The supply of USDT stablecoin on the TON blockchain has surpassed 500 million.

rope USDT

+0.023%
Net stablecoin circulation on The Open Network exceeds 500 million. ton

-0.33%
). According to USDT on The Block supply dashboard As of Tuesday, there were 519.28 million USDT stablecoins on the TON network.

About two months later, something like this happens. Tether launch TON’s US dollar-backed stablecoin and the company’s gold-backed stablecoin XAUT.

“Demand for USDT-TON is surging and this is not surprising,” The Open Network announced on its official Telegram channel. “The ability to send digital dollars to anyone, anywhere as easily as sending a text message is the practical, real-world use case that sets USDT-TON apart.”

Earlier this month, the total locked value on the TON blockchain exceeded $600 million, double the value locked three weeks ago. TON is said to currently hold more than $670 million. data From DefiLlama.

The network has been in the spotlight this year as it has become the preferred solution for Web3 integration for Telegram, which reportedly has over 900 million users worldwide.

The surge in TON network activity can also be attributed to the rising popularity of the cryptocurrency. Mini games you can play on Telegram. Games like Dotcoin, Catizen, and Hamster Kombat employ a simple mechanism that allows users to earn in-game currency that can then be used to earn real token airdrops.

Toncoin, the native cryptocurrency of the TON blockchain, has become the world’s 9th largest cryptocurrency with a market capitalization of $18.5 billion. It is said to be trading at $7.54 at the time of publication. The Block’s Toncoin price page.

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