🌎 TON Ecosystem TVL Hits $600M Despite Toncoin Price Drop

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TON Ecosystem’s TVL Reaches $600M Despite Toncoin Price Dip

On June 17, 2024, the TON ecosystem achieved a milestone by amassing a total value locked (TVL) of $600 million. This growth reflects a 130% increase in just under a month. The crypto community attributes this surge to the success of TON’s mini apps.

However, despite this development, Toncoin’s price fell by almost 10% on Tuesday, hitting $7, its lowest level since June 12. This marks a more than 15% decline from its highest point.

Enthusiasts believe this setback is temporary and expect positive movements for both the ecosystem and the coin.

Anticipation Surrounding TapSwap Launch

Analysts suggest that the growing TVL and the upcoming launch of TapSwap, a popular Telegram tap-to-earn platform, could boost Toncoin. TapSwap, which has over 26 million social media followers, chose Toncoin for its speed and low transaction costs.

How TapSwap Works

Launched on February 15, 2024, TapSwap has gained significant traction. Users earn in-game tokens by tapping and completing missions and tasks. The app now boasts over 50 million users worldwide.

Simple-Ton: A New Entrant on the TON Blockchain

Another project gaining attention on the TON blockchain is Simple-Ton. Inspired by the SpongeBob universe, Simple-Ton Coin leverages the Jetton Smart Contract to engage its community.

To ensure transparency and security, the Simple-Ton team has fully renounced ownership of the contract, meaning no single entity can control or alter it. Additionally, they have burned the liquidity pool to eliminate the risk of rug pulls.

Simple-Ton’s Growth Compared to Resistance Dog (REDO)

Simple-Ton’s growth is comparable to another top memecoin on the TON blockchain, Resistance Dog (REDO). With a market cap of $109.76 million and a 24-hour trading volume of $5.74 million, REDO has seen dramatic growth, attracting both new and veteran investors.

Simple-Ton aims for similar growth with its current approach and robust security measures. The future of this project remains to be seen.