Source

DeFi

Billion

The Open Network’s blockchain, TON, has surpassed $300 million in total value locked (TVL) for the first time, marking a remarkable tenfold increase since March. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
 <img decoding="async" width="1024" height="513" src="https://www.cryptotimes.io/wp-content/uploads/2024/05/TON-Blockchain-Hits-300M-TVL-Surges-10X-Since-March-1024x513.png" alt="TON Blockchain Hits $300M TVL &amp; Surges 10X Since March" class="wp-image-179391" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/05/TON-Blockchain-Hits-300M-TVL-Surges-10X-Since-March-1024x513.png 1024w, https://www.cryptotimes.io/wp-content/uploads/2024/05/TON-Blockchain-Hits-300M-TVL-Surges-10X-Since-March-800x401.png 800w, https://www.cryptotimes.io/wp-content/uploads/2024/05/TON-Blockchain-Hits-300M-TVL-Surges-10X-Since-March-768x385.png 768w, https://www.cryptotimes.io/wp-content/uploads/2024/05/TON-Blockchain-Hits-300M-TVL-Surges-10X-Since-March-860x431.png 860w, https://www.cryptotimes.io/wp-content/uploads/2024/05/TON-Blockchain-Hits-300M-TVL-Surges-10X-Since-March.png 1037w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 DefiLlama : Source
 </figcaption>
 </figure>
</div> 
The Open League initiative drives the surge, rewarding users of top decentralized apps, as <a href="https://defillama.com/chain/TON" target="_blank" rel="noreferrer noopener">DeFiLlama</a> data reveals TVL skyrocketing from $23 million to $317.48 million, propelled by decentralized exchanges like Ston.fi and Dedust, and liquid staking projects like Tonstakers and Bemo. 
Notably, the network welcomed 1 million wallets during the token generation event for Notcoin, a popular Telegram Mini App game. The network’s architecture ensures smooth transactions without interruptions or delays. 
Originally a project by Telegram, The Open Network overcame legal obstacles to launch in 2021. Its native token, Toncoin, trades at $6.4 with a market cap of $22 billion. Pantera, a prominent venture fund, recently made its largest-ever investment in TON.&nbsp; 
This growth underscores TON’s significance in the blockchain space and its alignment with Telegram’s ecosystem expansion goals. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/19/defi-tvl-hits-94-974b-with-11-89b-increase/" target="_blank" rel="noreferrer noopener">DeFi TVL Skyrockets to $94.97 Billion, Surging by $11.89 Billion</a> 
</blockquote>

TON Blockchain Hits $300M TVL & Surges Tenfold Since March

The Crypto Times

Other articles published on May 27, 2024

Spot Ether ETFs are now officially legal in the US: Law Decoded

Vivatech: The triumphant return of King Moulla before Memecon

AI Homework Apps Challenge US Tutors

Top Cryptos to Buy Under $2 To Make Millions

Will Ethereum surge to $4.5K before ETH ETFs go live?

DeFi Blue Chips: Which Tokens Doubled Their Volumes After Ethereum ETF Approval?

Join our free newsletter for daily crypto updates!