Telegram-Linked TON Blockchain Soars Above $610M in TVL

Blockonomics
Graph showing the growth of TON Blockchain's TVL surpassing $610M
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Telegram-Linked TON Blockchain Soars Above $610M in TVL

This event indicates the distributed finance (DeFi) systems’ extraordinary performance and underscores the growth of the Open Network (TON) blockchain, with a total locked value of more than $610 million as of Monday, as reported by DeFiLlama data. DeFi was the topic of this statement by the total locked value (TVL) of decentralized finance (DeFi) trading platforms surpassing $610 million through Monday, as reported by DefiiLama. This achievement is a clear sign of the decentralized finance (DeFi) ecosystem’s steady growth and confirms that TON’s recent performance has been impressive and consistent.

As a result of TON’s TVL rise, the most significant feature of this blockchain, with its $610m of total value locked (TVL), is that it is being linked with the popular messaging and communication platform Telegram, which has over 900 million active users from all over the world. As a result of this merger, TON is now much more accessible and well-known among the users, which in turn leads to rather remarkable growth.

There has also been a rise in the use of play-to-earn mini-games such as Notcoin and Yescoin, and this has added an extra layer of success to the TON blockchain ecosystem. The app has released the Telegram Stars in-app digital payment solution connected the TON blockchain, which allows the user to make in-app payments via the blockchain securely.

To add to the popularity of TON, Telegram has been launching more and more mini-apps with over a million people signing up every day. One of the miniature games that is gaining a lot of popularity is Hamster Kombat and it is attracting the interest of many people.

Several aspects have been defined by market observers as to why the TON blockchain became bullish. For example, Toncoin, the native token of the blockchain, now has a market capitalization of $19.05 billion, which is equal to the 9th position in the list of the biggest cryptocurrencies.

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Recent Developments

One month ago, the crypto venture capital company, Pantera Capital proclaimed its decision to invest in TON as a confirmation of the success of the system to penetrate the field of cryptocurrencies to a greater number of individuals. Additionally, the USDT stablecoin issuer Tether which is known for its reputation, made a deal with TON blockchain in 2021, and it has played an even more significant role in building its credibility and creating more utility applications.

Thus, the expansion of the network despite the challenges imposed by it are becoming popular has been a factor for the cautious attitude. Cybersecurity company Kaspersky told about this problem the other day, reporting the growth of the numbers of the ghastly diseases received by the TonCoin user group, which became a factor in the rise of scams and fraud schemes: “super-secret awesome bots” and referral links as methods to earn Toncoin.

The TON blockchain, set coins was leading $610 million worth of TVL in the last month to take notice of integrating Telegram and attracting users to the massive platform. Thus, the development of TON will not only be enforced by tech and non-tech partners, but its ecosystem, which is under a lot of pressure right now, will be another significant force driving growth in the nearest future and the blockchain’s capability of offering an innovative peer-to-peer financial network or other types of innovative financial products for the sake of riches and sustainability of projects in the space will both play a huge part in the game.

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