Amidst a surge in ecosystem expansion and heightened user interest, the value of Toncoin is steadily approaching its peak historical price. On a recent Tuesday, TON’s value escalated to **$8.10**, just shy of its record high of **$8.30**. From its 2023 nadir, it has witnessed an astronomical rise of nearly **800%**, elevating its market capitalization to the vicinity of **$20 billion**.
**Toncoin’s Price Trajectory**
**TON Outpaces Avalanche in the DeFi Arena**
The TON network is experiencing dynamic growth across multiple domains, rapidly gaining traction and emerging as a formidable force in the decentralized finance (DeFi) sector. According to DeFi Llama’s aggregation, the total value locked (TVL) within the network has seen a **70%** increase over the last month, surpassing **$1.13 billion**.
This surge positions TON as the eighth-largest blockchain, following giants like Ethereum, Solana, Tron, Binance, Arbitrum, Base, and Blast. Remarkably, TON has surpassed industry stalwarts, including Avalanche with its **$1.11 billion** in assets, on Tuesday. It has also eclipsed other prominent blockchains such as Polygon, Optimism, Sui, Cronos, and Near.
The TON ecosystem’s dApps have been bustling with activity, with DeDust’s TVL skyrocketing by nearly **300%** to over **$375 million**. Similarly, STON.fi, Tonstakers, bemo, and Stakee have all experienced growth exceeding **30%**.
**Staking Enthusiasm for Toncoin**
Toncoin has also carved a niche as a favored staking token. StakingRewards data reveals that its staking market cap has climbed to **$4.7 billion**, ranking it as the ninth most staked token in the sector.
**The Rise of Tap-to-Earn Platforms**
The valuation of Toncoin has been bolstered by the thriving tap-to-earn ecosystem. Notcoin, the sole tap-to-earn entity available for public trading, has attained a market capitalization exceeding **$1.4 billion**. TapSwap, another rapidly expanding game, boasts a user base of over **60 million** globally.
Hamster Kombat, a game with Russian ties, has become the industry’s fastest-growing game, amassing over **200 million** players. Its YouTube channel has set new benchmarks, garnering over **30 million** subscribers in just a month, with video views surpassing **500 million**.
Other tap-to-earn platforms like AvaCoin, DotCoin, and YesCoin are also experiencing significant growth, attributed to their user-friendly interfaces and the allure of substantial rewards post-airdrop.
In the foreseeable future, these tap-to-earn networks are set to initiate their airdrops on the TON Blockchain, further stimulating network activity. However, Toncoin’s expansion is not without its risks.
**Volume Concerns for Toncoin**
Recent data indicates that Toncoin’s daily trading volume has been consistently low. Since June 15th, it has not exceeded **$800 million**—a modest figure for a token with a **$20 billion** valuation, especially when smaller tokens like Pepe and Dogwifhat experience higher daily volumes.