TON Network TVL Exceeds $500M As Toncoin Gains 9%

Key Points: 

• TON ecosystem’s Total Value Locked (TVL) surpasses $500 million.
• Toncoin’s value increases by 8.53% with a 40% rise in trading volume.

TON network TVL crossed $500M, a major increase from $22.9M in March ’24, which is a 300% rise in the last 30 days, indicating growing trust and investment.

The Total Value Locked of the TON ecosystem has crossed a new threshold and now stands at more than $500 million, having remarkably increased from the earlier value of $22.9 million registered by March 2024.

This increase, therefore, constitutes something symbolically significant for the ecosystem of TON, and such a jump in TVL signals that more assets will be locked into the ecosystem of the project and that the trust and participation of users will increase.

Significant Increase in TON Network TVL

Added to this is the fact that the TVL value of TON has risen by over 300% last 30 days. The native token of the TON chain, TON, is promising steady expansion as new investors come to the platform.

According to DeFiLlama, decentralized exchanges—including Ston.fi and Dedust, along with a myriad of liquid staking projects, like Tonstakers and Bemo—have been receiving growing positive attention.

The TON network ecosystem has managed to attract many developers and investors, primarily due to its affiliation with the largest social media platform, Telegram.

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Toncoin’s Consistent Growth Despite Market Downturn

Fresh numbers report that Toncoin has risen currently by 8.53% to $7.5. Despite showing the market’s general downturn, the capitalization of Toncoin still remains above the $18.5 billion, which ranks ninth in the world. The trading volume of Toncoin has leaped by 40%, now standing at $472 million in the last 24 hours.

As shown by CoinMarketCap, the highest point and peak for the Toncoin were $7.78 on June 5, 2024. Just higher by 4.3% of the price now.

There were other great victories that TON achieved. In November 2023, the TON became the fastest blockchain around the world, with 104,715 transactions per second. And a month earlier, the TON sneaked its way into the top 10 largest crypto coins in the world valued at $20.8B of market cap.