But it makes you wonder, will it go higher or is this a peak? Give us a few minutes of your time and we'll show you why it's going higher, and where to.

Crypto's pretty much a household name already, a lot of people already entered and those who wanted to go on-chain (interact directly on the blockchain) already have. Whether that's through MetaMask and using Ethereum or Phantom and using Solana. The user experiences improved but they're still complicated for the average person, so to onboard a new wave of people you need seamless user experiences.

Think of it this way: "the simpler the user experience, the wider the door, the more people enter and then hopefully the higher prices go."

To create great experiences you need great developers which are already rare but even if they achieved it, they then need to find users and market to them.

This is why we told you about Coinbase's new blockchain before: Base. They have 100M users on their app and they're sending them and their funds on-chain. But Coinbase isn't alone in this battle.

Telegram is a platform that already has 900 million users on their app and they've decided to create that seamless on-chain experience.

And, all of the acceleration only just started now in April 2024.

TON, standing for "The Open Network", is the official token used within the Telegram ecosystem. You use it to pay for:

• Advertisement on Telegram: This used to have a 2M Euro budget requirement but it recently opened up to all at a minimum 20 TON budget ($100 today). A majority of channel owners are likely to use this.

• Anonymous eSim from TonMobile: Imagine the hassle free travel where you can buy roaming data anywhere you go straight from your phone, no more sim shopping at the airport.

• Monetizing your Audience with Tribute: Subscription models have become increasingly popular amongst content creators, so now anyone can monetize their audience on Telegram. Instagram and Twitter already launched a similar feature.

• Protect your Browsing Experience with TonVPN: Many people use VPNs to protect their browsing experience (or change the country they're accessing something from). Now you can use TonVPN which is a lot cheaper than other services at $3.40 per month ($40.80 per year).

Notice anything here? All of these applications where TON is used for payments are for everyday people, they're not some special DeFi protocol that only 1% of the world will use. These are mainstream applications and TON is at the heart of them.

There are many more updates and applications that they have planned on their roadmap, which you can view here.

TON is a Layer-1 blockchain like many others, so the best way to try and value it is to compare its valuation to that of other established ones.

Once we finalize the numbers, we move onto our projections.

The first three rows are collected data, the last two are ratios we calculated to better understand how the market is valuing each blockchain.

1. The value per user, derived from dividing the valuation by active users, varies across blockchains due to their unique target audiences. Ethereum, with its plethora of financial applications and a higher entry cost, justifies a value per user of $935,000. Conversely, BNB Chain, appealing to a broader base with less capital, aligns with its $63,000 value per user. TonCoin, still a newcomer with less historical data, is one we project settles at approximately $50,000 per user, reflecting its emerging status and potential user base.

2. The Val:TVL Ratio, representing the valuation divided by the total value locked, puts TonCoin at an optimistic estimate due to expectations of growing TVL, a perspective we agree with. For our projection analysis, we'll adopt the average ratio of 24, observed across blockchains excluding Ethereum, as our standard benchmark.

Now that we set the stage, we can move onto the projections phase where we determine the number of Active Users and TVL (Total Value Locked) we believe are achievable by TonCoin. Then, we'll use the ratios to extract a price target.

The two metrics that can be changed are the Projected Active Users and the Projected TVL. We also created this interactive calculator that allows you to change these two values and find where that would take TON's price.

Once again, we are a random Instagram page you came across. Don't randomly believe things, verify theories and never bet the farm (i.e. bet more than you can afford to lose). None of this is financial advice, this is created for educational and entertainment purposes only.

If you decide to buy TON on Telegram, first secure your Telegram account. Enable two-factor authentication and make sure you have access to the phone number used.

One of the ways we tested our TON thesis is by asking our incredibly gifted business partner, who's not crypto-native, to create a wallet on Telegram and to tell us how long it took them. "Two minutes" was the answer, and that's when we knew that TON was ready.

You can buy TON directly on Telegram. First you'll need to create a wallet by searching for "Wallet" and choosing the official one (with the blue verification badge) and then you just need to follow the steps.

Though be wary, the main wallet you access on Telegram is centralized and will require KYC above €3,500 of usage.

There is another decentralized wallet within the wallet app that you can use by enabling "TON Space" (Beta) from the wallet's settings. This one is slightly more complex to use but it gives you access to the entire TON ecosystem.

Base doesn't have its own token, so we had to pick and choose tokens within its ecosystem to invest in. TON, on the other hand, does have its own token, and getting into its ecosystem is a bit trickier than just dealing with the token itself. Plus, spending TON on regular services doesn't always mean more value for the TON ecosystem.

So, we're mainly investing directly in TON for now. This idea is based on the Fat Protocol Thesis, which is just a fancy way of saying that most of the money to be made comes from the ecosystem's main token.

While we do project a future TON price of $47 to $49, it's important to understand that things may go wrong along the road. Telegram could run into legal issues again, we could see hacks, or unexpected events might happen.

Investing is a game of probabilities, not gambling. You must understand that if you go all-in on one bet and it goes wrong, you're out of the game. This is why choosing your allocations carefully is important.

Lasltly, never invest in something before you do your own research and the best way to do that for TON is to try out the user experience and decide for yourself. Then, look for some of the numbers and see if any of what we said makes any actual sense.

Once again, we're a random Instagram page that's trying to bring value into your lives But at the end of the day, that's exactly what we are—a random Instagram page. Just not your average one...

• Solana Ecosystem Value: $220 Billion

• Base Ecosystem Value: $2.4 Billion

Do you see the drastic difference and opportunity window we’re seeing? On the low end, Base’s ecosystem value will increase by 100-fold.

Base is a Layer-2 (L2) blockchain created by Coinbase. An L2 is technically a chain built on top of another blockchain, in this case Ethereum, to allow for higher speeds and lower fees. There are many other L2s such as Arbitrum, Optimism, zkSync and Starknet, but none compare to Base. Why? Simple, because of the Coinbase Effect.

Coinbase’s goal is to onboard 1M developers and 1B users onto Base. Can they do it? They have over 100M users already, over $200B in assets on the exchange, they manage 90% of the Bitcoin ETF money (including Blackrock’s) and they are the top crypto exchange; especially after FTX’s failure and Binance’s legal issues.

This is a screenshot from Base’s official website (old data, real number is $200B now). So don’t take our word, take theirs. It’s clear that Coinbase wants to take all that money on-chain (Base).

In other words, they not only can do it, they will do it. So, don’t fade Base.

Base does not have a native token for the chain, yet. They’ve been saying that there won’t be a token and maybe that stays the case for a while but eventually we’re confident they'll launch one.

But, given Base’s extensive building at that point, the valuation it comes on the market at will be too high to expect a high return, it won’t be a SOL or BNB at $1 kind of situation. You’ll benefit from the airdrop though, likely by a lot, so start using it. But again, as of today there's no Base token to buy.

“How do I invest then?” This is where you start digging into Base’s ecosystem and start buying into innovative projects. You have everything from DEXs to Derivatives (DeFi), Decentralized Gaming (DeGaming), Decentralized Social Media (DeSo), NFTs, Memecoins and everything in between.

You will need to download Coinbase Wallet on your phone and fund it with some ETH (here is a good tutorial we found). Once done, Bridge your ETH over to Base and start swapping to buy the tokens you want.

Let us guide you and give you the lay of the land.

Keep in mind that we’re a random Instagram page, so don’t blindly trust some words you’re seeing on your screen and don’t go all in for god’s sake. Base is so early that even small amounts can return really high profits.

These are at the core of any ecosystem, because you cannot trade tokens without them. To be clear, we’ll only be mentioning the projects that are exclusively on Base, not things like Uniswap that already are on 10+ chains.

This is the main DEX (decentralized exchange) on Base, besides Uniswap. It is launched by the same team that built Velodrome Finance (VELO) on the Optimism L2. It uses a smart model that allows teams to incentivize liquidity on their own token (deeper liquidity = better user experience and welcoming to whales). The AERO token has already gone up 20x and we've telling some of you about it via DMs (when asked).

Borrowing and Lending platform (i.e. money market). Study Aave to understand how big these types of platforms are. They are boring for the average person but they are a backbone of DeFi. SEAM is also listed on Coinbase, it is a likely candidate for becoming a Base Bluechip Asset.

Another money market platform. The yields aren’t the highest but they are attractive and they’re pumping the numbers up by giving out incentives in WELL. This is a double-edged sword because it brings in capital through the attractive yield but also dilutes the WELL token.

A DEX that has their equivalent already launched and established on the Fantom blockchain with the EQUAL token trading at 10x the valuation of SCALE. Given that we think Base is going to be bigger than other chains, then there’s an opportunity for SCALE to scale.

A smaller money market platform that really needs to find a way to increase the yield on their lending market, otherwise they won’t grow much. Their only yield that’s currently attractive is yield on USDC.

Another DEX Small valuation, high risk, high potential. AlienBase is starting to catch traction amongst crypto natives, this is mainly why its valuation has gone up.

This is a pure derivatives exchange that offers users perpetual futures (you know that thing your friends use to access very high leverage? Yes, that’s perps). NetherFi is pretty basic, nothing special, just a low valuation. The biggest Perp Platforms on Base are going to be IntentX and Avantis, but they don’t have tokens yet so you can also trade on them to get the airdrop in the future.

This is an extremely small one, you don’t need this one to be a winner to make money, you just need it to be a mover. It’s a DEX, that also offers perpetual futures and a launchpad for new projects. Their team has been very quiet and that’s the reason for the low valuation.

Another basic perps exchange but they have a V2 launching soon (unknown date) and that’s enough of a catalyst to push price up. Unlikely a winner over the long-term though, their team isn’t made of relentless builders.

GrandBase (GB) was removed from the list as their team took predatory action against token holders.

This is where we believe a lot of the growth is going to happen. Coinbase is focusing on bringing 1B users in and they definitely won’t come to use DeFi, they need mainstream applications like Gaming and Social Media (next).

PRIME is at the intersection of AI and Gaming, two large industries. They currently power a game called Parallel Life (though not the most interesting gameplay) and they share PRIME tokens with users. The interesting part is a new chain called “Nim” that supposedly powers an AI Gaming chain airdropped some of their tokens to PRIME token holders. So, holding PRIME is becoming rewarding.

This is the token of a new game built on Landtorn (which has a non-tradeable token: TORN). The interesting part isn’t actually holding SHARD but rather earning TORN (details here).

Iskra moved to Base on the 21st of March. Similar to Echelon Prime (no AI though), they power different games that people can play and earn from. What’s most interesting is the low valuation that allows someone to buy a small amount and potentially make a decent return.

Another mainstream application is Social Media (we’re all endless scrollers at times). To onboard 1B users, they need something like that.

As of now there are no official Base DeSo tokens that you can purchase. The largest platform by far is called Farcaster, on top of which different social media platforms can be built in an interoperable way for users. Try out their version of Twitter called Warpcast (download on your phone), they are integrating many Web3 features that allow you to, for example mint NFTs directly on there, buy tokens, etc.

One example was the memecoin DEGEN (MCap: $567M) being airdropped to some Warpcasters and now being used as a way to tip high quality content creators on the platform. It has essentially become the unofficial Warpcast token and it has also become the "almost official" token for the Decentralized Instagram: Drakula.App.

Speaking of memecoins, there are too many to count on Base already. Let’s dive into the top ones.

Memecoins in 2024 are the same as NFTs in 2021. They are popular, easy to buy and they’ve made millionaires. Granted, this is all temporary and the hype won’t last forever. On Base though, the hype is only just getting started.

Note: We added the token contract address because finding these tokens may be hard. This makes it easier and you can vet that information on DexTools.io or CoinMarketCap.

1. Toshi (TOSHI) | MCap: $256M *. OG Base memecoin, as well as the most popular. Likely gets to $1B+. Token Contract Address: 0xac1bd2486aaf3b5c0fc3fd868558b082a531b2b4

2. Mochi (MOCHI) | MCap: $61M. Second in line to Toshi in terms of OGs, but its hype has started to fade. Maybe they redeem themselves, maybe they don’t. Memecoins are sort of a gamble anyway. Token Contract Address: 0xf6e932ca12afa26665dc4dde7e27be02a7c02e50

3. Brett (BRETT) | MCap: $403M: Second biggest memecoin after DEGEN. Token Contract Address: 0x532f27101965dd16442e59d40670faf5ebb142e4

4. Dog in Me (DOGINME) | MCap: $100M: Really hard to make up reasons as to why memecoins go up besides people liking the meme? Token Contract Address: 0x6921b130d297cc43754afba22e5eac0fbf8db75b

5. Base God (TYBG) | MCap: $60M: A meme inspired by Brian Armstrong, the ticker is literally saying TY (thank you) to him. Token Contract Address: 0x0d97f261b1e88845184f678e2d1e7a98d9fd38de

6. Basenji (BENJI) | MCap: $36M *: This weirdly caught traction overnight. Personally bought some just shy of $0.004 per BENJI and woke up to $0.026 less than 24H later. Token Contract Address: 0xbc45647ea894030a4e9801ec03479739fa2485f0

7. Boge (BOGE) | MCap: $15M: Inspired by Doge with a one letter difference. Token Contract Address: 0x4e496c0256fb9d4cc7ba2fdf931bc9cbb7731660

8. Poncho (PONCHO) | MCap: $13.5M: Don’t really know at this point, maybe just a cute cat? Token Contract Address: 0xc2fe011c3885277c7f0e7ffd45ff90cadc8ecd12

9. Bloofostercoin (BLOO) | MCap: $12M *: “Blue” for Coinbase’s color. The one thing that sets this one apart is the fact that they are very active and consistent on social media. Token Contract Address: 0x8a5f9a6b653ecbdb406f9eb5f0c8ddba10919aec

When it comes to memes, you have to understand that it is community that determines whether one will live on or die soon. In either case, never bet too much on memecoins. There’s no intrinsic value that they start with, rather they cumulate it over time by building a community; similar to how many NFT projects become successful over time.

Note: NORMIE was omitted from the list due to their exploit, which has a high probability of being an insider job. Naturally, with memecoins come extreme risk and an exploit like this one is a reminder of that.

Base also has its fair share of NFTs. People will make money from tokens and they’ll want to show off that wealth by owning unique NFTs. The two most interesting collections at the moment are:

1. BaseFellas (OpenSea URL): This can be compared to CryptoPunks, though don’t take this as a promise that they’ll ever reach near 100 ETH in floor price.

2. OnChain Gaias (OpenSea URL): The most interesting part of this NFT is the fact that the DAO keeps buying Base tokens. This is a refreshing approach.

Long piece and loads of information. We will be releasing much more Base-related content but the first one really needed to recap everything that’s happening. Read it a few times, look through the projects, try them, follow their socials (mainly Twitter) and keep your ear to the ground.

By the way, every project with a * next to it is one of our favorites on Base so far. And yes, we may own some of the tokens mentioned above.

Many new tokens will come soon to Base, we’ll inform you of the top ones at the right time. Make sure to turn on Instagram notifications for 0x100x and follow us.

Base is going to eclipse Solana and BNB Chain. Don’t miss out.