In a significant move that has caught the attention of the DeFi community, a prominent crypto whale has shifted their investment from Toncoin to DTX, signaling DTX as the next major player in decentralized finance. This strategic reallocation highlights the growing interest and potential in DTX’s innovative solutions within the blockchain ecosystem.
Revamping Toncoin: The evolution of Telegram’s blockchain venture
Originally developed in 2018 by Telegram, the encrypted messaging service, Toncoin (TON) began as a decentralized layer-1 blockchain called the “Telegram Open Network.” The project was later discontinued by Telegram but revived by the TON Foundation, who rebranded it as “The Open Network.”
The renaissance of the network since 2020 has been driven by a non-commercial collective of enthusiasts and supporters known as the TON Foundation. The cryptocurrency of the network, initially called Gram, is now known as Toncoin.
The foundational goal of TON was to integrate the blockchain into a user-friendly application enabling users to effortlessly buy, send, and store funds. Toncoin, utilized for transaction fees and payment settlements, employs a proof-of-stake (PoS) consensus model, enhancing the network’s scalability and reliability.
Understanding the TON Foundation’s new incentive program with Tether
The TON Foundation recently revealed a new incentive program in collaboration with Tether, aiming to boost the integration of USDT on the TON network. An allocation of 11 million Toncoin (TON) is set aside to reward early adopters of USDT on their platform. This initiative seeks to promote the widespread use of the stablecoin online.
As part of the program, 5 million TON are dedicated to enhancing rewards in the liquidity pools on the decentralized platforms DeDust and STON.fi. Additionally, another 5 million tokens will be given to users engaging with USDT through the Wallet’s Earn campaign.
To facilitate commission-free transactions, 1.2 million Toncoin will support free fund withdrawals via centralized partner exchanges of TON. This allows users to buy USDT or any blockchain-based asset and transfer it to the TON network without incurring fees.
According to data from CoinMarketCap, Toncoin’s value peaked at $7.21 earlier today before settling at $6.43 per coin, giving it a market cap of $22.3 billion.
The value of TON saw a notable decline today following an announcement by Telegram Founder Pavel Durov about the potential tokenization of stickers on the platform. Under this new scheme, sticker creators could earn 95% of the revenue generated from sales using the TON blockchain.
Whale shifts from Toncoin to DTX, labels it a DeFi game changer
A notable shift in the cryptocurrency sector has been observed as a prominent whale transitions from Toncoin to DTX, touting it as the emerging star in the decentralized finance (DeFi) space. DTX’s strong technological infrastructure is tailored to enhance transaction efficiency and reduce costs, key attributes as the crypto market continues to expand and evolve. Analysts believe that DTX’s innovative features may distinguish it in a saturated market, positioning it as a compelling investment opportunity.
The momentum for DTX grew significantly after a prominent Binance Coin (BNB) investor, who recently invested $50,000, predicted a potential 25-fold increase in its value. This significant endorsement marks DTX as a critical asset to watch in the anticipated bull market, underscoring its potential as a significant player in the digital currency arena.
The initial presale of DTX has exceeded expectations, collecting over $120,000 and boosting investor confidence. The platform, offering up to 1000x leverage on various assets, is emerging as a leader in high-frequency trading.
DTX further enhances its allure by removing KYC requirements while complying with international financial regulations, ensuring a secure yet user-friendly trading environment. With the presale price currently at $0.02 and expected to rise to $0.075 in the next phase, DTX Exchange is gearing up for considerable growth.
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