The Open Network (TON), a level 1 decentralized blockchain, recently reached an impressive milestone: its daily transfer volume is now 10% of that of the leading cryptocurrency (Bitcoin). With dazzling growth and ever-increasing metrics, TON has positioned itself as a major player in the crypto ecosystem. Let’s take a closer look at this dizzying rise.
Jump in TON indicators
The rise of TON crypto is no accident. Various factors contributed to this increase in power. First, the introduction of a Toncoin-based economy in the Telegram app played a crucial role.
Telegram, by integrating an advertising system paying channels 50% in TON, attracted an unprecedented wave of new users to the TON blockchain. This huge influx has increased trading volume to unprecedented levels.
In addition, the launch of The Open League program in early April boosted this enthusiasm. This long-term incentive program plans to distribute 30 million TON, worth approximately $188 million, to community members through airdrops, quests, and liquidity funds on exchanges decentralized by the network.
An initiative that not only strengthened the loyalty of current users, but also attracted new investors.
Finally, the presence of decentralized exchange platforms such as Ston.fi and Dedust, as well as liquid projects such as Tonstakers and Bemo, have seen significant growth in TVL (Total Value Locked) in recent weeks.
This increase in TVL demonstrates the growing confidence of investors in the TON ecosystem, thereby consolidating its strong position in the market.
The breakthrough of TVL
Perhaps one of the most telling indicators of TON’s success is its TVL, which doubled within three weeks to reach an all-time high of $605 million.
This dramatic jump 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 growth of 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 surge 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 increased from 2.9 million to 32 million, highlighting the rapid adoption and growing community engagement.
Bitcoin Comparison: A New Era for TON
Compared to Bitcoin, the daily transfer volume of TON 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, despite representing only 10% of Bitcoin’s volume, is remarkable for a relatively young blockchain.
This comparison highlights not only TON’s ability to compete with giants like Bitcoin, but also its potential for future growth.
The speed with which TON has reached this milestone is a testament to its innovation and growing appeal among users and investors.
At the same time, TON’s stable 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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Fascinated by Bitcoin since 2017, Evariste continued to research the topic. If his first interest was in trading, now he is actively trying to understand all the achievements related to cryptocurrencies. As an editor, he strives to continually deliver high-quality work that reflects the state of the industry as a whole.
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The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Do your own research before making investment decisions.