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According to DefiLlama’s data, the total value locked (TVL) in the TON Blockchain has surpassed 600 million dollars, reaching a record level of approximately 610 million dollars. This significant growth occurred just three weeks after the network’s TVL was recorded at 300 million dollars, indicating a rapid increase in adoption and usage for the network.
Growth of TON Blockchain
The growth of the TON Blockchain is associated with its integration with Telegram, one of the world’s most used messaging applications with over 900 million users. The strong foundation of the messaging application provides a solid user base for the Blockchain, offering a thriving ecosystem for decentralized applications (dApps) and protocols.
Most of the top 10 protocols on the TON Blockchain have recorded significant growth in TVL over the past seven days. The TON-based decentralized exchange liquidity pool, DeDust, saw a 53% increase in TVL, reaching approximately 300 million dollars. Smaller protocols like Bemo, Stakee, and EVAA also experienced double-digit growth during the same period, indicating broader adoption of the Blockchain.
Telegram’s integration with the TON Blockchain has led to the popularity of play-to-earn mini-games within the messaging application. Games like Notcoin, Yescoin, and Hamster Kombat, which reward users with tokens, have further increased the network’s popularity and engagement.
Recent Developments in TON Support Blockchain Network Growth
Recent developments in TON, including the introduction of a digital mini-app payment system called Telegram Stars, have contributed to the rising sentiment around the Blockchain. The system offers lower promotional fees to app developers compared to traditional platforms like Apple‘s App Store and Google’s Google Play, making it more attractive for developers to build their applications on the TON Blockchain.
The increasing popularity has also made the TON Blockchain a target for cybercriminals. Scammers have reportedly used the messaging application and TON’s mainnet asset, Toncoin, to create a pyramid scheme targeting cryptocurrency users. This situation highlights the importance of being cautious and vigilant in the cryptocurrency market.
