Toncoin

Million

Billion

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ton-blockchain-surpasses-300-million-in-total-value-locked/" data-wpel-link="internal">TON Blockchain Surpasses $300 Million in Total Value Locked</a><br></p>
<p style="text-align: justify">The Open Network (<strong>TON</strong>) Blockchain achieved a major milestone by surpassing $300 million in total value locked (TVL) for the first time. TVL, which has increased more than tenfold since the beginning of March, shows that TON is rapidly growing and becoming a significant player in the decentralized finance (DeFi) world. This increase was driven by various applications such as decentralized exchanges and liquid staking projects. Projects like Ston.fi, Dedust, Tonstakers, and bemo were among the main applications contributing to the TON ecosystem.</p> 
<h2 style="text-align: justify" id="factors-behind-ton-s-success">Factors Behind TON’s Success</h2> 
<p style="text-align: justify">One of the key factors behind TON’s success is an ongoing initiative known as The Open League. This ecosystem initiative incentivized participation by rewarding users of TON’s best decentralized applications, increasing the overall value of the network.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-355990 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/ton-6.png" alt="" width="469" height="387"></p> 
<p style="text-align: justify">According to DeFiLlama data, since the launch of this incentive program, TVL in TON has skyrocketed from $23 million at the beginning of March to its current value of $315 million. This growth highlighted how attractive the opportunities and user experience offered by TON are.</p> 
<h2 style="text-align: justify" id="1-million-new-wallets-added">1 Million New Wallets Added</h2> 
<p style="text-align: justify">Additionally, the creation of 1 million new wallets during the token creation event for Notcoin, a popular click <a href="https://newslinker.co/category/gaming/" target="_blank" rel="noopener" data-wpel-link="exclude">game</a> designed as a <strong>Telegram</strong> Mini Application, further proved the network’s growth. This demonstrated the robustness of TON’s architecture, which managed increased activity without network outages, higher fees, or transaction delays. Telegram Mini Applications integrated into the Telegram messaging platform allowed users to seamlessly interact with various services within the app.</p> 
<p style="text-align: justify">TON’s journey began in 2018 as a Blockchain project initiated by Telegram, a leading messaging platform that raised $1.7 billion through two private token sales. However, the mainnet launch was delayed due to a legal dispute with the U.S. Securities and Exchange Commission over unregistered securities offerings.</p> 
<p style="text-align: justify">In response to these challenges, community members founded the Ton Foundation, which continued active development and launched The Open Network in 2021. Since then, TON has continued to evolve, and Telegram has leveraged the network for initiatives such as revenue sharing with channel owners.</p> 
<h2 style="text-align: justify" id="toncoin-reaches-22-billion-market-cap">Toncoin Reaches $22 Billion Market Cap</h2> 
<p style="text-align: justify">TON Blockchain’s <a href="https://en.coin-turk.com/federal-reserve-keeps-interest-rates-unchanged-crypto-investors-await-next-moves/" data-wpel-link="internal">cryptocurrency</a>, <strong>Toncoin</strong>, is currently trading at $6.37 and has a market cap of $22 billion with a fully diluted valuation of $32 billion.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-355989 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/TONUSDT_2024-05-27_08-16-53.png" alt="" width="1814" height="798"></p> 
<p style="text-align: justify">The latest financial support for TON came from <strong>Pantera</strong>, one of the oldest venture funds in the cryptocurrency sector, which announced its largest <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investment</a> in the network to date.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ton-blockchain-surpasses-300-million-in-total-value-locked/" data-wpel-link="internal">TON Blockchain Surpasses $300 Million in Total Value Locked</a></h5>

TON Blockchain Surpasses $300 Million in Total Value Locked

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