Toncoin price stumbles while TON ecosystem achieves significant milestones
Disclaimer: The information presented in this article should not be considered as investment advice. The content provided here is solely for educational purposes.
Despite a price dip to $7, Toncoin’s ecosystem has reached a remarkable milestone with a total value locked (TVL) of $600 million. This growth represents a 130% increase in just under a month, which is believed to be driven by the success of its mini apps.
However, Toncoin experienced a significant drop in price on Tuesday, falling by almost 10% and reaching its lowest level since June 12. This decline amounts to a decrease of more than 15% from its peak. Despite this setback, Toncoin supporters remain optimistic and expect positive movements in the ecosystem and the coin.
Analysts believe that the growing TVL and the upcoming launch of TapSwap, a popular Telegram tap-to-earn platform, could propel Toncoin to new heights. TapSwap, a Tap-2-Earn Telegram mini app with over 26 million social media followers, chose Toncoin for its speed and low transaction costs.
Another exciting project launched on the TON blockchain is Simple-Ton, a new venture aiming for explosive growth within the ecosystem. Inspired by the beloved SpongeBob universe, Simple-Ton Coin leverages the Jetton Smart Contract to provide an engaging experience for its community.
To ensure transparency and security, the Simple-Ton team has taken two measures. Firstly, they have fully renounced ownership of the contract, ensuring that no single entity can control or alter it. Secondly, they have burned the liquidity pool, eliminating the risk of rug pulls and creating a secure trading environment for the community.
Simple-Ton’s current growth and appeal are reminiscent of another top memecoin on the TON blockchain, Resistance Dog (REDO). With a market cap of $109.76 million and a 24-hour trading volume of $5.74 million, REDO has experienced significant growth, attracting both new and experienced investors.
With its current approach and robust security measures, Simple-Ton is aiming for substantial growth in a similar fashion. However, only time will tell what the future holds for this project.
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