Play-to-Earn Video games and DeFi Gas TON Blockchain’s Rise

• TON blockchain’s TVL skyrocketed to $609.78M, doubling in three weeks, pushed by rising curiosity in its protocols.
• Integration with Telegram and play-to-earn mini-games considerably enhance TON blockchain’s recognition and adoption.
• Regardless of Toncoin’s bullish momentum, cybersecurity dangers and potential worth correction because of overbought alerts stay.

The Open Community (TON) blockchain’s Complete Worth Locked (TVL) has doubled in simply three weeks, reaching $608.65 million, signaling a surge in curiosity and funding within the Telegram-backed mission, in keeping with DefiLlama knowledge. The fast progress highlights the rising curiosity and funding in TON-based protocols.

A number of prime protocols on the TON blockchain have skilled vital progress over the previous week. DeDust, a decentralized change liquidity pool, noticed a 50.20% surge in TVL, reaching almost $300 million. Smaller protocols corresponding to bemo, Stakee, and EVAA additionally noticed double-digit progress throughout this era, demonstrating the general optimistic momentum throughout the TON ecosystem.

TON blockchain has been gaining traction as Telegram’s most well-liked answer for Web3 integration. Telegram, a broadly used messaging platform with over 900 million customers, supplies an enormous potential consumer base for TON. This consumer base is roughly 100 instances bigger than the present on-chain consumer base of all different blockchains mixed, providing a robust basis for a thriving ecosystem.

The mixing of TON with Telegram has led to the recognition of assorted play-to-earn mini-games throughout the messaging app. Easy, token-rewarding video games corresponding to Notcoin, Yescoin, and Hamster Kombat have considerably boosted the community’s recognition. 

Moreover, Telegram lately launched a digital mini-app fee system known as Telegram Stars. This technique presents app builders decrease promotion charges in comparison with conventional platforms just like the Apple and Google app shops.

Nevertheless, the rise of TON utilization has not gone unnoticed by hackers and different malicious customers. Cybersecurity agency Kaspersky studies that criminals are using Telegram and Toncoin, TON’s native foreign money, to launch a pyramid scheme for crypto.

Toncoin/USD 1-day worth chart, Supply: Buying and selling view

At the moment, the dwell worth of Toncoin is $7.77, with a 24-hour buying and selling quantity of $293,081,917. Regardless of being down 0.57% within the final 24 hours, Toncoin exhibits sturdy bullish momentum. The 1-day Relative Power Index (RSI) reads 73.78, indicating that the asset could also be overbought within the quick time period, doubtlessly resulting in a worth correction. Nevertheless, the 1-day Transferring Common Convergence Divergence (MACD) buying and selling above the sign line suggests sturdy bullish momentum in Toncoin’s worth motion.