Toncoin activity explodes on exchanges
The Open Network (TON) has been attracting increasing attention in the cryptocurrency world, mainly due to the significant increase in activity of its native cryptocurrency, Toncoin (TON), on decentralized exchanges (DEX).
Recently, platforms such as STON.Fi, DeDust, and Megaton Finance have seen significant growth in the number of unique transactions and directions, according to data from CryptoQuant. This increase reflects an accelerated adoption of TON network DEXs, cementing their role in the crypto landscape.
STON.Fi stands out as the network’s leading decentralized exchange, responsible for 90% of Toncoin transactions. This dominance positions it as the most relevant DEX in the TON ecosystem, while others, such as DeDust, have lost traction, and Megaton Finance is still struggling to gain greater traction.
STON.Fi’s success is largely due to its community support, which continues to drive liquidity and market activity. While DEX activity has skyrocketed, Toncoin’s price has remained stable between $4 and $8 over the past six months.
Since June 2024, the asset has failed to surpass its all-time high despite a surge in transactions. This suggests that many investors were late to speculate on the token.
As analysts point out, this price stability, amid growing activity on DEXs, may indicate greater retention of tokens by early investors, who have already positioned themselves strategically.
Toncoin's TON Network Scalability
The TON network is distinguished by its modular architecture, which allows for scalability and high transaction processing capacity. Analysts such as Shiven Moodley point out that the network's ability to handle large volumes of transactions efficiently has been a key factor in its growth.
This scalability is essential for the development of new projects within the TON ecosystem, including decentralized applications (dApps) and financial solutions.
Another factor driving the network’s activity is its integration with Telegram, which has a base of 900 million users. This synergy has been fundamental to the adoption of the cryptocurrency and the increase in its daily transactions, which have exceeded 14.4 million in a single day.
Despite the increase in Toncoin activity, the market is still waiting for the asset to appreciate further. The growing adoption of TON network DEXs and the support of major global exchanges such as Binance and Bybit indicate that Toncoin has the potential to stand out even more in the crypto landscape.
However, price developments will depend on how the ecosystem copes with growing demand and whether new initiatives such as airdrops and memecoin launches continue to attract users to the network.