Toncoin Price Increased 40.9% in Q2 2024 – CryptoMode

The Toncoin price has shown the largest increase of all coins in the blockchain category.

According to CryptoRank, the price of Toncoin increased by 40.9% in Q2 2024. In second place in the blockchain coin category is Kaspa with an increase of 36.6%. Everscale is in third place with a price increase of 33.9%.

Ranking of coins by growth in Q2 2024. Source: CryptoRank

Why is Toncoin price rising?

The Open Network, abbreviated as TON, is one of the most talked about blockchains in 2024. One area where the project is gaining popularity is decentralized Click-to-Earn games.

One such Web3 game is Hamster Kombat, which attracts users with its simplicity. To play and earn tokens, you need to click.

Another popular game on the TON blockchain is Catizen. On June 16, the game reported 20 million players in the Telegram bot.

Moreover, this decentralized game is available on Mantle, which helped it process 2.8 million transactions. Read more about how the TON blockchain is becoming popular in the GameFinance (GameFi) space and how the Telegram messenger helps with this.

Ton showed one of the best TVL growths in the DeFi Top 20

According to DeFiLlama, TON’s Total Value Locked (TVL) rose by 114% in a month in Decentralized Finance (DeFi). This was one of the best performances, while giants such as Ethereum (ETH) and Solana (SOL) fell by 9.83% and 6.27% respectively.

Earlier we wrote that the TON network has grown by 50% in Total Value Locked since launch on July 1st. TVL currently stands at $701.3 million.

Ranking by DeFi’s TVL. Source: DeFiLlama

Ton Tokens Keep Trending on DEX

According to GeckoTerminal, TON tokens are among the top 10 most popular tokens on decentralized exchanges (DEX).

For example, the trading pair McTONNalds with TON is in third place, after growing 303.36% in the last 24 hours.

Traditionally, Notcoin (NOT) has been included in this top 10 with TON. It currently ranks 5th with a trading volume of $854.29.

Ranking trending pools by DEXs. Source: GeckoTerminal