TON have good developtment but not sure will be biggest competitor for Ethereum regarding have most lower price comparison with Ethereum. But TON is very worth for investing with lower price and potential in the future they have telegram as back up or support such as BNB with Binance exchange.
It is too early to think that TON can be the competitor for Ethereum. BNB and SOL are the coins that can compete ETH in the future. Now, I still don't see the real competitor of ETH, the market cap of BNB and SOL are still too far to reach ETH market cap. BNB, SOL, and TON may offer cheaper price but it still can't improve much the market cap. We still can't say these coins as the competitor of Ethereum now.
Near close become Ethereum competitor currently is BNB have good trend raise to higher price, if keep consistent I believe one day later has opportunity for BNB become great competitor for Ethereum but still need waiting right moment.
How do you conclude that BNB is nearing Ethereum?
Even USDT market cap isn't a half of Ethereum market cap. So far, Ethereum has no competitor but we don't know what will happen in the future. However, I can agree that BNB, SOL, and TON may be the competitor of Ethereum someday.