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Apps on the TON Blockchain Have Become Extremely Popular. Is It Sustainable?

This year, games on TON have taken off, garnering hundreds of millions of users in a few months. TON Foundation’s Alena Shmalko and Jack Booth share their insights on how TON, after Telegram had run-ins with the SEC, got here.

The Open Network, aka TON, has been on a tear since late February. TVL has skyrocketed 34x since the beginning of the year, reaching over $750 million as of the time of recording. The price of TON has more than tripled from about $2 to $7, and daily active addresses recently exceeded those of Ethereum in May and June. Games with fun names such as Hamster Kombat and Catizen are gaining traction, and Pantera Capital, an “OG” crypto investor, is making its largest investments yet in TON.

In this episode, Alena Shmalko and Jack Booth from the TON Foundation discuss how TON has managed to garner this traction, especially after a rocky start when the SEC went after the original founder, Telegram.

Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.

What’s Poppin’?

by Juan Aranovich, Sam Sriram and Sage Young

Crypto Market Sees $290 Million in Daily Liquidations

More than 75,500 crypto traders were liquidated over the last 24 hours as prices of major digital assets retraced. 

ETH Drops Under $3,200 as Spot Ether ETFs Record $133 Million Outflows

The price of ether fell more significantly than bitcoin on Wednesday, as outflows from spot ether ETFs topped $133 million.

Solana’s Growth Metrics, Including Stablecoin Supply, Continue to Take Off

Since the beginning of the year, Solana has seen several ecosystem metrics increase substantially, benefiting from Solana’s parallelization capabilities.

Daily Bits… ✍️✍️✍️

• 🔑 Bitstamp will start distributing bitcoin, bitcoin cash, and ether to Mt. Gox creditors beginning today, following the receipt of these assets from the Mt. Gox trustees.

• 💼 Hashdex filed an S-1 registration with the SEC for an ETF that will initially hold bitcoin and ether, with potential to include other assets pending regulatory approval.

• 🇮🇳 India plans to release a discussion paper on its cryptocurrency policy stance by September, following consultations with relevant stakeholders to gather diverse opinions on the matter.

• 🎣 Blast protocol MonoSwap announced it experienced a hack, which compromised a MonoSwap developer's PC through a phishing attack, leading to the withdrawal of most staked liquidity positions and significant protocol damage.

Today in Crypto Adoption...

• 🌾 AgriDex completed its first agricultural trade on the Solana blockchain, moving over 200 olive oil bottles and several wine cases from South Africa to London.

• 🚗 Ferrari is expanding its cryptocurrency payment options to Europe by the end of July, after launching in the US last October.

The $$$ Corner…

• 🛠️ Caldera raised $15 million in a Series A funding round led by Peter Thiel's Founders Fund to develop its "Metalayer" ecosystem, which simplifies the deployment of layer 2 blockchains.

What Do You Meme?

📈 Your Market Update 📉

• BTC is down 3.5%, trading at $64,217

• ETH is down 8.4%, trading at $3,176

• BTC dominance: 52.3%

• Crypto market cap: $2.42T

*All data as of today, 07:17 am ET. Source: CoinGecko

Recommended Reads

Jake Chervinsky, chief legal officer at VC firm Variant, on why “crypto is non nonpartisan”

CoinDesk: Is Donald Trump Insulating Bitcoin’s Price From The Tech Stock Slide?

@0xmiir, an intern at block explorer SolanaFM, on a new draining system hackers are using

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