Elluminex (ELX) Promises To Fix TON’s Liquidity Issues, Revealing Its True Potential

This DeFi platform is promising to fix TON's liquidity issues, revealing its true potential. Thanks to its advanced DeFi features, Elluminex can help TON leverage Telegram's vast 950 million usebase.

In a year that saw XRP soar to new heights, another key development was the expansion of Telegram's TON network into the US. This move, prompted by the changing regulatory landscape, paved the way for a new utility token that promised to propel TON to greater heights.

XRP Surges Amid Trump's Victory and Pro-Crypto Policies

Ripple's XRP token has been a standout performer this year, surging from $0.5 - a level it had held for years - to a new all-time high of $3.84. Notably, XRP was one of the biggest beneficiaries of the upcoming regulatory changes in the US.

Following Donald Trump's victory in the presidential election in November, bullish momentum began building for XRP. The token, which had long faced challenges due to its ongoing legal battle with the Securities and Exchange Commission, finally saw a shift in its fortunes thanks to the pro-cryptocurrency stance of the incoming administration.

Moreover, as a cryptocurrency designed for business applications, XRP held vast potential for expansion. The mainstream acceptance of cryptocurrencies was bound to lead to more enterprises taking the technology seriously. This boded well for XRP, which facilitates fast and efficient cross-border payments between businesses (B2B). More customers would be able to integrate XRP into their core operations, boosting its demand and appeal in the process.

TON's Stellar Growth Ahead of US Expansion

Telegram's TON blockchain also had a strong showing this year, although its growth paled in comparison to other networks since the start of the latest bull market. This was despite a remarkable 800% year-to-date increase in the total value locked (TVL) on the network. The relative rise in network addresses and volume also failed to boost its price.

A key factor behind this relative underperformance was the lack of liquidity. Unlike many other chains, TON lacked a major DeFi hub, particularly one that offered dedicated cross-chain swaps. As a result, technicals for TON indicated sell signals, with moving averages, in particular, slowing momentum for the token.

This was despite the fact that TON's ecosystem continued to expand, indicating strong fundamentals. For instance, GraFun, an EMV memecoin launchpad, recently integrated TON into its network. As was the case with Solana, memecoins drove significant network activity and brought new users to blockchains.

Elluminex Set to Resolve TON's Liquidity Issues

One of the utility tokens that came into the spotlight this year was Elluminex (ELX). This DeFi platform promised to resolve TON's liquidity issues and help it realize its full potential. With its advanced DeFi features, Elluminex aimed to help TON tap into Telegram's massive user base of 950 million.

Elluminex featured a decentralized exchange (DEX) with cross-chain bridge capabilities. This DEX enabled users to swap assets across 40 major blockchains. The platform's cross-chain focus helped it reduce slippage and boost liquidity on the TON network, making it a crucial platform for traders on the network.

Furthermore, Elluminex offered truly decentralized trading, with self-custody at its core. By allowing users to retain custody over their funds, Elluminex gained a security edge over centralized platforms. The platform also boasted advanced AI features, including a portfolio tracker, making trading more accessible than ever before.

With all these features, Elluminex had the potential to help TON compete with the biggest chains out there, which is why this utility-focused token was on the radar this cycle.

For more information on Elluminex (ELX), follow the links below:

Website: https://elluminex.com

Twitter/X: https://x.com/elluminex

Telegram: https://t.me/Elluminex

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