As a seasoned crypto investor with a keen interest in the TON ecosystem, I’m both excited and cautious about recent developments. The network’s impressive $600 million TVL growth and the upcoming launch of TapSwap are undeniably promising signs for the ecosystem. However, Toncoin’s price dip to $7 is a temporary setback that I believe will be short-lived.
TON ecosystem’s TVL hits $600m, despite Toncoin’s price dip to $7, sparking future optimism.
On June 17, 2024, the TON blockchain reached an impressive achievement as its total value locked (TVL) surpassed $600 million. This notable increase represented a remarkable 130% growth in less than a month. The cryptocurrency community believes that the network’s expansion and current popularity can primarily be attributed to the success of its mini apps.
Despite the significant advancement, Toncoin’s price took a steep dive on Tuesday. It plummeted nearly 10%, reaching an all-time low of $7 – a figure last seen on June 12. Consequently, Toncoin has experienced a decline of over 15% from its peak.
Despite the recent setback, supporters of Toncoin remain optimistic, looking forward to future progress and good news for the ecosystem and the coin.
Experts believe that the increasing Total Value Locked (TVL) and the imminent debut of TapSwap, a widely-used Telegram tapping-for-rewards platform, have the potential to significantly boost Toncoin’s value.
TapSwap is a Telegram mini-app where users can earn rewards by tapping, boasting over 26 million followers on various social media platforms. According to the app’s creators, they opted for Toncoin due to its quick processing times and economical transaction fees.
TapSwapAI, a popular Telegram Mini App with approximately 26 million social media followers and the innovative “Tap-to-Earn” feature, is set to debut on The Open Network (TON)! Launched on February 15, 2024, this app has experienced exponential growth. Users can earn in-game tokens simply by tapping and completing various missions and tasks. Currently, it boasts over 50 million global users.— TON 💎 (@ton_blockchain) June 18, 2024
The TON blockchain has recently welcomed an intriguing new project called Simple-Ton. This venture aspires for significant growth within the TON ecosystem. Inspired by the popular SpongeBob universe, Simple-Ton Coin utilizes the Jetton Smart Contract to offer an enjoyable experience to its followers.
As a researcher studying the Simple-Ton project, I can explain that in order to uphold transparency and security, the Simple-Ton team has implemented two measures for safeguarding the Simple-Ton Coin. The initial method is referred to as Renounced Ownership. In simpler terms, this means that the ownership of the contract has been relinquished, preventing any individual or entity from having the power to modify or manipulate it.
Next, the team has drained their liquidity reserve to mitigate the danger of exit scams and ensure a safe marketplace for traders.
As a researcher studying the memecoin market on the TON blockchain, I’ve noticed an intriguing resemblance between Simple-Ton’s recent surge in popularity and Resistance Dog (REDO)’s impressive growth. With a market capitalization of $109.76 million and daily trading volume of $5.74 million, REDO has experienced significant expansion over the last week, capturing the interest of both novice and seasoned investors alike.
Using a natural and easy-to-read paraphrase, Simple-Ton is progressing steadily with its existing strategy and strong security features, working towards significant expansion. Yet, the future of this initiative is uncertain.
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2024-06-20 10:04