The TON network has reached a significant milestone by surpassing the $148 million mark in total value locked (TVL), indicating substantial growth.

This achievement comes after a nearly threefold increase in TVL in just one month and a remarkable tenfold surge over the past year. Currently, TON's TVL stands at $146.4 million based on the most recent data.

Leading the growth in TVL for TON-based projects are the Tonstakers liquid staking protocol and the STON.fi decentralized exchange, which have locked in $200 million and $83.4 million, respectively.

Alongside the rise in TVL, the price of Toncoin (TON) cryptocurrency has seen a significant increase of over 61% in a month, with TON trading around $6.25. Throughout April, Toncoin achieved multiple all-time highs, elevating its market capitalization to new levels and propelling it to become the ninth-largest investment, surpassing Cardano (ADA).

The surge in TON's price and TVL is credited to positive developments within the Telegram ecosystem, particularly the partnership between the TON Society developer community and HumanCode, an AI development firm. Prior to the announcement, the TON team teased a "big announcement," creating anticipation and excitement among TON supporters.

These recent accomplishments highlight the growing importance of the TON network in the decentralized finance (DeFi) sector. With its increasing TVL and bullish cryptocurrency, TON seems well-positioned to continue its upward trajectory, fueled by positive advancements and solid community support.