search
Homeweb3.0Pyth Network and The Open Network (TON) Forge a New Partnership to Deliver High-Quality, Real-Time Data to the Expanding TON Ecosystem

Pyth Network has recently announced a strategic collaboration with The Open Network (TON) to deliver high-quality, real-time data to the expanding TON ecosystem.

Pyth Network and The Open Network (TON) Forge a New Partnership to Deliver High-Quality, Real-Time Data to the Expanding TON Ecosystem

Pyth Network, a Web3 oracle solution, has recently announced a strategic collaboration with The Open Network (TON) to deliver high-quality, real-time data to the expanding TON ecosystem.

In a statement, Pyth asserted, “Pyth’s pull oracle is designed to elevate the developer experience on TON by providing applications with the fastest, most efficient, and most reliable data available in Web3.”

At the core of this cooperation is Pyth’s Oracle service, which will be available to developers in the TON blockchain now. This integration is believed to greatly improve the utility of apps that are built on the TON blockchain, especially in the areas of DeFi and gaming. Therefore, Pyth’s real-time prices will help DeFi projects facilitate other financial services at the needed pace and precision to users from around the globe. In the gaming sector for example, the detailed data feeds from Pyth could significantly transform the way engaging and viable games are created.

This partnership comes at a time when TON has been experiencing rapid growth in terms of user numbers, largely due to terminal games that are implemented within the framework of the Telegram messaging application. TON has already entered the market with a total value locked of more than 600 million and it’s paving itself up as a key player in the space. Pyth Network, which was designed for the Solana community, is now integrated with over 70 blockchains with the reported trade volume going past half a trillion dollars.

On August 15, 2024, Toncoin (TON) witnessed significant price gains, largely attributed to its recent inclusion in the Binance Launchpool platform. Over the last ten days, the cryptocurrency has climbed in value remarkably, marking its highest level in nearly four weeks. According to data from Cointelegraph Markets Pro and TradingView, TON surged from a low of $4.78 on August 5 to an intraday peak of $7.26 on August 14, reflecting an over 51% increase. By the time of publication, TON was trading at $6.98—a 10% increase within the preceding 24 hours.

As the eighth-largest cryptocurrency, TON holds a market capitalization exceeding $17.67 billion, with trading volume surging more than 90% in just one day, signaling robust demand across the market.

The price appreciation of Toncoin was triggered by its announcement as the 56th project to be featured on Binance Launchpool. Users can now stake BNB and FDUSD to earn TON tokens, a move that has generated excitement within the trading community. Subsequently, the token experienced another spike after being listed for spot trading on Binance on August 8, where it rose over 14% within a single day, having previously been limited to futures trading only.

The recent partnership between The Open Network and Pyth Network also contributed to the upward momentum of Toncoin’s price. The integration of Pyth’s pull oracle service into the TON ecosystem will allow developers to make on-demand price data requests, enhancing their applications’ appeal and utility.

Michael Cahill, CEO of Douro Labs and a key contributor to Pyth, noted that the price feeds are safeguarded by multiple layers of protection, instilling confidence in TON developers and supporting ecosystems looking to create cutting-edge DeFi solutions that could cater to millions.

This is in line with TON’s continuous growth as a platform, with more users flocking to the platform and engagement in casual gaming on Telegram. Statistics derived from the last three months also show that the daily active addresses (DAA) and daily transactions on TON are higher compared to the Ethereum network.

According to statistics provided by DefiLlama, TON had a TVL increase of about 3,290%, rising from $22.92 million on March 1 and soaring to a record of $776.6 million by July 20. Today the total value locked in TVL equals $597.95 million, it has shown increased user engagement with TON network, which, in turn, increases the demand for Toncoin within its blockchain system.

The above is the detailed content of Pyth Network and The Open Network (TON) Forge a New Partnership to Deliver High-Quality, Real-Time Data to the Expanding TON Ecosystem. For more information, please follow other related articles on the PHP Chinese website!

Statement
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn
Why Catizen and Hamster Kombat Airdrops Are DelayedWhy Catizen and Hamster Kombat Airdrops Are DelayedJul 31, 2024 am 06:13 AM

Lately, there’s been a lot of buzz in the Telegram gaming community about two highly anticipated token airdrops: CATI from the puzzle game Catizen and HMSTR from the viral tap-to-earn game (T2E) Hamster Kombat.

Binance Will List Toncoin (TON) With Seed Tag AppliedBinance Will List Toncoin (TON) With Seed Tag AppliedAug 08, 2024 pm 09:21 PM

Binance will list Toncoin (TON) and open spot trading for the TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY pairs at 10:00 UTC today

TON Core Team Launches W5 Smart Wallet, Enabling Gasless Transactions on #TON and Up to 255 Transactions SimultaneouslyTON Core Team Launches W5 Smart Wallet, Enabling Gasless Transactions on #TON and Up to 255 Transactions SimultaneouslyJul 26, 2024 pm 04:01 PM

As previously discussed in a recent CNF update, Bitget Wallet, the preferred wallet on the TON ecosystem, continues to provide comprehensive support

Solana Meme Coins and Pepe Unchained: A Strategic Evolution in the Crypto SphereSolana Meme Coins and Pepe Unchained: A Strategic Evolution in the Crypto SphereAug 01, 2024 am 03:08 AM

The buzz in the crypto community is palpable as two trailblazers take center stage: Solana meme coins and Pepe Unchained. These digital currencies are reshaping the gaming and investment scenes, opening doors to unprecedented opportunities.

TON (TON) Investors See Massive Losses, Data RevealsTON (TON) Investors See Massive Losses, Data RevealsSep 07, 2024 am 09:18 AM

IntoTheBlock data indicates that 9% of all TON investors are profitable at the moment while 86% of investors are in the red.

Toncoin (TON) and JasmyCoin (JASMY) Promise Huge Gains, But Rollblock (RBLK) Has Already Delivered 100x Returns to Early InvestorsToncoin (TON) and JasmyCoin (JASMY) Promise Huge Gains, But Rollblock (RBLK) Has Already Delivered 100x Returns to Early InvestorsAug 09, 2024 pm 09:35 PM

Since meme coins are losing popularity in 2024, all the buzz is around altcoins right now. Toncoin (TON) and JasmyCoin (JASMY) might be promising huge gains to potential investors, but Rollblock (RBLK) has already delivered 100% gains to early invest

MoonBag: The Best Crypto Coin Presales Phenomenon to Secure Your Investment for a Future 500% ReturnMoonBag: The Best Crypto Coin Presales Phenomenon to Secure Your Investment for a Future 500% ReturnAug 18, 2024 am 03:09 AM

In a world where fortunes can be made overnight, missing out on the next big opportunity is not an option. As blockchain technology evolves, new

DTX Exchange Becomes the Biggest Presale of the Year as Its Presale Rush Bags Millions, Outshining Toncoin and Near Protocol Amid Shifting Market TrendsDTX Exchange Becomes the Biggest Presale of the Year as Its Presale Rush Bags Millions, Outshining Toncoin and Near Protocol Amid Shifting Market TrendsSep 06, 2024 am 03:46 AM

The broader market trend shift has moved altcoins like Toncoin and Near Protocol, while the emerging DeFi platform has seized the opportunity.

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

AI Hentai Generator

AI Hentai Generator

Generate AI Hentai for free.

Hot Article

R.E.P.O. Energy Crystals Explained and What They Do (Yellow Crystal)
2 weeks agoBy尊渡假赌尊渡假赌尊渡假赌
Repo: How To Revive Teammates
1 months agoBy尊渡假赌尊渡假赌尊渡假赌
Hello Kitty Island Adventure: How To Get Giant Seeds
4 weeks agoBy尊渡假赌尊渡假赌尊渡假赌

Hot Tools

PhpStorm Mac version

PhpStorm Mac version

The latest (2018.2.1) professional PHP integrated development tool

Safe Exam Browser

Safe Exam Browser

Safe Exam Browser is a secure browser environment for taking online exams securely. This software turns any computer into a secure workstation. It controls access to any utility and prevents students from using unauthorized resources.

SublimeText3 English version

SublimeText3 English version

Recommended: Win version, supports code prompts!

Dreamweaver CS6

Dreamweaver CS6

Visual web development tools

SublimeText3 Mac version

SublimeText3 Mac version

God-level code editing software (SublimeText3)