GetBlock Magazine - What Happened? The Total Blocked Value (TVL) of The Open Network blockchain has exceeded $300 million, increasing more than tenfold since early March. The growth is driven by activity on decentralized exchanges (DEX) Ston_fi and Dedust, as well as liquid staking protocols such as Tonstakers and bemo.

DeFiLlama data

What else is known? The growth comes amid the ongoing ecosystem reward program The Open League, aimed at users of the best decentralized applications (DApps) based on TON.

Since the incentive program was launched, TVL has grown from $23 billion in early March to the current $317.19 million, according to analytics platform DeFiLlama.

At the time of writing, the native token TON ranks tenth in the overall ranking of cryptocurrencies with a capitalization of over $22 billion and is trading at $6.35, having gained 0.3% per day. The weekly growth was 0.8%, and since the beginning of the year the asset has gained 173%.

Earlier this month, one of the oldest and largest cryptocurrency venture funds, Pantera Capital, announced an investment in TON. Pantera said the deal, for an undisclosed amount, was the largest in the fund's history. Representatives of Pantera also emphasized that TON is capable of introducing cryptocurrency to the masses, since it is widely used in Telegram.