Thanks to its integration with Binance, BNB has become one of the biggest players in decentralized finance. Binance, the world’s largest exchange, has seen steady growth along with the rest of the cryptocurrency markets. Now, another token is aiming to repeat its success.
TON was the fastest growing network last year, seeing a staggering 800% growth in TVL. Now, DeFi hub Elluminex aims to enhance its capabilities.
BNB expands with new initiatives
Binance utility token BNB Bank It has witnessed steady growth over the past year. As cryptocurrency markets become more active, BNB has benefited from its integration with Binance. Year after year, token More than doubleIt is currently trading at $682.
Recent data suggests that BNB could rise further. In December, cryptocurrency trading volumes on centralized exchanges reached a record high of $3.72 trillion. Unsurprisingly, Binance remains the market leader, capturing the lion’s share of traffic. This has helped raise BNB’s valuation.
BNB developments do not stop there. The project is expanding in multiple directions. Recently, just in time for the launch of the next potential memecoin, BNB is also expanding into the industry. BNB recently announced A no-code platform for launching coins. The Memecoin Solution will allow anyone to create their own memecoins, making the process as easy as pressing a few buttons.
While Binance has traditionally been skeptical of memecoins, the recent launch of the official Trump token demonstrates their potential. A new memcoin launchpad could help BNB beat Solana in this space, helping to boost its growth.
TON sees major developments in the ecosystem
cable Tons It positions itself as the leading blockchain for DeFi and dApps. Thanks to its deep integration with the messaging app, TON can reach 950 million users, offering diverse use cases. Recently, the project has taken several steps to take advantage of this potential.
For example, TON has taken several major steps to strengthen its position Cross-chain compatibility. This is key, as it enhances functionality and efficiency across blockchain networks. Moreover, TON has taken steps to enhance its usefulness to users.
In July, the Open Network Foundation also partnered with 1inch and Sign to launch its own foundation Web3 Acceleration Triangle. This move will help strengthen the TON ecosystem, by bringing in new and innovative projects.
Elluminex to put TON into overdrive
Although TON has taken important steps towards cross-chain interoperability, there is still room for improvement. This is what the TON-based DeFi platform does Illuminex Hoping for a solution. Elluminex is a DeFi hub that enables cross-chain swaps across 40 major blockchains.
This ability not only leads to a better user experience. It also greatly enhances TON’s liquidity and reduces slippage on the exchange. Liquidity and low slippage are key considerations for traders, as they make trades more efficient. For example, high-frequency traders rely on low slippage to make their profits.
By taking advantage of cross-chain bridges, Elluminex wants to make trading more efficient. This will help attract more traders to TON, stabilizing prices and leading to more market confidence. For this reason, Elluminex is in a great position to benefit from the growing TON ecosystem, just as BNB benefits from Binance.
For more information about Eluminex (ELX) visit the links below:
Disclosure: This is a sponsored press release. Please do your research before purchasing any cryptocurrency or investing in any project. Read the full disclosure here.
