TON ecosystem’s TVL hits $600m, despite Toncoin’s price dip to $7, sparking future optimism.

On June 17, 2024, the TON ecosystem achieved a significant milestone by reaching a $600 million in total value locked (TVL). This growth helped the blockchain register a 130% growth in just under a month. Many in crypto community are of the opinion that the network’s growth and current appeal is largely driven by the success of its mini apps.

However, despite this noteworthy development, Toncoin’s price nosedived on Tuesday. It fell by almost 10%, bottoming at $7. This happens to be its lowest level since June 12. As a result, Toncoin has slipped by more than 15% from its highest point.  

Nevertheless, Toncoin enthusiasts believe that the setback is temporary and anticipate that positive movements are in store for the ecosystem and the coin.