Coin

<ul class="wp-block-list news-points">
 <li>The USDT volume on the TON network has surpassed $1 billion.</li>
 <li>TON network’s USDT transaction volume surged 670% in six months.</li>
 <li>Analysts expect the TON network’s increased adoption to affect its token’s price positively.</li>
</ul>
The USDT volume on the TON network has crossed $1 billion, according to Burak Kesmeci, a Cryptoquant analyst. Kesmeci reported that the TON network’s USDT volume surged 670% in six months, showcasing users’ growing preference for the Telegram-based blockchain for stablecoin transactions.
<div class="wp-block-image">
 <figure class="aligncenter size-full is-resized"><img decoding="async" width="594" height="671" src="https://coinedition.com/wp-content/uploads/2024/11/image.png" alt="" class="wp-image-539557" style="width: 100%;height:auto" srcset="https://coinedition.com/wp-content/uploads/2024/11/image.png 594w, https://coinedition.com/wp-content/uploads/2024/11/image-266x300.png 266w, https://coinedition.com/wp-content/uploads/2024/11/image-380x429.png 380w, https://coinedition.com/wp-content/uploads/2024/11/image-79x89.png 79w, https://coinedition.com/wp-content/uploads/2024/11/image-394x445.png 394w, https://coinedition.com/wp-content/uploads/2024/11/image-219x247.png 219w, https://coinedition.com/wp-content/uploads/2024/11/image-212x240.png 212w, https://coinedition.com/wp-content/uploads/2024/11/image-146x165.png 146w, https://coinedition.com/wp-content/uploads/2024/11/image-187x211.png 187w, https://coinedition.com/wp-content/uploads/2024/11/image-62x70.png 62w, https://coinedition.com/wp-content/uploads/2024/11/image-66x75.png 66w" sizes="(max-width: 594px) 100vw, 594px">
 <figcaption class="wp-element-caption">Source: <a href="https://x.com/cryptoquant_com/status/1852813431608639819" target="_blank" rel="noopener noreferrer nofollow">Twitter</a>
 </figcaption>
 </figure>
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In May 2024, TON held $130 million in USDT stablecoins, which has since risen to $1.02 billion. This spike has led several crypto analysts to project how the increase could influence TON’s price.
The rising stablecoin transaction volume on TON has yet to affect its native token’s price. TradingView <a href="https://www.tradingview.com/x/Aq1RZqpC/" target="_blank" rel="noopener noreferrer nofollow">data</a> shows TON is currently trading at $4.83, under bearish pressure.
The TON token’s price trend contrasts with the increase in stablecoin transactions. TON’s current price is 41.8% below its all-time high of $8.28 set in June 2024. However, the token’s price history indicates potential stabilization after finding support …
The post <a href="https://coinedition.com/ton-networks-usdt-volume-crosses-1-billion-up-670/" rel="noopener noreferrer nofollow">TON Network’s USDT Volume Crosses $1 Billion, Up 670%</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

TON Network’s USDT Volume Crosses $1 Billion, Up 670%

Coin Edition

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