Toncoin price rallies as TON flips Avalanche, Polygon on key metric

As a researcher with a background in blockchain technology and cryptocurrency, I’ve been closely monitoring the Toncoin market for some time now. And I must say, the recent price surge and ecosystem growth are truly impressive.

The price of Toncoin is gradually approaching its peak value, fueled by the expansion of its thriving ecosystem and heightened user interest.

On Tuesday, TON reached a peak of $8.10, just shy of its record-high price of $8.30. This represents a remarkable increase of nearly 800% from its rock-bottom value in 2023. As a result, the token’s worth now hovers around the $20 billion mark.

Toncoin price rallies as TON flips Avalanche, Polygon on key metric

Toncoin price chart

TON flips Avalanche in DeFi

The TON system is experiencing significant expansion in numerous areas, drawing large numbers of users at an impressive rate. In a relatively short period, it has transformed into a major force in the world of Decentralized Finance (DeFi).

According to data from DeFi Llama, the total value locked within the decentralized finance (DeFi) network has surged by approximately 70% within the last month, reaching beyond $1.13 billion.

The surge in size has propelled it to rank eighth among the prominent blockchains, surpassing the likes of Avalanche with its $1.11 billion assets, as well as Polygon, Optimism, Sui, Cronos, and Near.

As a crypto investor closely following the TON blockchain ecosystem, I’ve noticed an impressive surge in activity among various dApps over the past month. DeDust, for instance, has experienced a remarkable growth in Total Value Locked (TVL), which has nearly tripled to surpass $375 million. Similarly,, Tonstakers, bemo, and Stakee have all reported significant gains, exceeding 30% increase each.

As a researcher studying the cryptocurrency market, I’ve observed an increasing trend towards staking Toncoin. According to StakingRewards, the market capitalization of Toncoin’s staking sector has surged to a impressive $4.7 billion, positioning it as the ninth most staked token in the industry.

Tap-to-earn growth accelerates

The Toncoin price has also soared as investors cheer the performance of the tap-to-earn ecosystem. 

In simple terms, Notcoin, the globally accessible tap-to-earn platform with publicly traded status, boasts a market capitalization surpassing $1.4 billion. Meanwhile, user base of TapSwap, another rapidly expanding game, has exceeded 60 million individuals from various parts of the world.

Hamster Combat, the game connected to Russia, is setting new benchmarks in the gaming industry with a staggering user base of over 200 million. Impressively, its YouTube platform has shattered previous records by amassing over 30 million subscribers within a single month. The view count on these videos has surpassed an astounding 500 million.

As a researcher studying the trending topic of tap-to-earn platforms, I’ve come across several promising projects such as AvaCoin, DotCoin, and YesCoin. These platforms have experienced significant growth due to their user-friendly interfaces and potential for substantial rewards post airdrop.

In the end, all tap-to-earn platforms will unveil their airdrops on the TON Blockchain, resulting in heightened activity. Nevertheless, Toncoin’s growth is subject to risk due to its low trading volume. The data indicates that its daily trading volume has been insignificant for an extended period, remaining under $800 million since June 15th. This is a minuscule volume for a $20 billion token when compared to smaller tokens like Pepe and Doge, which see more substantial daily volumes.

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2024-07-02 17:28