Million

Foundation

Status

<p><strong>The Open Network (TON) blockchain has reached a new milestone, with its total value locked (TVL) exceeding $300 million for the first time. This marks a remarkable tenfold increase since early March.</strong></p>
<h2 id="rapid-growth-in-tvl">Rapid Growth in TVL</h2>
<p>The surge in locked value is largely attributed to an ecosystem initiative known as The Open League. This program rewards users of <a href="https://cryptoticker.io/en/token/TON" rel="noopener noreferrer nofollow">TON</a>’s top decentralized applications, driving significant growth. According to DeFiLlama, the TVL skyrocketed from $23 million in early March to the current $315 million. Key contributors to this growth include decentralized exchanges like Ston.fi and Dedust, and liquid staking projects such as Tonstakers and bemo.</p>
<figure class="image"><img style="aspect-ratio:1536/572;" src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/TON_55aa4ac0b6.png" alt="TON.png" width="1536" height="572">
 <figcaption>
  Source: DefiLlama
 </figcaption>
</figure>
<h2 id="increasing-adoption">Increasing Adoption</h2>
<p><a href="https://cryptoticker.io/en/toncoin-price-prediction-will-toncoin-reach-10-may" rel="noopener noreferrer nofollow">TON</a>’s architecture demonstrated its robustness by supporting one million new wallets during the token generation event for <a href="https://cryptoticker.io/en/notcoin-launches-with-1-billion-valuation" rel="noopener noreferrer nofollow">Notcoin</a>, a popular clicker game integrated as a Telegram Mini App. Despite the high transaction volume, the network maintained stability, avoiding outages, increased fees, or processing delays.</p>
<h2 id="background-and-development">Background and Development</h2>
<p>Initially developed by Telegram, <a href="https://cryptoticker.io/en/toncoin-how-high-ton-price" rel="noopener noreferrer nofollow">TON</a> faced legal challenges with the U.S. SEC, halting its mainnet launch. However, the community-driven Ton Foundation revived the project, leading to the official launch of The Open Network in 2021. Since then, TON has continued to grow, with Telegram integrating it for various applications, including ad-revenue sharing.</p>
<h3 id="current-market-status">Current Market Status</h3>
<ul>
 <li><strong>Price</strong>: $6.44 (up 1.69% in the last 24 hours)</li>
 <li><strong>Market Cap</strong>: $22.39 billion (up 1.70%)</li>
 <li><strong>24h Volume</strong>: $139 million (up 23.86%)</li>
</ul>
<figure class="image"><img style="aspect-ratio:1713/676;" src="https://cryptoticker-strapi-media.s3.eu-central-1.amazonaws.com/TONCOINUSD_2024_05_27_22_53_38_1e5d0d8fe2.png" alt="TONCOINUSD_2024-05-27_22-53-38.png" width="1713" height="676">
 <figcaption>
  TON/USDT 1D - <a href="https://www.tradingview.com/symbols/TONUSD/?aff_id=127958" rel="noopener noreferrer nofollow">TRADINGVIEW</a>
 </figcaption>
</figure>
<h2 id="significant-investment">Significant Investment</h2>
<p>Pantera Capital, one of the oldest venture funds in the crypto space, recently announced its <a href="https://cryptoticker.io/en/token/TON" rel="noopener noreferrer nofollow">largest-ever investment</a> in TON, signaling strong confidence in its future.</p>
<p>Stay updated as TON continues to evolve and reach new heights in the blockchain ecosystem.</p>

TON Blockchain Achieves $300 Million in Total Value Locked

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