Disclaimer: This article is not intended as investment advice and is solely for educational purposes.
Despite a dip in Toncoin’s price to $7, the TON ecosystem’s total value locked (TVL) has reached a remarkable milestone of $600 million on June 17, 2024. This growth signifies a 130% increase in less than a month, and experts attribute the network’s success to its mini apps.
However, the recent drop in Toncoin’s price by nearly 10% on Tuesday to its lowest level since June 12 has raised concerns. The cryptocurrency has declined by over 15% from its peak. Nonetheless, supporters of Toncoin remain optimistic, viewing this setback as temporary and anticipating positive future movements for both 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 due to its speed and low transaction costs.
Another noteworthy project on the TON blockchain is Simple-Ton, which aims to make a significant impact on the ecosystem. Inspired by the beloved SpongeBob universe, Simple-Ton Coin utilizes the Jetton Smart Contract to create an engaging experience for its community.
The Simple-Ton team has prioritized transparency and security by implementing two measures. First, they have renounced ownership of the contract, ensuring that no single entity can control or modify it. Second, they have burned the liquidity pool to eliminate the risk of rug pulls, providing a secure trading environment for the community.
Simple-Ton’s growth and appeal are comparable to another prominent memecoin on the TON blockchain called Resistance Dog (REDO). With a market cap of $109.76 million and a 24-hour trading volume of $5.74 million, REDO has experienced substantial growth, attracting both new and experienced investors.
With its current strategy and robust security measures, Simple-Ton is following a similar path towards significant growth. However, only time will tell what the future holds for this project.
Read more:
Here’s why Toncoin’s price is surpassing its competitors.
Disclaimer: The content provided in this article is from a third-party source. crypto.news does not endorse any products mentioned on this page. Users are advised to conduct their own research before making any decisions related to the company.