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The TON Network, in partnership with Tether (USDT), has reached a major milestone, crossing $1 billion in USDT circulating on the platform. Since their partnership began in April, the collaboration has fueled a rapid expansion in TON’s DeFi landscape, leading to substantial liquidity inflow and user growth. According to CryptoQuant data, the value of USDT on TON has grown by a staggering 670% over the past six months, reflecting the network’s accelerated adoption.
Tether’s Role in TON’s Growth
Tether, as the largest issuer of stablecoins, has played a pivotal role in this surge. Initially valued at $130 million in May, the supply of USDT on TON now stands at an impressive $1.02 billion. This growth aligns with TON’s expanding ecosystem of Decentralized Applications (DApps) on Telegram, which has attracted significant interest from both retail and institutional users. Data from DeFiLlama also indicates a current Total Value Locked (TVL) on TON of $720 million, showcasing the platform’s rise in the competitive DeFi landscape.
Further expansion is anticipated as Tether recently announced plans to launch a Dirham-backed USDT on the TON Network, aiming to boost liquidity within the Middle East. With this regional integration, the partnership between Tether and TON is expected to drive further adoption and liquidity on the platform.
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Telegram Mini Games Fuel TON’s Ecosystem
Beyond DeFi, TON’s growth has been bolstered by popular Telegram mini-apps, which engage users through various interactive and token-based experiences. Games like Notcoin (NOT), Catizen (CATI), and Hamster Kombat (HMSTR) have created a significant on-chain following, drawing in fresh capital and active users. While some games, like Hamster Kombat, faced community backlash due to a disappointing airdrop, the overall reception to TON’s Telegram-based apps has been largely positive.
Toncoin, the native token of TON, has also benefited from this momentum, recently climbing into the top 10 most capitalized cryptocurrencies. Despite a modest decline of 2.6% in the past 24 hours, Toncoin’s price currently stands at $4.80, with some analysts predicting a potential rise to $20 if the bull market continues.
This combination of DeFi expansion and Telegram-integrated mini-apps positions TON as a strong contender in the blockchain space.
