The viral success of the TON blockchain is largely due to its connection with the Telegram messaging app. More than 950 million Telegram users can access TON-based blockchain applications directly through the messaging app. This dynamic presents a huge opportunity for DeFi to reach a wide audience.

The Potential of TON and Telegram

According to the GSR report published on October 17, the The  Open Network+Telegram ecosystem has the potential to enable DeFi adoption not only in the gaming and social segments, but also by non-crypto audiences. The report stated:

“While the attention around The Open Network has generally focused on gaming and social applications, we believe the TON+Telegram ecosystem presents a huge opportunity for DeFi that needs to expand beyond crypto-specific audiences.”

This forecast is considered a promising sign for the DeFi sector at a time when the DeFi sector has been underperforming compared to memecoins and smart contract platform-based tokens.

DeFi Sector Going Through Tough Times

According to Artemis data, between January 2022 and September 2023, tokens connected to DeFi protocols fell by 72%, while memecoins lost 35% and smart contract-based tokens lost 48%. This weak performance of DeFi raises expectations that new technologies like TON could revitalize the sector.

TON Surpasses Ethereum and L2

Thanks to its increasing adoption rate, TON has surpassed many popular blockchains in terms of active addresses. According to the report, the number of monthly active addresses on the network increased from 100,000 in September 2023 to 9.9 million in September 2024 after Telegram introduced its integrated wallet.

Might interest you: What is BabyDoge?

This increase put TON ahead of Ethereum with 5.5 million active addresses in September 2024. It also ranked ahead of Ethereum layer-2 (L2) networks such as Arbitrum, OP Mainnet, and Polygon PoS. However, the report also noted that Coinbase’s Base blockchain and Solana still have more active users than TON.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post TON Could Help DeFi Go Mainstream: Report appeared first on Coin Engineer.

The investor made a profit of 107,275 SOL, or approximately $606,000, by selling 881,000 REDO tokens. This transaction shows that the investor made a 12x profit on his initial investment in REDO. It is also considered one of the most profitable trades in the TON ecosystem.

The latest surge occurred when TON Blockchain adopted the Resistance Dog logo. This move was made in support of Telegram CEO Pavel Durov’s arrest in France. The token price rose to $0.94 today, and many investors took advantage of the opportunity. However, some community members turned to other tokens as Telegram came under scrutiny.

You may also be interested in: Latest Situation in Bitcoin and Cryptocurrencies – August 26

The investor’s success was not limited to REDO. He also made significant gains on other meme coins in the TON ecosystem. In particular, he made 5,207 TON, or $29,400, from his transactions with Ton Inu (TINU), and made a 35x profit on the TINU meme crypto sale.

In addition, he made 3,118 TON, or $17,600, from his transactions with Paper Plane (PLANE), and made a 62x profit. In total, the investor made 11 meme coin transactions and achieved a 54.5% success rate. According to blockchain analytics firm Lookonchain, the total profit he made from these transactions was 115,387 TON, or approximately $652,000.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Crypto Investor Makes 12x Profit with TON Ecosystem Tokens appeared first on Coin Engineer.