Toncoin (TON) is making waves in the cryptocurrency world, driven by increased adoption and heightened market activity. The network has seen a surge in user engagement, thanks to the popularity of mini-apps and tap-to-earn games. Meme tokens on the Toncoin network are also gaining traction, adding to the ecosystem’s vibrancy. Toncoin’s main decentralized exchange, DeDust, has reported substantial volume growth, reflecting the rising activity on the network. With Toncoin aiming for a $10 valuation, the future looks promising. As the network continues to expand, the diverse and dynamic nature of the Toncoin ecosystem is becoming increasingly evident.

Toncoin (TON) Sees Major Growth and Increased Activity in Recent Months

Toncoin (TON) has become one of the most widely used and accessible blockchain networks, hosting several high-activity trends. In the past quarter, Toncoin facilitated over $9 billion in transaction volumes, largely due to the creation of nearly 600 million native USDT tokens. The outstanding supply of USDT has remained steady since June, with 579 million tokens in circulation.

July proved to be a particularly active month for Toncoin, driven by the popularity of mini-apps and games like Hamster Kombat. The rebranded TON blockchain is effectively tapping into new social media channels, allowing direct crypto usage. While trading bots and pump channels have been a part of the Toncoin ecosystem for years, the recent surge in activity is attributed to the generation of USDT and the proliferation of mini-apps. Additionally, Toncoin hosts a variety of meme tokens and regularly facilitates new token generations.

The acceptance of Toncoin-based USDT is growing, with major exchanges like Binance now carrying the asset. This native USDT enables Toncoin users to engage in more liquid swaps, alongside JUSDT, a bridged asset, providing potential for seamless swaps between the two. XUSDT’s presence supports the Telegram ecosystem of advertisements, boosting channel revenues and attracting new users and mini-app creators, further enhancing the Toncoin network’s vibrancy and utility.

Toncoin (TON) Sees Increased Fees and User Activity Amid Ecosystem Growth

Toncoin (TON) has seen a significant rise in usage, leading to increased fees. Over the past two weeks, daily fees have surged by 50%, climbing from approximately 100,000 to 150,000 daily. The number of active daily users on Toncoin remains close to 500,000, comparable to the activity levels of Ethereum and Solana. Monthly users have reached 3.8 million, driven largely by decentralized trading.

In recent months, Toncoin has primarily relied on native projects and tokens, with fewer transfers from Ethereum due to the creation of native USDT. Toncoin is connected to ten additional chains via Orbit Bridge, with over $32 million locked in the contract. Despite this, Toncoin’s decentralized finance (DeFi) sector remains underdeveloped, with less than $800 million in total value locked (TVL). This lag is partly because Toncoin depends on native apps and does not host versions of popular DeFi platforms like Uniswap or Aave. Most Toncoin apps are single-chain, despite their compatibility with the Ethereum Virtual Machine (EVM).

DeDust, the largest decentralized exchange (DEX) on Toncoin, handles around $16 million in daily volumes and has the capacity to list all new tokens. Since June, DeDust has experienced explosive growth, increasing its total value by 400% to nearly $400 million. The influx of high-profile meme tokens and higher liquidity has enhanced DeDust’s significance within the Toncoin ecosystem.

Toncoin (TON) Growth Boosted by Daily Quests and Game Combos

In July, Toncoin (TON) has seen an increase in its user base, driven by new trends such as daily quests and game combinations. Social media channels and chats offer point combinations and token-based rewards, attracting more users to the platform. This influx of users pushed TON, the native asset of Toncoin, to a weekly peak of $7.54, although it has yet to recover its one-month peak above $8. Notcoin (NOT), one of the earlier assets on Toncoin, saw a significant rally, gaining nearly 10% in an hour and trading at $0.016, up from lows of $0.014. Optimistic predictions suggest that TON could reach as high as $10, despite the lack of listings on prominent centralized exchanges.

Most new users are directed toward platforms such as Notcoin, Hamster Kombat, TapSwap, and Yescoin, which offer various daily tasks. Although only a portion of these activities result in on-chain transactions, they are contributing to the growth of Telegram’s user base. Consequently, the Telegram app now features crypto channels among its top 10 most visited, led by Hamster Kombat. All Toncoin and Telegram tap-to-earn games have risen to the top of the channel rankings.

Not all tap-to-earn games are based on the Toncoin blockchain. Some tokens or earnings come from Base due to its minimal friction and fees. Toncoin users are a mix of older crypto enthusiasts and new arrivals from tap-to-earn games, contributing to the diverse and growing community.

Summary

Toncoin (TON) is experiencing significant growth and solidifying its user base, bolstered by an increase in Tether (USDT) value. The adoption of mini-apps and tap-to-earn games continues to drive user engagement, while meme tokens on the Toncoin network remain popular among users. Toncoin’s main decentralized exchange, DeDust, saw substantial volume growth in June and July, reflecting the rising activity on the network. This growth has led to heightened expectations, with TON aiming to reach a $10 valuation. Additionally, Notcoin (NOT) has outperformed other assets in recent performance, showcasing the diverse and dynamic nature of the Toncoin ecosystem.

As Toncoin continues to expand, the network’s vibrant and dynamic nature becomes increasingly evident. The rise in user activity, increased fees, and the popularity of mini-apps and tap-to-earn games are all contributing to Toncoin’s growth. With the acceptance of Toncoin-based USDT on major exchanges and the ongoing development of native projects and tokens, the future looks bright for Toncoin. The network’s ability to attract new users and maintain high levels of engagement will be crucial in achieving its ambitious goals and solidifying its position in the cryptocurrency market.

The author does not own or have any interest in the securities discussed in the article.