$TON continues to analyze, with a relative low point of 2.7 growth approaching 20%. This time, in conjunction with recent news, I will organize some existing risks.

1. The developer ecosystem needs improvement, including various developer tools, especially smart contract development.

2. DEFI applications are lacking, manifested by a shortage of stablecoins and relatively low TVL (Total Value Locked).

3. Telegram lacks hard-core applications, missing features like WeChat's red envelopes and offline payments; currently, it is limited to transfers at most.

Therefore, my strategy is to wait and see. If there are significant advancements in Telegram integration, I will increase my position.