Pendle (pendle) 
Toncoin Price Nears All-Time High Amid Ecosystem Growth
The Toncoin price continues to edge closer to its all-time high, driven by robust ecosystem growth and increasing user demand. On Tuesday, TON rose to $8.10, just shy of its record high of $8.30. This marks an impressive increase of nearly 800% from its lowest point in 2023, elevating its market valuation to almost $20 billion.
TON Surpasses Avalanche in DeFi
The TON ecosystem is experiencing significant growth across various sectors, quickly becoming a major player in decentralized finance (DeFi). Over the past 30 days, the network’s total value locked (TVL) has surged by 70% to over $1.13 billion.
This increase has positioned TON as the eighth largest blockchain, trailing behind Ethereum, Solana, Tron, Binance, Arbitrum, Base, and Blast. It has surpassed well-known platforms such as Avalanche, which has $1.11 billion in assets, as well as other blockchains like Polygon, Optimism, Sui, Cronos, and Near.
Several decentralized applications (dApps) within the TON ecosystem have seen substantial activity recently. DeDust’s TVL has soared by almost 300% to over $375 million, while STON.fi, Tonstakers, bemo, and Stakee have all experienced increases of over 30%.
Toncoin has also gained traction as a popular staking token. Data indicates that its staking market cap has risen to $4.7 billion, ranking it as the ninth most staked token in the industry.
Tap-to-Earn Growth Accelerates
Toncoin’s price has further surged as investors respond positively to the performance of the tap-to-earn ecosystem. Notcoin, the only publicly-traded tap-to-earn platform, has reached a market cap of over $1.4 billion. TapSwap, another rapidly growing game, has garnered over 60 million users globally.
Hamster Kombat, a game with Russian origins, has emerged as the fastest-growing game in the industry, boasting over 200 million users. Its YouTube channel has also seen explosive growth, gaining over 30 million subscribers within a month and accumulating over 500 million views.
Other tap-to-earn platforms such as AvaCoin, DotCoin, and YesCoin are also experiencing significant growth due to their user-friendly nature and the potential for substantial rewards following their airdrops. All these tap-to-earn networks are expected to launch their airdrops on the TON Blockchain, which will likely drive even more activity.
However, there is a volume risk in Toncoin’s growth trajectory. Data shows that its daily trading volume has remained below $800 million since June 15th. This is relatively low for a $20 billion token, especially compared to smaller tokens like Pepe and Dogwifhat, which see higher daily volumes.
Stay updated with the latest cryptocurrency news and trends on Global Crypto News for more insights into the world of cryptocurrencies, investing, and finance.
