Key details:
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Ston.Fi, the main decentralized trade on TON, dominates the market.
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The gaming ecosystem on Telegram is driving this progress of TON.
The Open Community (TON) has captured the eye of the cryptocurrency world following a notable improve in exercise on its decentralized exchanges (DEX).
This increase, pushed by the rising adoption of the platform, has elevated the variety of transactionsthough the value of its cryptocurrency, toncoin (TON), has remained comparatively steady.
An evaluation shared by on-chain information supplier CryptoQuant, carried out by Joao Wedson, revealed that platforms resembling STON.Fi, DeDust and Megaton Finance have seen a pointy improve in distinctive addresses since April, as will be seen within the following chart.
This habits signifies that Increasingly customers are utilizing these DEX for his or her TON transactions.
STON.Fi leads the market, capturing 90% of all trades, whereas DeDust has misplaced relevance and Megaton Finance continues to wrestle to realize traction.
Regardless of this progress, Toncoin worth has remained between $4 and $8 over the previous 6 months, with out surpassing its all-time excessive reached in June 2024, as seen within the following TradingView chart.
Wedson famous that “many merchants had been late to take a position, whereas early adopters had been already positioned.”
STON.Fi’s success is basically attributable to its robust group help, which has allowed it to ascertain itself as probably the most aggressive DEX on the community. When it comes to worth locked (TVL), STON.Fi peaked in July with $373 million in Junethough that determine has now dropped to $190 million, in keeping with information from DeFiLlama.
TON demonstrates excessive processing capability
Market analyst Shiven Moodley focuses on varied features of the TON community, highlighting its scalability, progress, and relationship between market cap and circulating provide.
Moodley believes that The TON community has demonstrated excessive processing capabilitypermitting it to deal with excessive transaction volumes and scale successfully.
He additionally notes that the disparity between market capitalization and circulating provide could counsel that A portion of the toncoin is locked or held for the long runwhich impacts liquidity.
On this regard, he argues that there seems to be a basic correlation between market capitalization and circulating provide as seen within the following graph.
In line with the analyst, this means that “a big a part of the circulating provide contributes to the market valuation.”
As well as, attributed a lot of TON’s success to its integration with Telegramwhich has 900 million customers.
Video games enhance TON community
The community hosts greater than 500 functions, together with some which have been key to its progress, resembling the favored video games Notcoin and Hamster Kombat, which have attracted thousands and thousands of individuals.
Within the case of Notcoin, a social recreation that falls into the class of “clicker“, shows a gold coin on the display, and tapping it earns NOT items. Every participant has a restricted quantity of power that depletes after which slowly recharges over time.
Final JuneAs reported by CriptoNoticias, the sport reported that it had reached 40 million customers in complete..
Hamster Kombat follows an analogous method to Notcoin. By means of its X account, it was reported that over 300 million folks have joined the sport since March 26, 2024.
One of many components that would improve exercise on the community is the airdrop of the Hamster Kombat (HMSTR) token, for which 131 million customers certifiedwhich can happen on September 26.
Each NOT and HMSTR They’re supported by main exchanges of cryptocurrencies on this planet, resembling Binance, Bybit and OKX, for each spot and offline buying and selling. farming y launchpools.
The TON community has memecoins
As well as, TON has witnessed the rise of “memecoins” resembling DOGS, a cryptocurrency impressed by a drawing by Telegram CEO Pavel Durov.
The DOGS Token Technology Occasion (TGE) concerned 53 million customers, of which 17 million claimed the token. airdrop del token.
At varied factors, the community’s each day lively customers surpassed a million, recording as many as 14.4 million transactions in a single day. This phenomenon has positioned TON as a community with excessive potential for scalability and adoption.