According to the data today, the total locked value (TVL) of the public chain TON has exceeded 260 million US dollars, with a growth rate of 415% in the past 60 days.
Previously:
TON Ecology Overview: 19 tracks covering Staking, DEX, Wallet, Launchpad, NFT.
Background:
Pantera Partner: Why do we invest in the TON network? What is the unknown potential?
According to the latest data from DefiLlama, as of May 12th, the total locked value (TVL) of the dark horse public chain The Open Network (TON) has exceeded 260 million US dollars, currently reaching 268 million US dollars. Since May, TVL on TON has grown by 71.2%, and the growth rate in the past 60 days has reached 415%.
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Key factors driving TVL growth are the main liquidity staking and trading protocols on the TON ecosystem, including Tonstakers, DEX protocol STON.fi, and liquidity staking protocol bemo. The weekly growth rates of these protocols are 18%, 46%, and 20.8% respectively.
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In the past two months, TON has indeed received many heavyweight news and collaborations. Telegram founder Durov announced on April 19th that he had reached a collaboration with the leading stablecoin issuer Tether, and launched the native USDt token on The Open Network (TON) starting from April 20th. After this news, the price of TON once again reached a high of $6.9.
Further reading:
Breaking News: Airdrop of $70 million! Telegram founder: TON version of USDT online, “USDt Earn” revenue feature launched.
Durov also announced the introduction of up to 11 million eco-incentive airdrops to encourage users to participate in the USDt ecosystem, such as the built-in USDt Earn feature in Telegram, providing liquidity, and using centralized exchanges of partner institutions to earn rewards.
On the other hand, two major exchanges recently announced the launch of a new coin mining project called Notcoin. Because it is a Telegram mining game based on the TON blockchain, it once again attracted market attention to TON. In addition, OKX’s Jumpstart event is limited to TON spot holders, which may have an impact on the relative strength of TON in the market.
Further reading:
Telegram game Notcoin listed on Binance and OKX “New Coin Mining”, TON jumps 10%, market value surpasses Dogecoin again.
Pantera Capital: TON is the largest investment in history
Not only in terms of ecology, TON has also gained considerable exposure and progress in financing. Dan Morehead, founder of Pantera Capital, which manages over $5 billion in funds, stated on May 10th that Pantera Capital’s investment in TON is the largest in the history of the fund. Although the specific amount was not disclosed, it shows confidence in TON.
Previously, Paul Veradittakit, managing partner of Pantera Capital, explained why Pantera invested in TON in a post on the 2nd. He explained that Telegram has over 900 million monthly active users and believes that TON has the potential to become one of the largest cryptocurrency networks by leveraging Telegram’s huge user base, seamless user experience, and the vitality of the emerging TON ecosystem.
In terms of price, TON remains strong compared to other mainstream currencies, with a 20% increase in the past week, reaching $7 at the time of submission, once again attempting to break the historical high of $7.2.
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