USDT-TON Hits $200M Circulation in Less Than a Month

USDt-TON has hit an adoption milestone, hitting a circulation of $200 million within a month of issuance. This growth sets a new record for the fastest token circulation in Tether’s USDt’s history and highlights the growing demand for USDT within the TON ecosystem.

TON announced this achievement via Twitter, stating, “$USDt – $TON reaches $200M in circulation in less than a month after launch, setting a new record as the fastest growing launch in the history of Tether.”

The Tether and TON Foundation partnership was disclosed during the Token2049 crypto conference in Dubai on April 19, signaling an advancement in stablecoin integration.

“Tether Tokens USD₮ and XAU₮ are now live on the Ton blockchain & available in the

@telegram wallet.” Tether posted via X.

The partnership aimed to allow the use of USDT and XAUT for peer-to-peer payments on the TON blockchain, targeting Telegram’s 900 user base. To assure users, the TON blockchain emphasized the simplicity and speed of cross-border payments on its network, likening it to sending a text message on Telegram.

Meanwhile, the TON network recently made another headline in the crypto arena. Data from DefiLlama revealed that the network surpassed the $200 million mark in Total Value Locked (TVL) over the past week. This figure bettered March’s TVL value of $22.9 million by 900%, demonstrating substantial growth and adoption within its ecosystem.

Not long ago, TON moved to launch its protocol integrations and unveil The Open League, a move that attracted significant attention in the blockchain arena. This initiative offers prizes totaling over $150 million in TON tokens to the community and projects operating within the TON ecosystem.

Following this launch, the Open League has sparked improved user engagement with the TON blockchain. For context, the league has triggered a 264% increase in TON’s monthly active users (MSUs) to 1.5 million users. According to data from Coinmarketcap, TON trades at $7.05 during press time, representing a 4.15% intraday increase.