,000. The number of wallets on the TON chain and the number of wallets holding TON ecological project tokens (Jetton Wallets) also showed the same trend, showing a clear upward trend. While participating, users fully learned the entire process of participating in web3 applications on Telegram. Different from the earlier web-based Dapp form, the binding relationship between payment and communication apps is being built, and a crypto payment relationship similar to WeChat Pay is brewing.

*Source: https://www.tonstat.com

Since Tether announced the issuance of USDT on TON in April this year, the current net circulation is about 680 million US dollars, ranking fifth. The circulation of a large number of stablecoins also means that there is a strong demand for encryption business on TON.

*Source: https://tether.to/en/transparency/?tab=usdt

Web3 developers also need to rethink how to rely on Telegram's traffic to achieve a closed business loop. In the past, the design relied more on the exposure of channels to acquire users, and relied more on the financial attributes of the project to achieve user retention. Users expected the speculation of the project rather than its practicality. Although this fundamentals cannot be reversed in the short term. In the current cases of Telegram's application of small games in the Web3 field, based on the Telegram payment system, users can spontaneously recharge in the process of discovering the practicality (interest) of the product, maintaining the early operating costs of the project itself. At the same time, advertising in Telegram, passive push in channels and forwarding between community users can obtain a shorter user link path than before, and self-circulation can be achieved within Telegram.

But at the same time, it is important to note that Telegram's more open environment also means more complicated information security issues, especially in the context of Web3, which emphasizes decentralization, various security incidents such as phishing and fraud are more likely to occur. How to prevent and control the criminals who endanger user information security hidden in Telegram while embracing web3 will also be an important issue.

OKG Research will continue to pay attention to the development of Telegram's encryption ecology and the new changes that have occurred in the industry. In conjunction with the industry's leading institutions focusing on the TON ecology, it will release a research report on Telegram's encryption ecology, always focusing on the web3 innovative technology ecology, and decoding a new chapter of large-scale application.