TON crosses $200 million in Total Value Locked as its network integration continues to scale
- TON surpassed the $200 million mark in TVL on Monday.
- The Open League continues to strengthen TON's reach and integrations.
- The TON ecosystem is gaining relevance with more protocol integrations.
In a recent development, the TON network surpassed $200 million in total value locked (TVL) on Monday after seeing a major boost through The Open League reward program.
Read more: Ton Foundation partners with Hashkey to enable crypto on-ramping for Telegram wallet users
TON's growth following The Open League reward program
The TON network has attained a significant milestone by surpassing the $200 million mark in Total Value Locked (TVL) on Monday. The network's TVL surged by a remarkable 900%, from a $22.9 million TVL in March, demonstrating the growing relevance and adoption of the TON ecosystem.
The TON network has gained rapid attention and relevance in the past few months, with more protocol integrations and the launch of The Open League, TON's massive rewards program. The Open League offers over $150 million worth of TON in prizes to the community and projects within the TON ecosystem. Since its launch, The Open League has attracted much attention and enthusiasm towards the TON blockchain.
Also read: Ton Foundation partners with Hashkey to enable crypto on-ramping for Telegram wallet users
Furthermore, TON has also seen integrations with key players like Telegram—reaching an audience of 900 million users—and introducing the USDT stablecoin to its network. Additionally, Pantera Capital has invested in TON, aiming to introduce cryptocurrency to the masses.
Notably, The Open League has brought a 264% increase in the TON's monthly active users (MAUs), currently standing at 1.5 million users. The TON ecosystem's relevance and adoption could continue growing if more protocol integrations are secured. The network has also seen an increase in Jetton holders, scaling up 1000+%, currently at 1.2 million users.
Read more: USDT launches on TON blockchain as Tether announces US Dollar, Gold-backed tokens
TON's price has also warmed nicely to its ecosystem growth, rising to an all-time high of $7.63 on April 11 before experiencing a correction to $4.67 on May 1 following the recent crypto market crash. However, TON is gradually recovering from the price dip, trading at $5.77 on Monday.
Author
Michael Ebiekutan
FXStreet
With a deep passion for web3 technology, he's collaborated with industry-leading brands like Mara, ITAK, and FXStreet in delivering groundbreaking reports on web3's transformative potential across diverse sectors. In addi
