USDT Volume on TON Network Exceeds $1 Billion, Growing by 670% in Six Months
Date: 2024-11-05 Author: Henry Casey Categories: CRYPTO PAYMENTS
Over the past six months, the volume of USDT transactions on this network has increased by 670%, exceeding the $1 billion mark. Such data was provided by CryptoQuant analyst Burak Kesmeci, noting that users are increasingly inclined to use the TON network for transactions with this stablecoin.
Back in May 2024, the volume of USDT on the TON blockchain was $130 million, but today it has reached $1.02 billion. Some experts predict that this significant growth may affect the TON cryptocurrency rate, but so far its value remains relatively stable.
The current price of the TON token is around $4.78, down 41.8% from its all-time high of $8.28 in June 2024. Between May and June of this year, the TON price jumped by 80%, but then fell back to its current level.
Burak Kesmeci also highlighted several factors that continue to drive the growth of TON and other decentralized platforms that support stablecoins. He notes that the global acceptance of stablecoins, which are increasingly used for international transfers and personal transactions, plays a key role in this process. For example, in South Korea, about 10% of commercial payments are already made using USDT, indicating growing demand for this asset in different countries.
