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TON Blockchain Reaches $300 Million TVL and Increases Tenfold Since March
The Open Network blockchain, TON, has surpassed $300 million in total value locked (TVL) for the first time, marking a notable tenfold increase since March.
DefilLama: Source
The Open League initiative leads the surge, rewarding users of the best decentralized apps, such as DeFiLlama data reveals that TVL has skyrocketed from $23 million to $317.48 million, driven by decentralized exchanges like Ston.fi and Dedust and liquid staking projects like Tonstakers and Bemo.
Notably, the network welcomed 1 million wallets during the token generation event for Notcoin, a popular Telegram Mini App game. The network architecture ensures smooth transactions without interruptions or delays.
Originally a Telegram project, The Open Network overcame legal hurdles to launch in 2021. Its native token, Toncoin, trades at $6.4 with a market capitalization of $22 billion. Pantera, a leading venture capital fund, recently made its largest-ever investment in TON.
This growth highlights TON’s importance in the blockchain space and its alignment with Telegram’s ecosystem expansion goals.
Read also: DeFi TVL Skyrockets to $94.97 Billion, Up $11.89 Billion