Blockchain
TON exceeds 10% of Bitcoin’s daily volume
2h00 ▪ 4 minute read ▪ by Evans S.
The Open Network (TON), a layer 1 decentralized blockchain, recently reached an impressive milestone: its daily transfer volume now represents 10% of that of the flagship cryptocurrency (Bitcoin). With explosive growth and constantly 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 increase in TON indicators
The rise of the TON cryptocurrency is not accidental. Various factors contributed this wave of power. Firstly, the introduction of a Toncoin-based economy within the Telegram app played a crucial role.
Telegram, 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 pushed transaction volumes to unprecedented levels.
Additionally, the launch of the Open League program in early April has amplified 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 strengthened the loyalty of current users but also attracted new investors.
Finally, the presence of decentralized exchanges such as Ston.fi and Dedust, as well as liquid staking projects such as 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 strong position in the market.
TVL’s turning point
One of the most significant indicators of TON’s success is undoubtedly its TVL, which doubled in three weeks to reach a record high of $605 million.
This spectacular leap reflects increased investor confidence and growing adoption of the TON blockchain. By comparison, TON’s TVL stood at $300 million at the end of May, 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 liquid staking mechanisms have attracted an increasing number of participants, contributing to the dramatic increase 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 owners grew 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, TON fluctuates between $5 and 10 billion per day.
This performance, while only representing 10% of Bitcoin’s volume, is notable for a relatively young blockchain.
This comparison not only highlights TON’s ability to compete with giants like Bitcoin, but also its future growth potential.
The speed with which TON has reached this milestone is a testament to its innovation and growing interest for users and investors.
At the same time, TON’s solid infrastructure and innovative solutions, such as decentralized exchanges and liquid staking projects, have created a dynamic and attractive ecosystem.
These differentiators position the TON cryptocurrency as a viable and competitive alternative to Bitcoin and other established cryptocurrencies.
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Evans S.
Fascinated by bitcoin since 2017, Evariste has not stopped researching on the topic. If his main interest is in trading, the sage is desperate to discover all the advanced centers on cryptocurrencies. As an editor, he aspires to consistently provide high-quality work that reflects the state of the industry as a whole.
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be relied upon as investment advice. Do your research before making any investment decisions.