TON Network & Telegram Record $610 Million TVL

Bittime - TON Network (The Open Network) and Telegram made a brilliant achievement by recording a Total Value Locked (TVL) of $610 million. 

These numbers demonstrate rapid growth in the TON ecosystem, signaling significant progress in decentralization and Web3 adoption.

TON & Telegram Achievements in the Financial Realm

The TON and Telegram networks have made brilliant achievements in the realm of decentralized finance (DeFi).

Total Value Locked (TVL) on the TON blockchain reached over $600 million, marking a significant milestone for this fast-growing DeFi ecosystem.

source: Medium 

Data from DefiLlama shows this significant surge, driven by the strong performance of leading DeFi protocols on TON. 

One example is DeDust, the platform's leading decentralized exchange, which saw its TVL increase by 53%, reaching nearly $300 million.

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The Close Relationship Between TON and Telegram Is Getting Stronger

TON's recent surge in Total Value Locked (TVL) cannot be separated from its blockchain integration with encrypted messaging platform Telegram.

With Telegram's global user base reaching 900 million, access to TON has become easier and more open to a wider audience.

Source: Bitcoin.com 

Furthermore, the popularity of play-to-earn mini-games on Telegram, such as Notcoin and Yescoin, has contributed to the enrichment of the TON blockchain ecosystem.

Recently, the messaging giant launched Telegram Stars, an in-app digital payments solution connected to TON, allowing users to make in-app purchases with ease.

Also Read How to Buy Crypto:

Surge in Telegram Users Drives Growth of Mini-Apps and Blockchain Ecosystem

Telegram's popularity has soared rapidly, marked by the proliferation of new mini applications that attract millions of new users every day.

One prominent example is Hamster Kombat, which has recently gained significant traction on the platform.

According to Rachael Lucas, crypto analyst at Australian exchange BTC Markets, Telegram's huge user base, which is 100 times larger than the on-chain user bases of all blockchains combined, provides a solid foundation for the development of a dynamic ecosystem.

The existence of this massive user base opens up huge opportunities for the growth of mini-applications and blockchain technology on Telegram.

TON Blockchain Latest Developments

Toncoin Price Soars, Entering the Top 10 Largest Cryptos

• Positive sentiment surrounds the TON blockchain, driven by several key factors.
• Toncoin, TON's native token, recorded a market capitalization of $19.05 billion, placing it in 9th place among top cryptocurrencies.

Major Investments and Strategic Collaboration

• In May, Pantera Capital, a crypto venture capital giant, announced its investment in TON, underscoring blockchain's potential to bring crypto to the broader public sphere.
• Another important collaboration occurred with Tether, a leading USDT stablecoin issuer, which integrated with the TON blockchain in May.

Increasing Popularity Invites Security Threats

• Another side of TON's popularity is attracting the attention of cybercriminals.
• In April, Kaspersky, a renowned cybersecurity company, reported a fraud scheme involving super secret bots and fake referral links to defraud users and steal Toncoin.

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Conclusion

The TON blockchain is experiencing rapid development, marked by rising Toncoin prices, large investments, and strategic partnerships.

However, its popularity also attracts cybercriminals, so user vigilance and education are key to maintaining security on this platform.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way through Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor price chart movements of Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime. 

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