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The TON Network continues to advance swiftly with the support of Tether (USDT). A partnership signed between the two companies in April has shown a positive growth trend. According to CryptoQuant data, the USDT supply on the TON Network has officially surpassed 1 billion dollars.
Tether USDT and TON Network
Tether and TON dominate their respective markets. While Tether issues the largest stablecoin in the sector, TON Network supports next-generation decentralized applications (DApps) on Telegram.
According to CryptoQuant, the USDT supply on TON has grown by 670% in the last six months. In May, the stablecoin’s value on the protocol stood at 130 million dollars, but today the locked USDT amount has reached 1.02 billion dollars.
The amount of USDT on the TON Network increased from 130 million dollars in May 2024 to 1.02 billion dollars in just six months.
This surge is fueled by growth in the Decentralized Finance (DeFi) ecosystem. According to DeFiLlama data, the Total Value Locked (TVL) currently stands at 720 million dollars.
Telegram Ecosystem
Part of TON Network’s success over the past year is linked to Telegram mini-apps.
Projects ranging from Notcoin to Catizen and Hamster Combat have generated significant capital movement on the network. While many of these projects have achieved great success, some, like Hamster Combat, disappointed the community with their airdrops.
Although many believe the T2E era has ended, the evolution of these games may help TON’s growth in the long run. As of the time of writing, the coin was trading at 4.78 dollars.
In conclusion, the partnership between TON Network and Tether supports the rapid growth of USDT. Developments in the DeFi ecosystem and new fiat integrations may contribute to increased liquidity in the future. Additionally, the contributions of Telegram mini-games could further strengthen the TON ecosystem over the long term.
