The market supply of USDT issued on The Open Network (TON) has approached $520 million.
This milestone was reached approximately two months after the company behind the most popular stablecoin, Tether added support for the TON blockchain.
“Demand for USDT-TON is growing rapidly, and it is not surprising,” reported representatives of The Open Network in their Telegram channel.
They added that sending “stablecoins to anyone, anywhere is as easy as sending a text message.”
The TVL of the dapps ecosystem based on TON is approaching $700 million, according to DeFi Llama.
The exponential growth of this metric is largely attributed to the phenomenal popularity of clicker games like Notcoin and Hamster Kombat.
The integration of Web3 into a messenger with a user base exceeding 900 million has positively impacted the price of the Toncoin token, which has secured the ninth position in CoinGecko’s ranking with a market capitalization of $37.8 billion.
Previously, Tether ceased issuing USDT on EOS and Algorand.