TON Blockchain Hits $610M TVL Record

Posted by BH NEWS 5 months ago

The TON Blockchain has achieved a new milestone, with its total value locked (TVL) surpassing $610 million. According to data from DefiLlama, this significant leap occurred just three weeks after its TVL was noted at $300 million, reflecting a rapid surge in network adoption and usage.

Contents hide
1 What Drives TON Blockchain’s Growth?
2 How Are Recent Developments Boosting TON?
2.1 Key Takeaways from TON’s Adoption

What Drives TON Blockchain’s Growth?

The impressive growth of the TON Blockchain is closely linked to its integration with Telegram, a globally popular messaging app boasting over 900 million users. This integration has provided a robust user base, paving the way for a thriving ecosystem of decentralized applications (dApps) and protocols.

In the past week, many of the top 10 protocols on the TON Blockchain have experienced notable TVL growth. For instance, the DeDust liquidity pool saw a remarkable 53% increase, reaching about $300 million. Similarly, smaller protocols like Bemo, Stakee, and EVAA reported double-digit growth, hinting at a broader adoption of the Blockchain.

How Are Recent Developments Boosting TON?

Recent advancements, such as the launch of a digital mini-app payment system named Telegram Stars, have further bolstered sentiment towards the TON Blockchain. By offering lower promotional fees to app developers compared to giants like Apple’s App Store and Google’s Google Play, the system incentivizes more developers to create applications on the TON Blockchain.

Key Takeaways from TON’s Adoption

  • The integration with Telegram has significantly expanded the user base for TON Blockchain.
  • Top protocols on the network, like DeDust, are showing substantial TVL growth.
  • New developments such as Telegram Stars lower entry barriers for app developers.
  • Cybersecurity remains a concern, with recent scams targeting TON users.

Despite these positive developments, the rise in popularity has made the TON Blockchain a target for cybercriminals. Scammers have exploited the messaging app and TON’s mainnet asset, Toncoin, to orchestrate pyramid schemes aimed at cryptocurrency users. This underscores the need for vigilance and caution in the cryptocurrency market.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.