Key Coins in the TON Ecosystem to Watch in 2026

The coins in the TON ecosystem to watch in 2026 include three Telegram game tokens (Notcoin, Catizen, Hamster Kombat) and two DeFi tokens (Tonstakers, STON.fi). All five tokens operate on The Open Network, and the base coin, Toncoin, was renamed to Gram in June 2026. None of them are inherently safe by default, so be sure to verify the contract addresses before handling them.

Telegram games have attracted a large number of users. As of early November 2026, even the game token with the fewest holders on this list had about nine times the number of holders compared to the largest non-game token. However, "holders" refer to wallets rather than individuals, and wallets that received tokens through airdrops are included. Therefore, these numbers should be interpreted as the scale of reach, and attention should be paid to how these wallets will behave next.

Overview of Key Coins in the TON Ecosystem

|------------------------|------------------|-----------------------------| | Token | End of October Price (CMC) | Number of Holders on TON (TonAPI, Early November) | | Notcoin (NOT) | $0.000361 | Approximately 2.86 million | | Catizen (CATI) | $0.0422 | Approximately 1.63 million | | Hamster Kombat (HMSTR) | $0.000140 | Approximately 1.35 million | | Tonstakers (tsTON) | $1.41 | Approximately 145,000 | | STON.fi (STON) | $0.481 | Approximately 71,000 |

Five Notable TON Ecosystem Coins

These five tokens are on a watchlist and are not a comprehensive sample of the entire TON ecosystem. Information on each token can be verified on the project's official pages.

Notcoin (NOT)

Notcoin started as a tap-to-earn Telegram click game and has grown into a small gaming platform within the app. According to the project's ecosystem page, the click game has recorded 35 million users and 2.8 million on-chain holders, but these figures are from the project itself.

It's important to assess whether players will stick around. Wallets that have merely tapped to earn NOT have no cost to maintain.

Catizen (CATI)

Catizen is a cat game on Telegram that plans to reward holders who stake CATI or participate in games and voting. The tokenomics page states that the total supply is "1 billion tokens, and there will be no increase in the future."

Pay attention to the release schedule. The plan is to lock up about half of the supply for 12 months, followed by an equal release over 48 months, including 20% for the team. Since the last update on the page was two years ago, it should be interpreted as a "plan."

Hamster Kombat (HMSTR)

The white paper for Hamster Kombat, set to be released in September 2024, describes the game as "a cryptocurrency exchange CEO simulator game built on Telegram, with 300 million players," but this is the project's own figure. The supply is fixed at 100 billion HMSTR, and it states that "60% of the total airdrop will be allocated to players."

Crypto Airdrop refers to a mechanism for distributing tokens for free. The white paper also teases Season 2, so it will be important to see if the game can retain players after the distribution ends.

Tonstakers (tsTON)

tsTON is a token received as a receipt when staking GRAM on Tonstakers, and it can be freely moved while the staked coins continue to generate revenue.

The FAQ for Tonstakers states, "Rewards compound every 18 hours, so the value of tsTON in GRAM will continuously increase." Based on the end-of-day price from CoinMarketCap, 1 tsTON is approximately equivalent to 1.17 GRAM, serving as a metric to observe the staking yield of GRAM as a single price.

STON.fi (STON)

STON.fi operates a decentralized exchange (DEX) where users can swap from their own wallets on TON. Staking tokens grants voting rights, and the staking guide states, "The more STON you lock in the protocol for a longer time, the greater your voting rights will be."

Pay attention to it as the foundation (plumbing) supporting the other four tokens. Based on 24-hour trading volume from GeckoTerminal, as of early November 2026, the most active TON pools for each of the four tokens were on STON.fi.

What is the TON Ecosystem?

The TON ecosystem is a collection of applications and tokens built on the blockchain "The Open Network," which is closely integrated with Telegram. The Telegram app utilizes a wallet embedded in the messenger via a connection called "TON Connect." This allows games to run within the chat app while sending tokens on the public blockchain as payments.

GRAM is the base coin used for paying network fees. Phemex listed it at $1.21 at the end of October.

What Happened to Toncoin?

Toncoin was renamed to Gram in June 2026, and the ticker changed from TON to GRAM. The summary of the TON white paper states, "After the vote to rename Toncoin to Gram ended, the official native currency of TON is Gram." The network name remains the same, so TON refers to the chain, and GRAM refers to the coin on top of it.

According to a release from TON Strategy Company, the treasury company of TON, in June 2026, holders did not need to take any action. There was no need for token swaps or migrations, and balances and addresses would not change. Therefore, any links encouraging migration or receipt of Gram should be treated as attempts at fraud.

What is a Jetton Coin?

A Jetton coin is a token on TON, equivalent to an ERC-20 token on Ethereum. The official TON documentation regarding the Jetton mechanism explains that each Jetton can be broadly divided into two parts.

The Jetton master smart contract stores the total supply and designates an administrator who can issue additional tokens or change token details. Each holder is granted an individual Jetton wallet contract to store their balance. Tokens can be verified at the master address, and the number of holders refers to the number of these wallets.

Since GRAM itself is the native coin of the chain, all five tokens mentioned above are Jettons, but GRAM is not a Jetton.

Which TON Token Has the Most Holders?

On this list, Notcoin has the most holders, with all three Telegram game tokens exceeding 1.3 million wallets as of early November 2026. Next is Tonstakers with approximately 145,000, which is about twice the level of STON.fi. These figures are from the tracker TonAPI.

However, this is not a ranking of the entire chain. At least one token not on this list has more holders than Notcoin. For scale, the median number of holders among the 114 tokens tagged in the CoinMarketCap Toncoin ecosystem is about 12,000, with five tokens exceeding 1 million. Including Hamster Kombat, which is tagged without platform notation, would make it the sixth token to exceed this threshold.

The number of holders of game-related tokens should be interpreted as merely indicative of the audience size. The white paper for Hamster Kombat claimed 300 million players, but as of about two years later, there were approximately 1.35 million TON wallets holding HMSTR. This count does not include holdings via exchanges, where a single exchange wallet may represent multiple accounts. On the other hand, tsTON wallets often involve users intentionally staking GRAM to acquire them, making the information value per instance relatively high.

How to Verify TON Tokens

The table below lists five addresses for verification.

1. Check the Jetton master address in the project's own documentation and ignore addresses sent via chat or advertisements.

2. Open that address in the TON Explorer, confirm the token name and supply, and investigate who holds the administrator role.

3. Imitation tokens often reuse similar names, so compare them character by character with the table. For example, tsTON and stTON are different tokens.

4. Even if it's a link sent by a friend on Telegram, do not connect your wallet to unfamiliar apps.

|--------------------------------------------------|--------------------------------------------------| | Token | Jetton Master Address | | Notcoin | EQAvlWFDxGF2lXm67y4yzC17wYKD9A0guwPkMs1gOsM__NOT | | EQD-cvR0Nz6XAyRBvbhz-abTrRC6sI5tvHvvpeQraV9UAAD7 | | EQAJ8uWd7EBqsmpSWaRdf_I-8R8-XHwh3gsNKhy-UrdrPcUo | | Tonstakers | EQC98_qAmNEptUtPc7W6xdHh_ZHrBUFpw5Ft_IzNU20QAJav | | STON.fi | EQA2kCVNwVsil2EM2mB0SkXytxCqQjS4mttjDpnXmwG9T6bO |

Danger signals are common across all chains, and with non-custodial wallets (self-managed wallets), the final verification responsibility rests with you.

What Are the Risks of TON Tokens?

Game-related tokens have had pools with low liquidity. Liquidity in the cryptocurrency market refers to the ease of trading, indicating the funds that are stagnant within the pool you can trade against. As of early November 2026, the liquidity in the most active TON pool for Hamster Kombat was under $1,000. The largest pool for Catizen was about $25,000, while Notcoin had around $50,000.

In such small pools, even minor trades can move the price unfavorably for you. STON.fi and Tonstakers each had active pools exceeding $500,000, but there were no pools exceeding $150,000 for game-related tokens.

Prices simultaneously declined. GRAM and all five tokens closed about 17-30% lower at the end of October compared to the closing price on June 15, according to CoinMarketCap. During the same period, Bitcoin rose about 17%. Although the renaming occurred in the same month, it is not claimed to be the cause of the decline. Holding multiple TON tokens over a period did not significantly contribute to risk diversification.

Telegram is also an environment where fake apps can easily circulate. Fake game bots can request the same wallet connections as legitimate ones, and once approved, you cannot protect yourself through address verification.

Which TON Tokens Can Be Traded on Phemex?

Phemex lists GRAM.

• The GRAM/USDT perpetual contract has been listed since July 6, 2026, with leverage up to 20x and funding every four hours. The GRAM spot pair has been listed since June 29, 2026. The old TON perpetual contract and spot pairs have been delisted.

• The Notcoin perpetual contract was removed from Phemex in August 2026. The NOT/USDT spot pair was listed as of late October, but it has been announced for future delisting on October 9, 2026, so it is not being recommended for trading.

• The perpetual contracts for Catizen and Hamster Kombat were removed in August 2026, and the spot pairs were removed in September 2026.

• Tonstakers and STON.fi do not have perpetual contracts or spot pairs on Phemex. Phemex Onchain is a separate service and is not included in this aggregation.

Futures trading uses leverage, and positions that reach losses equal to the margin are automatically settled.

Frequently Asked Questions

What is Telegram Coin?

It is a colloquial term referring to tokens linked to games and apps within Telegram. Notcoin is one example, starting as an in-app click game, and its token operates on TON as a Jetton.

How can I buy TON Coin?

If referring to the base coin, that would be GRAM. Phemex has listed the GRAM/USDT spot pair since June 2026. For Jettons, you will need to verify the master address and swap on a decentralized exchange on TON from your own wallet.

Do I need to exchange Toncoin for Gram?

No. According to a release from TON Strategy Company in June 2026, token swaps or migrations are unnecessary. Balances and addresses remain unchanged, with only the name and ticker being modified.

Is tsTON the same as GRAM?

No. tsTON is the token received when staking GRAM with Tonstakers, and its value in GRAM increases through the compounding of rewards. Based on the closing price at the end of October on CoinMarketCap, 1 tsTON was equivalent to about 1.17 GRAM.

Conclusion

The number of holders indicates how many wallets the game has reached. For the five tokens discussed, the scale of the crowd and the depth of the pool are almost inversely correlated, providing little insight into the amount of backing funds for the tokens.

For game-related tokens, it is reasonable to observe player retention, while for DeFi tokens, it is more appropriate to look at the development of untapped layers. In both cases, it is not advisable to conduct large swaps without confirming the depth of the pool.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Trading in cryptocurrencies involves significant risks. Please conduct your own research (DYOR) before making investment decisions.