- The price of Ton coin is steadily rising due to strong ecosystem expansion and consumer demand.
Tuesday saw TON rise to $8.10, a few points behind the record high of $8.30. From its lowest point in 2023, it has increased by about 800%, valuing it at nearly $20 billion.
In DeFi, TON flips Avalanche
The TON ecosystem is expanding rapidly in a number of sectors. In a short period of time, it has become incredibly popular and has developed into one of the major participants in decentralized finance (DeFi).
The network’s total value locked (TVL) in the ecosystem has increased by 70% in the last 30 days to exceed $1.13 billion, according to data gathered by DeFi Llama.
With this growth, it is now the eighth-largest blockchain in terms of size, behind Base, Blast, Ethereum, Solana, Tron, Binance, and Arbitrum. It has traversed several of the industry’s most well-known platforms. It passed Avalanche, which has $1.11 billion in assets, on Tuesday. Additionally, it has surpassed blockchains like as Near, Cronos, Optimism, Sui, and Polygon.
The last 30 days have witnessed a lot of movement for the majority of dApps in TON’s ecosystem. Amidst a surge of over 30% in STON.fi, Tonstakers, bemo, and Stakee, DeDust’s TVL has increased by nearly 300% to over $375 million.
Toncoin has grown in popularity as a token for staking. Its staking market cap has increased to $4.7 billion, according to data gathered by StakingRewards, placing it as the ninth most staked token in the sector.
Growth via tap-to-earn accelerates
As investors applaud the tap-to-earn ecosystem’s performance, the price of Toncoin has also surged.
The market capitalization of Notcoin, the sole publicly listed tap-to-earn platform, has surpassed $1.4 billion. Another quickly expanding game, TapSwap, has amassed over 60 million global players.
With more than 200 million players, the Russian-affiliated game Hamster Kombat is currently the one with the quickest rate of growth in the market. With more than 30 million followers in just one month, its YouTube channel is smashing previous records. Watches of its videos have exceeded 500 million.
Due to its user-friendliness and the possibility of substantial rewards following their airdrop, other tap-to-earn platforms such as AvaCoin, DotCoin, and YesCoin are also experiencing rapid growth.
In the end, all of these tap-to-earn networks will airdrop on the TON Blockchain, increasing activity.Still, Toncoin’s rise is subject to volume risk. Data indicates that it has long had a cap on its daily volume. Since June 15th, it has stayed below $800 million. Given that smaller tokens like Pepe and Dogwifhat get higher daily volume, that is a very little volume for a $20 billion coin.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
