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- USDT on TON reaches 519.28 million, fueled by rising demand for straightforward transactions.
- TON’s TVL doubles in a month to $670 million; companions with Symbiosis for DeFi.
- Toncoin’s market cap hits $18.5 billion, up 419% YTD; trades at $7.47.
Tether’s USDT stablecoin has exceeded 500 million in circulation on the TON blockchain, signaling a surge in demand for dollar-pegged digital property on the quickly rising community.
TON introduced this information on its official Telegram channel, stating:
“The demand for USDT-TON is hovering, and it’s not stunning. The flexibility to ship digital {dollars} to anybody, wherever, as simply as sending a textual content message, is a sensible and real-world use case that units USDT-TON aside.”
USDT-TON’s debut generated important market hype after reaching a circulation milestone of 200 million weeks after its launch. Two months in the past, the stablecoin issuer Tether launched the US Greenback-pegged stablecoin alongside a gold-backed token, XAUT, on the TON community.
The partnership was designed to permit Telegram’s 900 million customers to conduct Peer-to-Peer (P2P) funds on the TON blockchain utilizing USDT and XAUT. TON assured customers that transactions could be quick and easy, just like sending a Telegram textual content.
The TON blockchain just lately achieved a major milestone, surpassing $600 million in Complete Worth Locked (TVL). In line with DefiLlama information, TON’s TVL is at the moment $670 million, greater than double the determine from final month.
Tether has seen important adoption this yr, turning into Telegram’s most popular Web3 integration community.
Furthermore, the TON community’s rise coincides with the elevated reputation of crypto “play-to-earn” video games on Telegram. Mini-playable video games, akin to Hamster Kombat, Dotcoin, and Catizen, permit customers to earn in-game currencies that may probably be transformed to actual tokens by way of airdrops.
Toncoin (TON), the native token of the TON blockchain, has gained 419% year-to-date. The cryptocurrency’s market capitalization is at the moment $18.5 billion, making it the ninth-largest cryptocurrency on the earth. Toncoin was buying and selling at $7.47 as of press time, reflecting a 1.33% intraday lower.
In the meantime, TON just lately expanded its DeFi integration by partnering with cross-chain engine and liquidity protocol Symbiosis. Consequently, customers can now “execute seamless swaps” between TON and different networks.
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