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USDT and Ton join forces to change the landscape of stablecoins?!
The popularity of Notcoin brings about mini-program chain games!
Trading strategy reference
$TON trading strategy: spot grid combined with spot Martingale
$NOT trading strategy: spot Martingale combined with contract grid
Further reading: Development of Ton
Infrastructure improvement, full-speed sprint of the ecosystem
June 21, 2024, $NOT ready to go?
USDT and Ton join forces to change the landscape of stablecoins?!
In April of this year, Tether announced its collaboration with TON, integrating USDT into the TON ecosystem and making payments as easy to use as Venmo or Apple Cash with its built-in wallet. Within three days of its launch, the total supply of USDT on the TON chain exceeded 60 million, and it has been growing steadily ever since.
TON allows for transactions between two users at a fixed fee of ~$0.10, much lower than many other solutions on the market. Recently, several well-known exchanges have started accepting TON for sending and receiving USDT, expecting to attract more users to use the TON public chain for value transfer.
The popularity of Notcoin brings about mini-program chain games!
Every month, more than 360 million users participate in Telegram’s so-called “mini-applications,” including chatbots and mini-games. Among them, Notcoin is the first Telegram game to introduce the clicker mode and one of the fastest spreading on-chain applications. Founder Sasha expressed in an interview that he wants to continue developing from the description of “clicker” and plans to build a “sustainable and efficient subsystem” over the next four years to enable the project to continue to grow. For example, the Notcoin app launches activities that allow users to earn $NOT rewards by interacting with other Telegram apps, stimulating demand for $NOT and destroying some tokens.
The success of Notcoin opens up imagination for Telegram games and demonstrates the platform’s huge potential for user participation and strong community consensus. Whether it is improving the game mode of Notcoin or introducing other gameplays, many teams have started launching game projects on TON. $NOT, as the absolute leader in this race, has both meme attributes and symbolic meaning. Its price is worth looking forward to as the ecosystem explodes in the future.
Trading strategy reference
After talking about so much, how can we participate in the TON ecosystem? In addition to the familiar “spot/contract trading,” OKX also has a comprehensive set of trading tools. We have compiled two useful tools and their usage logic for your reference~
$TON trading strategy: spot grid combined with spot Martingale
$TON is still in an upward range and has returned to the monthly support after a small rise. From the position of the deduction price (blue line), the upward force of SMA30 is still relatively small. If it does not fall below SMA30, it is expected to continue to rise. However, the current market trend is unstable, and $TON may continue to consolidate within the range. Therefore, it is recommended to use spot grid to earn the range from $8.29 to $6.3. If $TON falls below $6.3 due to the weak overall market, considering its strong performance in the past few seasons, you can use the contract Martingale to take advantage of the rebound.
First, choose “1%” for “how much to add on a dip” (aggressive investors can adjust it lower) and set the “single take-profit target” to about 3-5%. Since I estimate that there may be a chance to return to the range around $6.3, which is a 10-15% drop from the current price, you can set the “maximum number of additional positions” to around 8-10. I usually set the leverage at 5-8x.
In the “advanced settings” section, you can set the trigger condition to $7. The “position amount multiple” can be set to 1.2 (which means if the initial position is 100u, the second position will be 100*1.2=120u), and the “position difference multiple” should be kept at 1.
With these settings, the strategy will start running when $TON falls below $7. If $TON continues to remain strong and is unlikely to fall below the bottom of a range, it will rebound to the current range, and the strategy we designed will help us capture the complete profit in this market trend!
$NOT trading strategy: spot Martingale combined with contract grid
In terms of the current trend of $NOT, it has already retraced 50% from its high point and is still in a downtrend. However, we can see that the trading volume is decreasing during the downtrend, indicating a decrease in market supply. In addition, in terms of correlation, the correlation between Not/Ton over the past month is 0.58, and the correlation over the past week is 0.83. If you are optimistic about $TON, it can be inferred that the bottom of $NOT has slowly formed.
If you are also optimistic about the future development of the Notcoin project but are concerned that recent market retracements will cause small coins to experience severe volatility, you can gradually build a position in $NOT spot using spot Martingale. In addition, you can also use contract grid after breaking through the downtrend triangle (refer to the chart) to further amplify the profits.
In terms of the parameters for spot Martingale, you can capture the retracement range of $NOT, which varies from 3% to 15% daily. You can add a position every 2%, and more aggressive investors can add smaller positions (e.g., 0.5-1%). In the “investment amount” option, enter the desired initial position for the “initial order amount” and choose the “additional order amount” and “number of additional orders.” If you add a position every 2%, you can set the “number of additional orders” to 10, which implies a potential further retracement of 20%.
If all of these seem too complicated, OKX actually has several AI strategies that can be used directly. They are also divided into “conservative,” “balanced,” and “aggressive” strategies based on risk attributes, making them suitable for grid trading beginners!
Development of Ton
TON (The Open Network) was initially created by the founders of Telegram, Nikolai and Pavel Durov, and launched the issuance of Ton tokens during the peak of the ICO era in 2017. Although hindered by the SEC in the United States, TON continued its development under the community-focused Ton Foundation after 2020. However, it still carries the expectations of many people for mass adoption of blockchain.
Last year in 2023, TON Network received a series of positive fundamental news, attracting institutional investments such as Mask Network and Animoca Brands, and its price has been soaring. With the gradual softening of regulatory attitudes towards the crypto industry, Telegram officially announced TON as its Web3 infrastructure, establishing a formal partnership. According to reports from The BLOCK, Pantera is reportedly raising further funds to invest in more $TON after its significant investment in TON Network earlier this year, demonstrating its importance to the project.
Infrastructure improvement, full-speed sprint of the ecosystem
At the Token 2049 event last year, Telegram announced the launch of the native non-custodial Web3 wallet TON Space integrated into its application, reducing the barriers for users to participate in the decentralized finance ecosystem. In addition, there are also various DeFi applications in the ecosystem (Stone.fi, DeDust, TonUP, etc.). In April, the foundation launched the Ton Open League, which attracts more on-chain developers to build the ecosystem through a rich incentive program.
Objectively speaking, the ecosystem on TON is not as mature as many established public chains, but this represents even greater imagination for the future. Coupled with the influx of funds (observing TVL and stablecoin issuance), I believe that innovative application patterns will emerge this year.
Summary of the previous context: Notcoin is a popular game in the Ton ecosystem, featuring “Tap to Earn” where players can earn money by clicking on the game. After most of the airdrops in May, $NOT entered full circulation and was listed on major exchanges. Due to its gameplay and meme attributes, it has attracted a lot of attention in the market.
Bollinger Bands view: $NOT is in a contraction state within the Bollinger Bands, suggesting a possible new direction. It is currently oscillating in the range of $0.014 to $0.017, making grid operations feasible.
Ichimoku Cloud view: The Ichimoku Cloud shows that after the death cross, the trend has been falling and entered a consolidation phase. The trading volume shows that it is unable to sustain when it rises, indicating a lack of consensus and sentiment in the market. Based on the pressure from the cloud, it is suitable for grid trading in the short term, unless the trend further declines.
Considering that the ETH spot ETF is about to be approved and funds will flow back into the Ethereum ecosystem, the upward momentum of $NOT is limited. In the short term, grid operations are suitable, and the strategy can be adjusted when the pattern changes.
Grid operation suggestion: Set the grid operation range for $NOT at $0.014 to $0.017, with six grids. Use OKX exchange’s spot grid for operations.
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In addition, OKX is launching the NOT airdrop month, where from June 21, 14:00 to July 31, 23:59, completing the first transaction task will allow you to share a total of 4,500,000 NOT.
The above information represents personal opinions and does not constitute any investment advice or represent the official position of OKX. Investments involve risks, so remember to DYOR.
