TON Blockchain Connected to Telegram Surges Past 610M in Total Value Locked

Telegram-Connected TON Blockchain Surpasses $610 Million in Total Value Locked
The TON blockchain belonging to Open Network has achieved a significant milestone in terms of Total Value Locked (TVL), exceeding $600 million as of Monday, as reported by DefiLlama data.
This achievement marks a crucial moment for the decentralized finance (DeFi) ecosystem, showcasing the recent strong performance of the platform. Notably, prominent protocols like DeDust, a decentralized exchange operating on TON, experienced a remarkable 53% increase, reaching nearly $300 million in TVL.
“Various protocols, ranging from established players like DeDust to emerging platforms like bemo and Stakee, have witnessed substantial boosts in TVL,” noted crypto technical analyst Kyle du Plessis on X.
TON’s Deep Connection with Telegram
The recent surge in TVL for TON can be attributed to its integration with the encrypted messaging platform Telegram. With a massive user base of 900 million worldwide, Telegram has made TON more accessible to users.
Furthermore, Telegram’s introduction of play-to-earn mini-games such as Notcoin and Yescoin has contributed to the growth of TON’s ecosystem. The launch of Telegram Stars, a TON-linked in-app digital payment solution, further enhances user engagement by enabling in-app purchases.
Another significant factor driving TON’s success is the increasing popularity of mini apps on Telegram, with millions of users joining daily. One noteworthy mini app gaining traction on Telegram is Hamster Kombat.
Rachael Lucas, a crypto analyst at Australian crypto exchange BTC Markets, emphasized the vast potential user base of Telegram, stating that it lays a strong foundation for a flourishing ecosystem, surpassing the current on-chain user base of all blockchains combined by 100 times.
Recent Advancements
Various factors have contributed to the positive sentiment surrounding the TON blockchain. For instance, the native token Toncoin currently holds a market capitalization of $19.05 billion, ranking 9th among the largest cryptocurrencies.
In addition, crypto VC Pantera Capital recently announced its investment in TON, recognizing the blockchain’s ability to introduce cryptocurrencies to a wider audience. Furthermore, the collaboration between USDT stablecoin issuer Tether and the TON blockchain in May has also fueled optimism.
However, the growing popularity of the TON blockchain has also attracted cybercriminals. In April, cybersecurity firm Kaspersky highlighted how scammers promote a “super-secret awesome bot” and referral links as a means to earn Toncoin.
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