TON Blockchain Crosses $300 Million in Total Value Locked
TON Blockchain has reached a significant milestone by crossing $300 million in total value locked (TVL) for the first time.
2/ In just 1 month:
— TON 💎 (@ton_blockchain) May 27, 2024
- 316M $USDt in circulation
- 160M $USDt in use on TON apps
People will look back on this moment. As the moment when mass adoption of freedom tech truly began.
Start using USDt-TON! ⬇️https://t.co/Jq9zeesY9g
DeFiLlama data shows that TVL in TON has increased dramatically since the start of this incentive program, rising from $23 million at the beginning of March to its current value of $315 million. The Open Network (TON) has experienced incredible tenfold growth since the beginning of March, with liquid staking projects like Tonstakers and Bemo, along with decentralized exchanges like Ston.fi and Dedust, being the main drivers of TVL's explosive growth.
Given the recent attention that the Layer 1 blockchain has received, Pantera Capital, an asset manager that currently manages over $5 billion worth of assets, has decided to invest in the TON blockchain. In February, Telegram revealed its intentions to distribute ad revenue to channel owners and award them with Toncoin (TON) tokens.
Recently, Telegram put that plan into action by enabling users to buy in-platform advertisements with TON. According to Pantera Capital, Telegram's massive reach of more than 900 million monthly active users and over 1 trillion channel views each month could lead to the widespread adoption of cryptocurrencies. Notcoin, the famous click game modeled after the Telegram Mini Application, created 1,000,000 new wallets for the duration of its token introduction exercise.
Telegram Mini Apps are small applications that are part of the Telegram messaging service that let users engage with different services without ever leaving the app.
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