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- TON successfully integrated USDT across 100+ platforms, driving significant growth in transaction volumes since April 2024.
- The Travala and TON partnership boosts Toncoin adoption in the Web3 ecosystem, enhancing its global utility.
Toncoin (TON) recently met a critical milestone that it established earlier this year. According to data from IntoTheBlock, TON successfully integrated USDT across over 100 sites, demonstrating its ambitious expansion goals.
TON recently achieved the ambitious goal it set earlier this year of integrating USDT across 100+ platforms
The impact of this integration is evident in the USDT transaction volumes on @ton_blockchain , which have shown steady growth since the launch in April this year👇 pic.twitter.com/lMdMR0mizO
— IntoTheBlock (@intotheblock) September 3, 2024
Steady Growth in USDT Transactions Highlights TON DeFi Potential
This feat has had a significant influence on the TON blockchain, with USDT transaction volumes gradually increasing since the integration’s launch in April 2024. The increase in transaction volumes reflects rising faith in the blockchain and its potential utility for stablecoins such as USDT.
Since May, the network has seen an increase in USDT transaction volumes, with a noticeable peak in August. During this month, transaction volumes grew to almost $2.4 billion, indicating greater blockchain activity.
This surge demonstrates TON’s growing significance in the field of decentralized finance (DeFi) and its ability to handle large transactions, making it an important player in the burgeoning stablecoin ecosystem.
On the other hand, prior CNF reports have noted that TON has formed a strategic cooperation with Travala, a popular crypto-based trip booking business. Travala, which operates over 2.2 million properties in 230 countries and supports over 600 worldwide airlines, has partnered with Toncoin.
This alliance is expected to greatly increase TON acceptance inside the Web3 ecosystem. Travala’s integration with the TON network not only adds usefulness to Toncoin, but it also broadens its use case, making it more appealing to users in the travel sector and the larger crypto community.
Furthermore, as we previously highlighted, Tether has worked with TON and Oobit to improve the usage of cryptocurrencies for seamless transactions. This collaboration seeks to merge USDT and XAUT into the TON blockchain, with direct connectivity to Telegram to enable peer-to-peer (P2P) transactions.
This change will make cryptocurrency transactions more accessible, particularly for Telegram users, and will accelerate the widespread acceptance of digital currencies in regular transactions.
Despite these advancements, Toncoin has experienced some recent market setbacks. At the time of writing, TON is trading at $4.59, down 11.11% over the last 24 hours.
This slump occurs as the major cryptocurrency market experiences a bearish wave, resulting in a rapid decline in TON market cap. Toncoin market cap has reduced from $13 billion to around $11.64 billion, making it the tenth largest crypto.
