TON Coin Price Surges 14$ to Reach $7.72 Mark as USDT Stablecoin Circulation Crosses $500M on the Network

ThechartaboveshowshowTONpricehadsurged14$fromthelastweek’slowstoreachthe$7.72markonJune25,beforeconsolidating

TONpricesurged14$fromlastweek'slowstohitthe$7.72markonJune25,beforeconsolidatingaroundthe$7.60levelatthetimeofwritingonJune26.Accordingtomarketreports,toncoin'spricerallycanbeattributedtotherecentlaunchofTether(USDT)stablecoinonthenetwork.ThishasboostedmarketliquidityandensuredthatfundscontinuecirculatingwithintheToncoinecosystem,asinvestorsnolongerneedtorelyonotherblockchainsforonrampingandwithdrawals.USDTCirculatingSupplyonToncoinCrosses$500Min2MonthsThecirculationofUSDTstablecoinsonTheOpenNetwork(TON)hassurpassed500million,accordingtoTheBlock'sUSDTsupplydashboard.Atthetimeofthelatestupdate,therewere519.28millionUSDTstablecoinsontheTONnetwork.ThismilestonecomesroughlytwomonthsafterTetherintroducedtheUSdollar-backedstablecoinonTON,alongwithitsgold-backedstablecoin,XAUT.“ThedemandforUSDT-TONisrapidlyincreasing,whichisunsurprising,”TheOpenNetworknotedinastatementviaitsofficialTelegramchannel.“Theabilitytoseamlesslysenddigitaldollarsglobally,akintosendingatextmessage,showcasesthepracticalutilityofUSDT-TON.”Earlierthismonth,thetotalvaluelockedinTONblockchainsurpassed$600million,showinganincreasefromjustthreeweeksprior.Currently,TON'stotalvaluelockedhasexceeded$670million,basedonDefiLlamadata.

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