TON DEXs Hit Record Growth as STON.fi Dominates Decentralized Trading
The post TON DEXs Hit Record Growth as STON.fi Dominates Decentralized Trading appeared on BitcoinEthereumNews.com.
In a recent analysis by blockchain expert Joao Wedson, the TON (The Open Network) network shows impressive DEX activity. Wedson, following the development of decentralized finance closely, pointed out that the number of addresses and transactions has skyrocketed on TON’s DEX platforms. The charts and numbers are very much more precise and insightful on TON’s rising hegemony in DeFi and how its flagship STON.fi DEX has grown to be the market leader. Explosive Growth of Addresses and Transactions on TON Network DEXs “The increase in new addresses on $TON DEXs shows ongoing interest in decentralized trading on the network. Among the platforms, STON. Fi dominates the market, capturing 90% of all DEX transactions.” – By… pic.twitter.com/nDwKvmxhss — CryptoQuant.com (@cryptoquant_com) September 24, 2024 TON is now an essential part of the blockchain market as the popularity of decentralized finance increases. In Wedson’s breakdown, STON.fi has secured 90% of the total DEX transactions, a clear sign of its supremacy over other frameworks in the network. Key Metrics: Record Number of Addresses and Transactions The cumulative address on TON’s DEX platforms has surged significantly, as evidenced by data sourced by Wedson through CryptoQuant. From August 2023, the number of addresses started to increase, and by September 2024, the addresses reached more than 2.4k. This increase shows that more and more people are trading directly on TON’s network. Such growth is directly connected to stabilizing the price of TON tokens, as demonstrated in the figure. After weeks of continual increase, the cost of TON started to stabilize, which means many traders arrived too late to speculate. At the same time, early adopters gained more opportunities. STON.fi takes the lead, DeDust and Megaton Struggle According to Joao Wedson, STON.fi is a leading actor in the TON DEX ecosystem. With a trading volume of 90% of…
Filed under: News - @ September 25, 2024 2:21 am