The Open Network (TON) Reaches Major Milestone: Daily Transfer Volume Soars to 10% of Bitcoin
The Open Network (TON), a decentralized level 1 blockchain, has recently achieved an impressive feat: its daily transfer volume now equals 10% of Bitcoin's. With rapid growth and increasing metrics, TON is emerging as a significant player in the crypto ecosystem. Let's delve into this remarkable rise.
The Rise of TON's Metrics
The surge in TON's growth is no accident. Several factors have contributed to its newfound prominence.
Contribution from Telegram
Telegram played a crucial role by introducing an economy based on Toncoin within its app. The app's advertising system pays channels up to 50% in TON, attracting a wave of new users. This influx has pushed transaction volumes to unprecedented levels.
Open League Program
The Open League Program, launched in April, plans to distribute 30 million TON, valued at around 188 million dollars, to community members through airdrops, quests, and liquidity pools on decentralized exchanges. This initiative has not only boosted user loyalty but also attracted new investors.
Growth in DeFi Platforms
Decentralized exchange platforms like Ston.fi and Dedust and liquid staking projects such as Tonstakers and Bemo have shown significant growth in TVL (Total Value Locked). This rise in TVL reflects increasing investor confidence in the TON ecosystem, strengthening its market position.
The Breakthrough in TVL
One clear indicator of TON's success is its TVL, which doubled in three weeks, reaching a record high of 605 million dollars. By comparison, TON’s TVL was 300 million dollars at the end of May and climbed to 620 million dollars at the time of writing. This skyrocketing locked value is due to investor interest in DeFi solutions like liquidity pools and liquid staking.
Increase in Toncoin Holders
The exponential growth in the number of Toncoin (TON) holders is another sign of rising popularity. In one year, holders increased from 2.9 million to 32 million, pointing to rapid adoption and community engagement.
Comparison with Bitcoin: A New Era for TON
Compared to Bitcoin, TON's daily transfer volume is eye-catching. With Bitcoin averaging 50 billion dollars daily, TON ranges between 5 and 10 billion dollars per day. Although this represents only 10% of Bitcoin's volume, it is significant for a relatively young blockchain.
This comparison emphasizes TON's potential to compete with giants like Bitcoin and hints at future growth opportunities. The rapid achievement of this milestone underlines TON’s innovation and its growing appeal to users and investors.
TON's robust infrastructure and innovative solutions, such as decentralized exchanges and liquid staking projects, create a dynamic and attractive ecosystem. These unique features position TON as a viable and competitive alternative to Bitcoin and other established cryptocurrencies.
