The Open Network's TVL Totaled $500 million, TON Hits an ATH of $8.01
The TVL of The Open Network blockchain reached a staggering $500 million, while the network's native token hit an all-time high of $8.01.
The team behind The Open Network has announced that the network's TVL has reached a record $500 million, up from $22.9 million in 3 months, recording a 2,000% increase. In their tweet, the team emphasized that such a significant TVL can be compared to the GDP of a small country.
These numbers also confirm the superiority of The Open Network over other blockchains. Telegram popularized the TON blockchain through strategic partnerships and the successful launch of mini-games such as Hamster Kombat and Notcoin. For example, in May, Binance reported that the TON blockchain outperformed the Bitcoin network by 118%.
Meanwhile, The Open Network's native token, TON, hit an all-time high of $8.01 at the start of the trading day. The coin has gained 12% over the past month. Although the coin's price has pulled back in recent hours, technical indicators remain positive.
EMA indicators indicate a buying bias on both short and long timeframes. The coin trading consistently above the moving averages indicates strong upward momentum at these levels. The MACD position indicates a buy signal. The RSI index is in a neutral position.
