This article examines the possibility that the TON blockchain will soon dominate the market and Elluminex will champion the DeFi market revolution.
The Open Network (TON) blockchain, a layer 1 blockchain linked to Telegram, is one of the fastest growing networks with over 950 million active users. Having reached 100 million unique wallet addresses with non-zero balances in October, TON is seen as the key to unlocking mainstream adoption of cryptocurrencies and decentralized finance.
As the TON blockchain grows at a faster rate, Elluminex (ELX) is poised to amplify the growth by bringing DeFi to the TON network, which is currently very limited. With the DeFi market facing liquidity issues that many DeFi protocols have attempted to address, Elluminex aims to address all issues through a unified DeFi hub on the TON blockchain.
What future for the Ton blockchain?
Although the TON blockchain has continued to experience massive growth, its native token, TON, has failed to meet expectations, with the token declining by 2% in the past week. According to CoinMarketCap, Toncoin price has only gained 7% over the 30D time frame, with the altcoin struggling to break above the crucial $7 resistance trendline over the past few weeks.
Crypto market observers attribute this struggle to the arrest of Telegram CEO Pavel Durov in September, which created ripples in the market. However, popular gurus believe that Toncoin crypto will rebound during this bull season. According to Natalie Dormer, a prominent analyst on X, if the Toncoin token can rise above $6.30, it will face a challenge towards $6.45.
Dormar claimed a rise above that could push the Toncoin crypto towards $7.23. More than 20 technical indicators are positive and Toncoin trading volume is increasing, which will trigger further rallies. With Elluminex offering a unique DeFi hub on the blockchain, network adoption will likely increase in the coming months, which will invariably increase the price of the altcoin.
Elluminex – A game changer in the TON blockchain
With liquidity issues being a major problem in the DeFi protocol, Elluminex (ELX) is set to solve this problem by launching a unified DeFi hub on the TON blockchain. This aims to address issues related to fragmented liquidity, high gas fees, complex interfaces, and limited access to early-stage investment opportunities that have prevented DeFi from reaching its full potential.
Leveraging the power of the TON blockchain, Elluminex will deliver unparalleled speed, security and scalability while enabling over 950 million active users to trade seamlessly with little to no slippage and earn profits. With this, more developers and projects will be launched on-chain, similar to what Uniswap offers to the Ethereum ecosystem.
The Elluminex DEX is designed to offer low slippage, high liquidity and advanced order types, giving users control of their assets. The cross-chain bridge also offers users a wide range of trading opportunities, while the unique portfolio tracker offers real-time data and analytics, allowing users to trade with insights and earn rewards from from one place.
Given the advanced trading features, users will also be able to execute trades efficiently while enjoying a seamless trading experience. Outside of trading, Elluminex also has an educational platform designed to educate people about the DeFi landscape. All these features are designed to boost the ELX project, which is expected to soon dominate the DeFi market.
Can the ELX token soon dominate the DeFi market?
The deflationary nature and total supply limited to 350 million means that shortage of ELX tokens is imminent in the coming weeks. Looking at what Uniswap has brought to the Ethereum ecosystem and what Elluminex plans to achieve in the TON blockchain, there is a clear indication that demand for the token will increase in the coming months, thereby increasing the price of the ELX.
For more information on Elluminex (ELX), visit the links below:
Website: https://elluminex.com/
Twitter/X: https://x.com/elluminex
Telegram:
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