TON Blockchain Surges to New Heights with Explosive Growth and Major Integrations
The Open Network (TON) blockchain has reached a monumental milestone, with its total value locked (TVL) surging to $609.78 million, according to DefiLlama data. This impressive growth follows just three weeks after TON's TVL was recorded at $300 million, showcasing an explosive 103% increase in a remarkably short period.
Several top protocols on TON have experienced substantial growth in TVL over the past week. DeDust, a TON-based decentralized exchange liquidity pool, led the charge with a staggering 53% surge, bringing its TVL close to $300 million. Additionally, emerging protocols like Bemo, Stakee, and EVAA have all reported double-digit growth, further solidifying TON’s position as a burgeoning blockchain powerhouse.
The rapid expansion of the TON blockchain is being fueled by its close association with Telegram, one of the world's most popular messaging platforms, boasting over 900 million users globally. Rachael Lucas, a crypto analyst at Australian exchange BTC Markets, highlighted the network's massive user base, stating, “This massive potential user base, about 100 times larger than the current on-chain user base of all other blockchains combined, provides a strong foundation for a thriving ecosystem.”
TON's integration with Telegram has also spurred the development of a range of engaging play-to-earn mini-games, such as Notcoin, Yescoin, and Hamster Kombat, which have significantly boosted the network's popularity. In addition, Telegram recently introduced a digital mini-app payment system called Telegram Stars, designed to offer developers lower promotion fees compared to traditional app stores like Apple and Google, further enhancing the platform’s appeal.
The bullish sentiment surrounding TON has been bolstered by key developments. Pantera Capital, a leading crypto venture capital firm with over $5 billion in assets under management, made a significant investment in TON last month, recognizing its strategic alliance with Telegram. Furthermore, Tether, the issuer of the USDT stablecoin, announced its collaboration with the TON blockchain in April, adding to the network’s growing credibility and appeal.
As of now, the price of Toncoin stands at $7.83, reflecting a modest 0.23% increase in the past 24 hours, according to The Block’s Toncoin price page. With its innovative integrations and the backing of major investors, TON is poised for even greater achievements, promising a vibrant future for its expanding ecosystem.
Exciting Developments and Partnerships Drive Adoption
Telegram's integration with the TON blockchain has spurred the popularity of a series of play-to-earn mini-games within the messaging app. Simplistic and token-rewarding games like Notcoin, Yescoin, and Hamster Kombat have further boosted the network’s popularity.
Adding to the excitement, Telegram recently introduced a digital mini-app payment system named Telegram Stars, which offers app developers lower promotion fees compared to traditional platforms like Apple and Google app stores. This move is expected to attract more developers and users to the TON ecosystem.
Strategic Investments and Collaborations Highlight Confidence
The latest developments from TON have also contributed to the bullish sentiment surrounding the blockchain. Pantera Capital, a leading crypto venture capital firm with over $5 billion in assets under management, announced its investment in TON last month, citing its strong linkage with Telegram as a key factor. In addition, USDT stablecoin issuer Tether announced its collaboration with TON blockchain in April.
Toncoin's Steady Climb
The price of Toncoin has shown a positive trend, inching up 0.23% in the past 24 hours to $7.83 at the time of publication
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