Total locked value of TON has increased 14 times since the beginning of March

Impressive Growth of The Open Network (TON) Blockchain

Since the beginning of March 2024, the total value locked (TVL) in The Open Network (TON) blockchain has significantly increased, surpassing $300 million and growing more than 14 times. This impressive growth is driven by activity on decentralized exchanges (DEX) Ston_fi and Dedust, as well as in liquid stacking protocols such as Tonstakers and bemo.

Exceptional Incentive Ecosystem Program

According to the analytics platform DeFiLlama, the TVL of the TON network has grown from $23 million at the beginning of March to $317.19 million currently. This growth has been made possible by The Open League’s incentive ecosystem program, which supports users of the top decentralized applications (DApps) based on TON.

Native TON Token Ranks Tenth in Market Rankings

At the time of writing, the native TON token ranks tenth in the overall cryptocurrency rankings with a capitalization of over $22 billion. It is trading at $6.35, up 0.3% in the last day and 0.8% higher over the week. Since the beginning of the year, the asset has gained 173%.

Pantera Capital’s Historic Investment in TON

In early August 2024, Pantera Capital, one of the oldest and largest cryptocurrency venture funds, announced its largest investments in TON in the fund’s history. Although the amount of the deal was not disclosed, Pantera representatives emphasized that TON has the potential for widespread cryptocurrency adoption due to its integration with Telegram, significantly increasing its influence and accessibility.