The Open Network (TON) blockchain is one of the networks expected to lead the next DeFi revolution. According to Tonscan datablockchain has exceeded one billion total transactions. This growing momentum is largely attributed to its more than 950 million users who can access TON-based blockchain applications directly from the Telegram messaging app.
Meanwhile, despite being one of the fastest growing blockchains, the network remains underutilized. These are challenges that Elluminex (ELX) is preparing to tackle. The new cryptography project’s mission is to provide DeFi Center to the TON blockchain, allowing more developers and projects to launch on-chain, much like how Uniswap revolutionized Ethereum.
What the rise of the TON blockchain means for Toncoin Crypto
THE Blockchain TON has seen massive growth over the year, overtaking popular blockchains in terms of monthly active addresses. Data from Artemis showed that monthly active addresses increased from around 100,000 in September 2023 to 9.9 million in September 2024, putting TON ahead of Ethereum, which recorded 5.5 million active addresses during the same period.
This growing adoption has been largely driven by its affiliation with Telegram, which has over 1 billion users worldwide. Recent developments within the network have also helped increase its popularity. For example, TON Core and Tonkeeper launched the W5 smart wallet standard in August, enabling gas-free blockchain transactions using USDT for transaction fees.
As blockchain experiences rapid growth, the network’s native coin, Toncoin, has seen a meteoric rise over the year, gaining 181% in price metrics year-to-date. According to CoinMarketCap the data, the Toncoin trading volume is on a massive rally, which could push the Price in TON towards the $10 mark. In their Toncoin Price Prediction in the short term, Coincodex forecasts an increase to $19.
Elluminex – A new DeFi token intended to boost DeFi adoption
With the DeFi sector struggling, which saw other crypto niches like meme coins outperform the sector, Elluminex (ELX) is about to solve the fundamental problems that the DeFi Industry faces. For context, Elluminex is launching a new DeFi Center in the TON blockchain, which will address issues related to fragmented liquidity, high gas fees, complex interfaces, etc.
While the Blockchain TON is one of the fastest growing blockchains, its full potential has yet to be explored. Unlike the others DeFi ProtocolsElluminex not only launches on the TON network, but also brings the cross-chain and bridging solutions necessary for projects to access the network’s vast liquidity. This means more developers and projects will launch on the channel.
Apart from this, the Elluminex DEX is designed to offer low slippage, high liquidity and advanced order types, allowing users to trade seamlessly with little to no slippage and make profits. Users also have access to unique portfolio tracking, which provides real-time data and analytics, allowing traders to trade with insights and earn rewards from one place.
There is also an educational platform to eliminate DeFi illiteracy within the DeFi ecosystem. Coupled with the advanced trading features, users can execute trades efficiently while enjoying a seamless trading experience.
Why Elluminex will champion the DeFi revolution
Data shows that DeFi has the potential to disrupt traditional finance, which has received regulatory scrutiny by providing users with more control and opportunity in the digital ecosystem. Elluminex is leading this effort by leveraging the TON blockchain to provide users with a secure, fast, and scalable environment for DeFi activities. Coupled with the limited total supply of 350 million, Elluminex’s native token ELX is expected to follow the success path of DeFi Tokens like Uniswap.
For more information on Elluminex (ELX), visit the links below:
Website:https://elluminex.com/
Twitter/X: https://x.com/elluminex
Telegram:
