The Open Network (TON) blockchain is one of the networks projected to lead the next DeFi revolution. According to Tonscan data, the blockchain has surpassed 1 billion total transactions. This growing momentum is largely attributed to its over 950M users who can access TON-based blockchain applications directly from the Telegram messenger app.
Meanwhile, despite being one of the fastest-growing blockchains, the network remains underutilized. These are challenges that Elluminex (ELX) is about to tackle. The new crypto project is on a mission to bring a unified DeFi hub to the TON blockchain, allowing more developers and projects to launch on the chain, much like how Uniswap revolutionized Ethereum.
What Does The Rising TON Blockchain Mean To Toncoin Crypto
The TON blockchain has witnessed massive growth in the year, surpassing popular blockchains in terms of monthly active addresses. Data from Artemis showed that monthly active addresses grew from around 100,000 in September 2023 to 9.9M in September 2024, putting TON ahead of Ethereum, which recorded 5.5M active addresses during the same period.
This growing adoption has largely been boosted by its affiliation with Telegram, which has over 1 billion users globally. Recent developments across the network have also helped to boost its popularity. For instance, the TON Core and Tonkeeper launched the W5 smart wallet standard in August, allowing gasless blockchain transactions using USDT for transaction fees.
While the blockchain is witnessing rapid growth, the network’s native coin, Toncoin, has witnessed a meteoric rise in the year, gaining 181% in the YTD price metrics. As per CoinMarketCap data, the Toncoin trading volume is on a massive rally, which could push the TON price towards the $10 mark. In their Toncoin price prediction for the short term, Coincodex forecast a rise to $19.
Elluminex – A New DeFi Token Set To Boost DeFi Adoption
With the DeFi sector struggling which has seen other crypto niches like meme coins outperform the sector, Elluminex (ELX) is about to solve the core problems that the DeFi industry is facing. For context, Elluminex is launching a new DeFi hub in the TON blockchain, which will address issues relating to fragmented liquidity, high gas fees, complex interfaces, etc.
While the TON blockchain is one of the fastest-growing blockchains, its full potential still needs to be explored. Unlike other DeFi protocols, Elluminex is not just launching on the TON network but also bringing cross-chain and bridging solutions required for projects to access the vast liquidity in the network. This means that more developers and projects will launch on the chain.
Outside of that, the Elluminex DEX is designed to offer low slippage, high liquidity, and advanced order types, allowing users to trade seamlessly with little or no slippage and earn profits. Users also have access to the unique portfolio tracker, which provides real-time data and analytics, allowing traders to trade with insight and earn rewards all from one place.
There is also an educational platform to eliminate DeFi illiteracy within the DeFi ecosystem. Coupled with the advanced trading features, users can execute trades efficiently while having a seamless trading experience.
Why Elluminex Will Champion DeFi Revolution
Data shows that DeFi has the potential to disrupt traditional finance, which has faced regulatory scrutiny by providing users with more control and opportunities in the digital ecosystem. Elluminex is leading this by leveraging the TON blockchain to provide users with a secure, fast, scalable environment for DeFi activities. Coupled with the limited 350M total supply, the Elluminex native token, ELX, is expected to follow the success path of DeFi tokens like Uniswap.
For more information about Elluminex (ELX) visit the links below:
Website:
https://elluminex.com/
Twitter/X: https://x.com/elluminex
Telegram: https://t.me/Elluminex
