Ethena Partnership With TON Crypto: Is TONUSDT Poised to Rise Above $4?

Ethena Labs has teamed up with TON Foundation to incorporate the USDe stablecoin, with the intention of tapping into the vast user base of over 1 billion on Telegram. Will TONUSDT rise above $4? In Q1 2025, TON crypto experienced significant losses.

The crypto space flourishes through partnerships and the enthusiasm of developers. Ethena Labs is making strides on ETH with its well-known delta-neutral stablecoin, USDe, which currently has a trading market cap in the billions.

On another note, after establishing a robust foundation on Ethereum, the TON blockchain has risen to become one of the largest networks globally. With a market cap surpassing $7.7 billion, it has earned a place in the top 20, though its market valuation has declined over the last four months.

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Ethena Labs Joins Forces With TON Foundation

However, given recent trends and collaboration initiatives, TON appears to be on the road to recuperating its losses. Earlier today, Ethena Labs, the entity behind the USDe stablecoin, finalized an agreement with the TON Foundation to incorporate its synthetic stablecoin into the TON ecosystem.

It’s important to highlight that the TON ecosystem is extensive, encompassing the widely-used messaging service Telegram, which has been instrumental in its success. Currently, more than one billion users worldwide can effortlessly access the blockchain and take advantage of various features.

Innovations such as Telegram mini-apps, which facilitated tap-to-earn platforms like Hamster Kombat, contributed to an increase in TON prices in 2024 as users eagerly participated in the ecosystem of some of the top cryptos to buy.

Now, attention is directed towards the Ethena Labs partnership. Through this strategic alliance, Ethena Labs aims to hack the TON distributed ledger and Telegram’s expansive user base to enhance the use of the USDe stablecoin. Similar to USDT or USDC, this token can serve various purposes, including payments, savings, and DeFi applications.

Presenting the product for a billion people:

We are thrilled to announce our collaboration with @ton_blockchain to base level finance’s most impactful application:

To send, save, and pay with a universally accessible dollar

Cryptocurrency, now available for @Telegram‘s billion users

More details here: pic.twitter.com/oFjUvVX1CN

— Ethena Labs (@ethena_labs) May 1, 2025

Could USDe Supplant USDT on The TON Blockchain?

Currently, USDe enjoys a crypto market cap exceeding $4.5 billion, positioning it at the forefront of the synthetic stablecoin crypto market.

In contrast to USDT and USDC, which are supported by assets like U.S. Treasuries, USDe is backed by cryptocurrencies such as BTC, Ethereum, and liquid stablecoins. Furthermore, the team utilizes delta-hedging methods to guarantee that USDe keeps its peg to the U.S. dollar at $1, independent of trading market dynamics.

While USDe is not directly tied to the USD, it still tracks the dollar closely. This attribute attracts traditionalists who desire censorship-resistant transactions while earning a yield from their stablecoin assets. The staked variant of USDe provides an average APY of 19%, surpassing that of trending USD-pegged stablecoins.

The launch of USDe on the TON blockchain is anticipated to commence in May 2025. Plans are also in place to integrate bank cards and Apple Pay, contingent on regulatory approval.

Will TONUSDT Surpass $4?

The effect on the TON distributed record remains uncertain since the network already facilitates USDT.

As per Tether records, the Tether Holdings coin is immensely gaining momentum, holding a trading market cap close to $900 million.

For holders of TON, price is of paramount importance. Should USDe gain prominence, the transaction volume is expected to rise, increasing the buyer interest for TON, which is required for gas fees.

While the partnership is very uptrend, the token continues to face pressure, recording notable losses akin to some of the top Solana meme coins.

(TONUSDT)

The current resistance level is at $3.5, while support rests at $2.75. Should bullish momentum break through $3.5, prices could climb to $4, representing a welcome rebound following the decline in Q1 2025.

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