USDt-TON has reached a significant milestone, with its circulation hitting $200 million within a month of issuance. This rapid growth marks the fastest token circulation in Tether’s USDt history, reflecting increasing demand for USDT within the TON ecosystem.
TON celebrated this achievement on Twitter, stating, “$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.”
The partnership between Tether and the TON Foundation was announced at the Token2049 crypto conference in Dubai on April 19, signaling a step forward in stablecoin integration. The collaboration aims to facilitate the use of USDT and XAUT for peer-to-peer payments on the TON blockchain, catering to Telegram’s 900 million users. The TON blockchain highlighted the ease and speed of cross-border payments on its network, comparing it to sending a text message on Telegram.
Recently, the TON network also made headlines in the crypto world. According to DefiLlama, the network surpassed $200 million in Total Value Locked (TVL) over the past week, a 900% increase from March’s TVL of $22.9 million, showcasing significant growth and adoption within its ecosystem.
Additionally, TON launched its protocol integrations and introduced The Open League, which has attracted considerable attention in the blockchain community. This initiative offers over $150 million in TON tokens as prizes to the community and projects within the TON ecosystem.
Following the launch, the Open League has significantly boosted user engagement with the TON blockchain, resulting in a 264% increase in monthly active users (MSUs) to 1.5 million. According to Coinmarketcap, TON is currently trading at $7.05, representing a 4.15% intraday increase.
May 2024, Cryptoniteuae
