Bitcoin
TON exceeds 10% of daily Bitcoin volume
2h00 ▪ 4 min reading ▪ by Evans S.
Open Network (TON), a tier-1 decentralized blockchain, recently reached an impressive milestone: its daily transfer volume now represents 10% of that of the leading cryptocurrency (Bitcoin). With explosive growth and ever-increasing indicators, TON is positioning itself as a major player in the crypto ecosystem. Let’s take a closer look at this meteoric rise.
The rise of TON indicators
The rise of TON crypto is no coincidence. Several factors contributed to this increase in power. Firstly, the introduction of a Toncoin-based economy within the Telegram app played a crucial role.
Telegram, by integrating an advertising system that pays channels up to 50% in TON, has attracted an unprecedented wave of new users to the TON blockchain. This massive influx has driven transaction volumes to unprecedented levels.
Furthermore, the launch of the Open League program in early April added to this enthusiasm. This long-term incentive program plans to distribute 30 million TON, worth approximately $188 million, to community members through airdrops, missions, and liquidity pools on the network’s decentralized exchanges.
An initiative that not only reinforced the loyalty of current users but also attracted new investors.
Finally, the presence of decentralized exchange platforms like Ston.fi and Dedust, as well as liquid staking projects like Tonstakers and Bemo, has seen significant growth in TVL (Total Value Locked) in recent weeks.
This increase in TVL demonstrates investors’ growing confidence in the TON ecosystem, further consolidating its position of strength in the market.
The discovery of TVL
One of the most revealing indicators of TON’s success is, without a doubt, its TVL, which doubled in three weeks, reaching an all-time high of 605 million dollars.
This spectacular leap reflects increased investor confidence and growing adoption of the TON blockchain. In comparison, TON’s TVL was $300 million at the end of May, before rising to $620 million at the time of writing.
This rapid increase in TVL can be attributed to investors’ attraction to the decentralized finance (DeFi) solutions offered by TON. In particular, liquidity pools and net participation mechanisms have attracted an increasing number of participants, contributing to the spike in locked values.
The exponential increase in the number of Toncoin (TON) holders is another indicator of this growing popularity. In one year, the number of holders rose from 2.9 million to 32 million, highlighting rapid adoption and growing community involvement.
Comparison with Bitcoin: a new era for TON
Compared to Bitcoin, TON’s daily transfer volume is particularly impressive. While Bitcoin has an average daily transfer volume of 50 billion dollars, TON fluctuates between 5 and 10 billion dollars per day.
This performance, although it only represents 10% of Bitcoin’s volume, is remarkable for a relatively young blockchain.
This comparison not only highlights TON’s ability to compete with giants like Bitcoin, but also its potential for future growth.
The speed with which TON reached this milestone is a testament to its innovation and growing appeal to users and investors.
At the same time, TON’s robust infrastructure and innovative solutions, such as decentralized exchanges and liquid staking projects, have created a dynamic and attractive ecosystem.
These differentiating elements position TON crypto as a viable and competitive alternative to Bitcoin and other established cryptocurrencies.
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Evans S.
Fascinated by bitcoin since 2017, Evariste was unable to document the subject. If the first interest is in trading, the unfortunate attempt to capture all the advances centered on cryptocurrencies. As a writer, he aspires to continually provide high-quality work that reflects the state of the industry as a whole.
DISCLAIMER
The views, thoughts and opinions expressed in this article belong solely to the author and should not be considered investment advice. Do your own research before making any investment decisions.