According to data from The Block, the net circulation of the U.S. dollar stablecoin Tether (USDT) on The Open Network (TON) blockchain has reached 519 million. This occurred after the issuing company Tether transferred USDT and the company’s gold token XAUT About two months after the introduction of the TON network.
The Open Network said on its official Telegram channel:
“It’s no surprise that demand for USDT-TON is soaring. The ability to send digital dollars to anyone, anywhere as easily as sending a text message is a practical, real-world use case that sets USDT-TON apart.”
According to data from DefiLlama, the total value locked (TVL) on the TON chain exceeded $600 million in the middle of this month, which is twice the value locked three weeks ago. As of press time, the TVL on the TON chain has reached approximately US$670 million. Its native token Toncoin (TON) is currently the eighth largest cryptocurrency in market capitalization, reaching US$18.5 billion. The trading price of TON tokens as of press time is US$7.47.
Source: DefiLlama
The blockchain has gained a lot of attention this year as The Open Network became Telegram’s go-to solution for integrating Web3 services. According to reports, Telegram is the fourth largest messaging software in the world, with nearly 900 million users. The surge in TON network activity can also be attributed to the growing popularity of cryptocurrency-based mini-games on Telegram, such as Notcoin and Catizen.
source
Related articles: "The founder of Notcoin admitted that the "click to earn money" model is unsustainable and will try more subsystems in the next four years." "Telegram advertising will be paid in TON. How much impact will it have on TON?" 》
This article The supply of U.S. dollar stable currency USDT on the TON blockchain exceeds 500 million units first appeared on Zombit.
