The Open Network (TON) blockchain soared to $609.78 million in total value locked (TVL) on Monday, according to data from DefiLlama. This comes just three weeks after the network's TVL recorded $300 million.

Many of the top 10 protocols on TON have seen significant growth in TVL over the past seven days. TVL on DeDust, a TON-based decentralized exchange liquidity pool, increased 53% over the past week, reaching nearly $300 million. Smaller protocols such as bemo, Stakee and EVAA have also seen double-digit growth over the same period, according to the data.

Total locked value of TON | Source: DefilLama

TON blockchain is increasingly emerging as Telegram's preferred solution for Web3 integration. Telegram, one of the most used messaging systems in the world, reportedly has more than 900 million users.

“This large potential user base, approximately 100 times larger than the current on-chain user base of all other blockchains combined, provides a solid foundation for a thriving ecosystem,” Rachael Lucas, crypto analyst at Australian cryptocurrency exchange BTC Markets, told The Block.

Application of TON

Telegram's integration with the TON blockchain has led to the popularity of a series of play-to-earn mini games, which can be played on the messaging app. Simple games and token rewards such as Notcoin, Yescoin and Hamster Kombat seem to have further boosted the network's popularity.

Earlier this month, the messaging app introduced a digital mini-app payment system called Telegram Stars, which offers lower promotional fees to app developers compared to traditional platforms like Apple and Google app stores.

The latest developments from TON have also contributed to the optimistic sentiment. Pantera Capital, a crypto venture capital fund with over $5 billion in assets under management, announced its investment in TON last month, citing its association with Telegram. In April, stablecoin issuer USDT announced its partnership with the TON blockchain.

However, the increased popularity of the network has made it a target for cybercriminals. Cybersecurity company Kaspersky specifically claimed that scammers used the messaging app and Toncoin, TON's native cryptocurrency, to build a pyramid scheme targeting cryptocurrency users.

Toncoin's price has decreased slightly by 0.5% over the past 24 hours to $7.79 at press time, according to Bitcoin Magazine's coin price page.

Source: https://tapchibitcoin.io/tong-gia-tri-khoa-cua-the-open-network-ton-tang-vot-len-tren-600-million-usd.html