The USDT volume on the TON network has surpassed $1 billion.
TON network’s USDT transaction volume surged 670% in six months.
Analysts expect the TON network’s increased adoption to affect its token’s price positively.
The USDT volume on the TON network has crossed $1 billion, according to Burak Kesmeci, a Cryptoquant analyst. Kesmeci reported that the TON network’s USDT volume surged 670% in six months, showcasing users’ growing preference for the Telegram-based blockchain for stablecoin transactions.
Source: Twitter
In May 2024, TON held $130 million in USDT stablecoins, which has since risen to $1.02 billion. This spike has led several crypto analysts to project how the increase could influence TON’s price.
The rising stablecoin transaction volume on TON has yet to affect its native token’s price. TradingView data shows TON is currently trading at $4.83, under bearish pressure.
The TON token’s price trend contrasts with the increase in stablecoin transactions. TON’s current price is 41.8% below its all-time high of $8.28 set in June 2024. However, the token’s price history indicates potential stabilization after finding support …
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