- Reduced Transaction Fees On TON Dropped From $0.061 To $0.035, Encouraging Frequent Transactions And Micropayments.
- TON Integrated With Telegram, Expanding Its Ecosystem With Over 500 Apps Including DeFi And NFT Platforms.
The Open Network (TON) has witnessed a significant expansion in the use of the USDT stablecoin, indicating robust activity and increasing trust in the network’s stability and efficiency for handling transactions.
Data from CryptoQuant underscores this growth, showing that the volume of USDT circulating on TON has doubled in just four months, from 500 million in June to over 1 billion by October.
This surge aligns with TON’s reduced transaction fees, which have dropped from $0.061 to $0.035 on average, enhancing the network’s appeal for frequent transactions and micro-payments.
TON’s attraction is further amplified by its integration with Telegram, which has introduced digital asset functionalities to its over 900 million active users, contributing significantly to the network’s ecosystem expansion.
The network supports a diverse array of over 500 applications, including platforms for creating memecoins, wallets, exchanges, video games, staking platforms, DeFi protocols, and non-fungible tokens (NFTs).
Such versatility underscores TON’s capacity to not only facilitate large-scale transactions but also cater to a variety of decentralized applications.
Paolo Ardoino, Tether’s CEO, remarked on the integration of USDT into TON, noting that it facilitates smoother value transfers and enhances liquidity across the network.
This integration is pivotal as it supports not just gaming and entertainment projects but also substantial financial transactions with stablecoins.
The current market cap of USDT stands at $120 billion, with projections suggesting it could reach $200 billion during a potential market rally, reflecting a growing confidence in fast, low-cost networks like TON for managing digital currencies.
CryptoQuant’s analysis further highlights that in the past 30 days alone, TON processed over 3.25 million USDT transactions. This volume significantly surpasses transactions involving other tokens on the network, such as Catizen’s CATI and Rocky Rabbit’s RabBitcoin, which underscores USDT’s dominant role on the platform.
As the market evolves, the increasing issuance and utility of USDT on TON are set to attract more users seeking efficient and reliable transaction solutions, potentially driving further growth in TON’s digital asset activities.
