What’s Next For Toncoin? See How Elluminex Is Changing The Game

The Open Network (TON) blockchain, a layer-1 blockchain linked to Telegram, is one of the fastest-growing networks with over 950M active users. Having reached 100M unique wallet addresses with non-zero balances in October, TON is seen as the key to unlocking the main adoption of cryptocurrencies and decentralized finance.

With the TON blockchain growing at a faster pace, Elluminex (ELX) is about to amplify the growth by bringing DeFi to the TON network, which is very limited at the moment. With the DeFi market facing liquidity problems which many DeFi protocols have tried to resolve, Elluminex aims to resolve all the issues through a unified DeFi hub on the TON blockchain.

What Next For The Ton Blockchain?

Although the TON blockchain has continued to witness massive growth, its native token, TON, has not lived up to expectations, with the coin declining by 2% in the past week. As per CoinMarketCap, Toncoin’s price has gained just 7% in the 30D timeframe, with the altcoin struggling to break through the crucial $7 resistance trendline in the past weeks.

Crypto market watchers attribute the struggle to the arrest of Telegram CEO Pavel Durov in September, which created ripples in the market. However, popular gurus believe the Toncoin crypto will bounce back in this bull season. According to Natalie Dormer, a prominent analyst on X, if the Toncoin token can break through $6.30, it will mount a challenge towards $6.45.

Dormar claimed a rise above that could push the Toncoin crypto towards $7.23. Over 20 technical indicators are positive, and the Toncoin trading volume is surging which will trigger more rallies. With Elluminex coming up with a unique DeFi hub in the blockchain, the network adoption will likely rise in the coming months, which will invariably boost the price of the altcoin.

Elluminex – A Game Changer In The TON Blockchain

With issues of liquidity being a major problem in DeFi protocol, Elluminex (ELX) is about to address that by launching a unified DeFi hub on the TON blockchain. This aims to address issues relating 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 offer unparalleled speed, security, and scalability while allowing the over 950M active users to trade seamlessly with little or no slippage and earn profits. With that, more developers and projects will launch on the chain similar to what Uniswap is offering to the Ethereum ecosystem.

The Elluminex DEX is designed to offer low slippage, high liquidity, and advanced order types, giving users control over 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 insight and earn rewards all from one place.

Given the advanced trading features, users will also be able to execute trades efficiently while having a seamless trading experience. Outside trading, Elluminex also has an educational platform designed to educate people on the DeFi landscape. All these features are designed to boost the ELX project, which is tipped to dominate the DeFi market soon.

Can The ELX Token Dominate The DeFi Market Soon?

The deflationary nature and the limited 350M total supply mean that the ELX token scarcity is imminent in the coming weeks. Looking at what Uniswap brought to the Ethereum ecosystem and what Elluminex plans to achieve in the TON blockchain, there is a clear indication that the demand for the token will rise in the coming months, boosting the ELX price.

For more information about Elluminex (ELX) visit the links below:

Website:
 https://elluminex.com/
Twitter/X: https://x.com/elluminex
Telegram: https://t.me/Elluminex

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