- USDt-TON, a product of the partnership between Tether and TON Foundation, has reached a circulation of $200 million in record time, indicating a high demand within the TON ecosystem.
- The TON network has also surpassed $200 million in Total Value Locked (TVL), driven by initiatives such as The Open League.
- The integration of Tether tokens USD₮ and XAU₮ on the Ton blockchain was announced during the Token2049 crypto conference in Dubai, marking a significant advancement in stablecoin integration.
USDt-TON hits a record $200 million circulation within a month, signaling high demand and adoption. The TON network also surpasses $200 million TVL, driven by initiatives like The Open League.
USDt-TON Circulation Hits $200 Million
USDt-TON has reached a significant milestone, hitting a circulation of $200 million within a month of issuance. This rapid growth sets a new record for the fastest token circulation in Tether’s USDt’s history, highlighting the growing demand for USDT within the TON ecosystem. TON announced this achievement via Twitter, stating, “$USDt – $TON reaches $200M in circulation in less than a month after launch, setting a new record as the fastest growing launch in the history of Tether.”
Tether and TON Foundation Partnership
The partnership between Tether and TON Foundation, announced during the Token2049 crypto conference in Dubai, has enabled the integration of Tether tokens USD₮ and XAU₮ on the Ton blockchain. The partnership aims to facilitate the use of USDT and XAUT for peer-to-peer payments on the TON blockchain, targeting Telegram’s 900 million user base. To assure users, the TON blockchain emphasized the simplicity and speed of cross-border payments on its network, likening it to sending a text message on Telegram.
TON Network Surpasses $200 Million TVL
Meanwhile, the TON network has also made headlines in the crypto arena. Data from DefiLlama revealed that the network surpassed the $200 million mark in Total Value Locked (TVL) over the past week. This figure represents a 900% increase from March’s TVL value of $22.9 million, demonstrating substantial growth and adoption within the TON ecosystem.
Conclusion
The rapid circulation of USDt-TON and the increase in TVL on the TON network indicate a high demand and adoption within the TON ecosystem. The partnership between Tether and TON Foundation and the integration of Tether tokens on the Ton blockchain mark significant advancements in stablecoin integration. These developments suggest a promising future for the TON network and the broader crypto market.
