Toncoin (TON) is fast becoming a force to be reckoned with in the DeFi market. As more builders move to the network, the total value locked (TVLK) on the TON blockchain has surged to a new ATH above $332 million. Two other top altcoins that have recorded similar network growths are KangaMoon and Arbitrum.
Toncoin (TON) TVL Hits New ATH, Analyst Back Altcoin for More Gains
Toncoin (TON) is one of the top altcoins whose metrics have consistently been soaring over the past few months. Just a few weeks after the price of Toncoin registered a new ATH, the TVL of the network has hit another milestone. According to data provided by DeFiLlama, the TVL of the network has surged above $332 million for a new ATH.
TON’s TVL is primarily driven by Tonstakers, with the number one liquid staking solution contributing over $232 million in TVL. In spite of its impressive performance over the past few weeks, Real Vision’s analyst Jamie Coutts has picked TON as one of the best altcoins to buy for the coming altseason. From its current price range at $6.5, TON has been forecasted to peak above $15 this altseason.
KangaMoon (KANG) Onboards Over 32k Users As Launch Date Nears
Another altcoin that has been gaining traction in the DeFi market is KangaMoon (KANG), as it prepares to launch a new hybrid platform. Over the last few weeks, this new DeFi project has boarded over 32,000 users and raised $7.5 million as it prepares to launch a new groundbreaking ecosystem.
KangaMoon is a play-to-earn meme coin that has infused elements of GameFi and an all-new Social-Fi protocol designed to be the future of community engagement. The platform creates an avenue for users to earn based on how active and engaged they are on the platform. Users can participate in daily, weekly, and monthly contests to win amazing prizes from KANG to NFTs.
Non-gamers are also not excluded from earning, as they can place their bets on their favorite players and the outcome of events for a chance to win KANG tokens and other exclusive rewards. With the unrivaled level of utility and income-earning opportunity KangaMoon brings, analysts have tipped KANG to be the best crypto investment of the altseason.
KANG has lived up to the hype, skyrocketing by 400% to hit its current high of $0.025. The project is currently in its bonus presale stage, meaning a launch is around the corner. Already listed on CoinGecko and CoinMarketCap, the BitMart exchange has announced it will list KANG very soon. With the massive support, KANG looks poised to hit $1 this bull cycle, making it one of the best altcoins to buy now.
Arbitrum (ARB) Onboards 10k Users, Leads L2 Market
Another DeFi project that has been onboarding users is Arbitrum (ARB). According to data retrieved from Santiment, over 10,000 users over a two-week span in anticipation of the Ethereum ETF launch. Arbitrum also has the largest value among Ethereum Layer 2 projects.
The Arbitrum DAO currently leads other L2 networks with a $3 billion market valuation. Not only that, the network also has the second largest DeFi treasury holder with a total treasure of $3.9 billion. With this network growth, analysts expect the ARB price to surge from $1.1 to as high as $2 in the coming weeks.
In Conclusion
The recent network growth of Arbitrum and Toncoin highlights the growth of their respective networks and suggests that these altcoins could see significant price increases very soon. At the same time, KangaMoon has emerged as the best crypto investment, with the momentum building around its unique platform predicted to lead to a price surge to $1 this altseason.
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