TON Blockchain Hits $300M TVL & Surges Tenfold Since March

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As an experienced blockchain analyst, I’m thrilled to see The Open Network (TON) surpassing $300 million in total value locked (TVL), marking a remarkable tenfold increase since March. This growth is not only impressive but also significant for the blockchain industry.

The Total Value Locked (TVL) on The Open Network’s blockchain, TON, has exceeded $300 million for the first time, representing an impressive tenfold growth from its value in March.

TON Blockchain Hits $300M TVL & Surges Tenfold Since March

The Open League initiative fuels a significant increase, with top decentralized apps seeing increased usage as evidenced by DeFiLlama data. This data shows a remarkable jump in Total Value Locked (TVL) from $23 million to $317.48 million. Decentralized exchanges such as Ston.fi and Dedust, as well as liquid staking projects like Tonstakers and Bemo, are major contributors to this surge.

During the Notcoin token generation event for the widely-used Telegram Mini App game, our network managed to onboard an impressive 1 million wallets. Our well-designed network infrastructure guarantees seamless transactions, free from disruptions or noticeable delays.

Initially conceived as Telegram’s project, The Open Network managed to bypass legal hurdles and commenced operation in the year 2021. The platform’s native digital currency, Toncoin, is currently priced at around $6.4, giving it a market value of approximately $22 billion. Recently, Pantera Capital, a well-known investment firm, made its most significant investment to date in TON.

The increase in size of TON highlights its importance within the blockchain industry and its compatibility with Telegram’s objectives for expanding their ecosystem.

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2024-05-27 10:12