The Tether (USDT) stablecoin has achieved a significant milestone on The Open Network (TON), with its net circulation surpassing 500 million. This rapid growth comes just two months after Tether launched USDT and its gold-backed stablecoin, XAUT, on the TON blockchain.
“The demand for USDT-TON is soaring, and it’s not surprising,” announced The Open Network via Telegram. The network highlighted the ease of sending USDT-TON as a key advantage, comparing it to sending a text message. This functionality caters to real-world needs for transferring digital dollars globally.
The Open Network has witnessed a surge in activity this year. It has become the preferred solution for Web3 integration for Telegram, a messaging platform with over 900 million users worldwide.
Additionally, the rise of crypto mini-games like Dotcoin, Catizen, and Hamster Kombat on Telegram has fueled TON’s network activity. These games allow users to earn in-game currencies that could potentially translate into real token rewards.
The success of USDT on TON has further bolstered the network’s native cryptocurrency, Toncoin. Toncoin has climbed to become the ninth-largest cryptocurrency globally, boasting a market capitalization of $18.5 billion. It is currently trading at $7.54 per coin.
