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Toncoin (TON) TVL up over 300% amid shifting market dynamics

Friday, April 19, 2024 04:15 AM | Invezz via QuoteMedia

Toncoin (TON) TVL up over 300% amid shifting market dynamics

2024-04-19 04:15:43 ET

Toncoin Token Symbol

Telegram-based Toncoin (TON) has struck a significant milestone, with its total value locked (TVL) soaring past $157.8 million.

TON TVL Chart on DeFiLlama

The remarkable surge represents a threefold growth within a month and a staggering tenfold increase over the past year.

Toncoin’s current total value locked confirms the blockchain’s increasing popularity within the DeFi industry.

Speculations driving TON’s ascent

Toncoin’s growth comes as the crypto community collaboration between TON developers and AI company HumanCode.

The updates triggered buoyancy among TON enthusiasts, with many awaiting a more announcements that might push the altcoin’s prices higher.

Telegram’s ad revenue-sharing and IPO speculations by the founder and the expected stablecoin USDT launch on the TON ecosystem fueled the amplifying buzz.

Meanwhile, the impressive Toncoin growth saw it climb the crypto ranks after flipping Cardano , with TON’s current market cap above $24 billion.

TON price outlook

Toncoin’s price performance reflects dominant bulls. The altcoin maintained uptrends in April, hitting new ATHs several times last month.

TON traded at $7.00 at press time, and its momentum suggests continued upside after a 20% and 85% surge in the past day and month, respectively.

TON 1D Chart on Coinmarketcap

The recent surge saw it overcoming the consolidation range at $6.50 – $6.75, reflecting a change in market sentiment, with bulls in the driver’s seat.

Toncoin continues to exceed market expectations as prices hit extraordinary peaks.

Meanwhile, the focus remains on its flourishing ecosystem, with strategic collaborations, growing value, and innovative projects establishing Toncoin as a force to reckon with in the DeFi and crypto sector.

The post Toncoin (TON) TVL up over 300% amid shifting market dynamics appeared first on Invezz

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