According to data from The Block, the net circulation of Tether's USDT stablecoin on The Open Network (TON) blockchain has reached 519 million tokens. This milestone comes approximately two months after Tether introduced USDT and its gold-backed token XAUT to the TON network.
TON Network Highlights Growing USDT Demand
The Open Network officially stated in its Telegram channel:
"The demand for USDT-TON is skyrocketing—and it's no surprise. The ability to send digital dollars as easily as texting to anyone, anywhere, is a practical real-world application that sets USDT-TON apart."
TON Blockchain Gains Momentum
Key metrics showcasing TON's rapid growth:
Total Value Locked (TVL):
- Surpassed $600 million in mid-2025 (double the value from three weeks prior).
- Current TVL: ~$670 million (as of reporting).
Toncoin (TON) Market Position:
- Ranked 8th by market cap among cryptocurrencies ($18.5 billion).
- Trading price: $7.47 per TON.
Driving Factors Behind TON’s Expansion
Telegram Integration:
- TON is Telegram’s preferred Web3 solution, leveraging its 900 million users.
- Recent features include TON-based ad revenue payments for Telegram.
Play-to-Earn (P2E) Games:
- Viral mini-games like Notcoin and Catizen have boosted on-chain activity.
FAQ Section
Q1: Why is USDT on TON significant?
A: It enables fast, low-cost USDT transfers directly within Telegram’s ecosystem, merging crypto with mass-market messaging.
Q2: What’s driving TON’s TVL growth?
A: Increased adoption of DeFi apps and P2E games, alongside Telegram’s user base expansion.
Q3: Is Toncoin (TON) a good investment?
A: While its market cap reflects strong demand, always conduct independent research before investing.
👉 Explore TON blockchain’s latest developments
Sources: The Block, DefiLlama
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