TON Blockchain's TVL Has Set a New All-Time High
TON continues to set new records. The network's TVL exceeded the $600 million mark.
DefiLlama data shows that at the start of the trading week, the TVL of the TON blockchain rose to $609.78 million, setting a new all-time high. Just last week, the blockchain's TVL totaled $500 million.
The aggregator also pointed out which projects on the network helped TON increase TVL. The TVL of the DeDust project grew by 53% in the last 7 days. Smaller protocols on the network also showed double-digit growth.
TON is supported by the Telegram platform, which has a user base of more than 900 million people. The blockchain's growing popularity is attributed to its integration with Telegram, as well as the appearance of mini-games such as Notcoin and Hamster Kombat on the platform. Additionally, cryptocurrency venture capital fund Pantera Capital invested in TON last month, and Tether launched its USDT stablecoin on the network.
Meanwhile, memecoins based on the TON network have seen growth despite the downturn in the rest of the cryptocurrency market. The market capitalization of the top TON-based memecoins rose 35% over the past 24 hours to $172 million.
