Toncoin price poised for prolonged rally as the TON network surpasses $1 billion USDT issuance, boosting liquidity and engagement

The large circulation of USDT on the TON blockchain boosts liquidity, making it easier for users to trade, exchange, and store value within the network. Toncoin price is 8% away from a major breakout of the three-month resistance trendline. TON's Total Volume Locked (TVL) surge to $400M implies growing confidence in the network's DeFi ecosystem.

The Toncoin price plunged 4.6% in the last 48 hours. This weekend’s pullback will likely assist buyers in recuperating the bullish momentum as Bitcoin obtains a firm foot above $60000. With TON reaching a $1 billion USDT issuance, the network will likely experience increased engagement and activity.

According to Tether’s official transparency page, the authorized issuance of USDT on the TON blockchain has exceeded $1 billion, reaching a total of $1,030,000,002. Out of this amount, approximately -$309,325,516.46 are authorized but issued, while the net circulation support is at $712,158,737.86.

This milestone shows the increasing demand for stablecoin on the TON blockchain. As USDT plays a pivotal role in cryptocurrency transactions, its ample supply should boost liquidity, making it easier for users to trade, exchange, and store value within the network. This would drive user activity and engagement in the TON network and potentially drive demand for its native cryptocurrency.

By press time, the Toncoin price traded at $5.5, registering an intraday loss of 1.34% and a market cap of $14.18 Billion.

Moreover, the Total volume locked in TON has surged from $317.15 to $405— a 27.7%. The TVL surge indicates increasing capital flow and investors’ interest in Toncoin’s DeFi applications.

Here is the source to the claim: https://tether.to/en/transparency/?tab=usdt

What are your thoughts on this .? Are you guys holding TON ? . Comment down below Show Less