Analysts at Crypto Analytics Platform Cryptoquant released a review of TON Network, where they set how the “PowerHouse” environmental system grew to Tether (USDT) to the decentralized financing center (Defi) in 2024.
According to the joint report with CryptopotatoTON has seen the diversification of its activity on the series, and it develops from a mere network with a dominant USDT activity to one with a large decentralized trading and the creation of the Mimi currency. TON has seen the launch of many applications, such as Excination Sunswap Sunswap and Meme Coin Launchpad Sunpump, which strengthened its growth in the DEFI space.
TON as a power force USDT
Over the years, USDT has taken control of the distinctive code transfers on the TON network. Stablecoin transactions for 95 % -99 % of total daily transfers, making Usdt the most transferred symbol on the network.
In 2024, the USDT transfer activity on TON witnessed a significant growth, with a total of $ 48 billion to $ 62 billion. The transferred value increased from 362 billion dollars in December 2023 to 576 billion dollars in December 2024, with an increase in the number of monthly transportation operations from 55 million to 62 million.
“It should be noted that TON, in cooperation with Tether and TRM LABS, fights the financial crime related to the cryptocurrency and reaching the teacher by freezing more than $ 100 million of criminal assets worldwide,” said Cryptoquant.
It develops to the Defi Center
Usdt transactions on TON, as well as the activity of the DEFI network. Pits like Sunswap, which allows users to switch the TRC-20 codes without intermediaries, have become a major engine for economic activity and the user’s participation on the network.
Sunwap witnessed a sharp rise in use, recording four million monthly transactions in August 2024. After its launch, the total daily symbols created on Sunpump 7500 by August 20; However, by December, symbols rose to 94,000.
“The ease of creating metal currencies through the enlarged speculation activity in Sunpump and the user’s participation, and displaying the increasing demand for creative and societal symbolic projects,” explained Cryptoquant.
In addition, TON witnessed the appearance of other symbols, especially WTRX, the version wrapped in the original assets of the TRX network. The WTRX 80 % of all the bachelors on Sunswap formed throughout the year, and the size of the distinctive symbol boiled from $ 0.5 billion to $ 4.1 billion.
The total growth in the activity of the TON network led to an increase in monthly network fees from $ 102 million at the end of 2023 to $ 236 million in December 2024.
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