The post TON TVL Jumps By 10x and Price Surges By 3x; Is Pantera Capital Doing All? appeared on BitcoinEthereumNews.com.

The Open Network (TON) is a decentralized and open internet created by the community using a technology designed by Telegram. It is a layer 1 network that is continued by the open-source community. TON can introduce crypto to the masses as it is extensively used within the Telegram network. Many analysts believe that the TON has the potential to bring millions of users to crypto. Pantera Capital recently announced they will make their biggest investment in the TON. Meanwhile, Pavel Durov has recently made two appearances after maintaining a low profile for over a decade. Let’s have a look at the onchain analysis of The Open Network. Does The Return Of Pavel Durov Pushing TON? TON is unlocking numerous ways for the Telegram community to monetize, share, and grow their businesses. Recently, Tether announced the deployment of its stablecoin, USDt, on the TON blockchain and in the Telegram Wallet. USDt on the network has reached over 200 Million in circulation. The scalability of the network allows for a fixed fee of $0.1 to transact between the two users. It is 66% cheaper than other platforms. Source: TON TVL By Defillama TON TVL has seen an exponential rise of 10x growth from MAR 2024 to MAY 2024. It has observed a rise from the low of $30 Million to the highs of $305 Million. The number of core developers on the platform is rising with the TVL. Source: TON address by TONScan TON’s total address has also seen substantial growth from 5 Million to 25 Million within a few months. The number of TON staked has observed an 8% surge in the last two weeks, while the staking APY has declined by 33% in this time frame. Let’s see how the price action scenario for the token price is working. Are…

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Filed under: News - @ May 25, 2024 7:20 pm