DeFi

TON blockchain TVL exceeds $600 million

Published

7 months ago

17 June, 2024

The Ton blockchain, developed by the Telegram team, is in the spotlight of the DeFi sector due to the excellent technical performance recorded and the TVL achieved by the ecosystem.

The increase in retail interest, which has exploded thanks to the new trend of play-to-earn and tap-to-earn games, has allowed new capital to flow into TON and push TVL above the $600 million threshold. .

That’s crazy growth considering that until December 2023 the network only had $13 million.

Let’s see everything in detail below.

Ton, Telegram’s crypto network, marks impressive growth since the start of the year and exceeds $600 million in TVL in DeFi

As the market fully expresses its uncertainty with Bitcoin and Ethereum which have not yet taken a clear graphic direction, the TON blockchain deserves an honorable mention due to its excellent results recorded in the DeFi field.

According to what was reported by ChallengeLlama the Ton network, also known as Telegram Open Network, has surpassed 600 million TVLsecuring 15th place in the ranking of crypto networks with the most blocked capital.

We are talking about stratospheric figures if we consider that at the end of December 2023 the TVL of the channel developed by the Telegram team amounted to only 13 million dollars: in just 6 months we saw an increase in money of over 46 times.

It is also worth noting that over the last 3 weeks, approximately $300 million worth of TVL has been added, leading to a large influx of new users and on-chain activity in DeFi.

Source: https://defillama.com/chain/TON

In this context, 8 of the top 10 protocols developed on TON saw an increase in TVL over the last 30 dayswith the DEX DeDust and STON.fi score gains in 3-digit percentages, 482% and 104%, respectively.

Closing out the podium of top gainers is lending platform EVAA Protocol, which grew 70% over the same period, followed by other DeFi projects which, while reporting less eye-popping numbers, still saw growth trajectories, such as Storm Trade, Tonstakers, Bemo, Stakee, etc.

The success of the Ton blockchain is mainly due to its integration as a web3 solution preferred by Telegram userswhich, thanks to its strong presence in the social world with 900 million users, has allowed the crypto network to make a qualitative leap in a very short time.

As reported by Rachael Lucas, crypto analyst at Australian cryptocurrency exchange BTC Markets, in an interview with The Block:

“This enormous potential user base, approximately 100 times larger than the current user base of all other blockchains combined, provides a strong foundation for a thriving ecosystem.”

Telegram your tv challenge Source: https://defillama.com/chain/TON

Remember that Ton, despite particularly favorable dynamics, still offers few integrations with the DeFi sector as a whole, and suffers from the lack of leading dapps in the web3 industry such as UniswapAave, Lido, etc.

Remaining within a closed ecosystem, it is difficult for Ton to reproduce what has been done by Ethereum or by other EVM chains which occupy more important positions in the DeFiLlama ranking.

In this regard, the Ethereum blockchain, although reporting a lower number of new addresses than Ton, shows a TVL of around $62.4 billion, more than 100 times higher than its Telegram-based competitor.

There is still a long way to go for this channel.

Flippening CT ignores 🔍

TON’s quiet growth, fueled by Telegram’s 900 million user base, has propelled its daily active addresses above Ethereum.

At its core, TON is a bet on Telegram distribution. Although the ecosystem is nascent, its initial growth is promising. But is it enough? pic.twitter.com/k2b2SMiQJD

– Delphi Digital (@Delphi_Digital) June 10, 2024

Strong wave of retail interest thanks to DeFi and blockchain games: Notcoin, Yescoin and Hamster Kombat

Ton’s increased interest in DeFi, and the resulting disproportionate increase in TVL, comes from a new trend which is becoming popular within the Telegram crypto community: we are talking about “play to win” And “tap to win» games, designed to encourage users to complete simple tasks to earn cryptocurrencies.

Especially, simplistic and rewarding games like Notcoin, Yescoin and Hamster fight appear to have further increased the popularity of the networkalso driven by typical SEO mechanisms that multiply retailer participation.

Thanks in particular to the glorious beginnings of Notcoin on all major crypto exchanges, with crypto NOT surpassing 2.5 billion market cap in early June, a feeling of strong interest in gaming products developed on Telegram was generated.

The currency, launched for free with an airdrop to users of the tap-to-earn game, generated according to data from dune.analytics a trading volume in TON and NOT exceeding $7 billion on the first day of launch on May 16 . , 2024.

This kind of trend which sees more and more users interested in DeFi and dapps on Telegram will certainly continue as long as the launches of new tokens on Ton are successful like that recorded by Notcoin.

Source: https://dune.com/obchakevich/notcoin-volume-post-launch-analytics

Also report the arrival of the USDT stablecoin within the TON blockchain in April, which enabled a significant gain in TVL and provided a solid currency for trading across the entire ecosystem.

Additionally, earlier this month, the messaging app introduced a mini-app digital payment system called Telegram Starswhich offers app developers lower promotional rates than traditional platforms like the Apple and Google app stores.

Given the figures so convincing, even the Capital risk support the growth of this blockchain: Pantera Capital invested in TON last month, citing the advantage of a direct connection with Telegram and a substantial user base.

Obviously, TON, the main cryptocurrency of the cryptographic network of the same name, has been taken by storm on the markets by investors who have increased its price from 2 dollars in February to the current 7.8 dollars in a crazy bull run.

price per ton Source: https://coinmarketcap.com/currencies/toncoin/

Fuente

Related Topics:Challenge Telegram television tonne

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DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

Discover the exciting opportunities of the Rollblock (RBLK) presale today!

Website: https://presale.rollblock.io/

Social networks: https://linktr.ee/rollblockcasino

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DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

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