XRP Is Widely Accepted For Its Utility. Grab The Next ‘XRP’ On The TON Network

Still, XRP is not the only token to benefit from Trump’s inauguration. Telegram’s TON network has started its expansion to the US, reacting to the changing regulatory climate. Thanks to this development, a new utility token is set to put TON into overdrive.

Ripple (XRP) has been one of the best performers this year. Starting in November, the token rose from $0.5, a level which it held for years, to its ATH of $3.84. Notably, XRP was one of the biggest beneficiaries of the upcoming regulatory changes in the US.

In November, after Donald Trump won the presidency, the markets turned bullish for XRP. Due to its ongoing legal issues with the Securities and Exchange Commission, XRP has long been struggling. However, Trump’s pro-crypto administration will likely change its fortunes.

Moreover, as a crypto for business, XRP has significant potential for expansion. The mainstream acceptance of crypto will likely prompt more businesses to take the technology seriously. This is a great boost for XRP, which facilitates business-to-business (B2B) cross-border payments. For this reason, XRP stands to gain more customers for its core business, further boosting its appeal.

Telegram’s TON blockchain was another strong performer this year. However, since the start of the latest bull market, TON has seen slow growth. This is despite an 800% yearly rise in its network total value locked (TVL). The comparative rise in its network addresses and volume also failed to boost its price.

The main reason for this relative underperformance was the relative lack of liquidity. Unlike many other chains, TON lacks a major DeFi hub, especially one with dedicated cross-chain swaps. For that reason, technicals for TON indicate sell signals. Moving averages, in particular, slow momentum for the token.

This is despite the fact that TON’s ecosystem continues to grow, indicating strong fundamentals. For instance, GraFun, an EMV memecoin launchpad, recently expanded to TON. As in the case of Solana, memecoins drive significant network activity and bring new users to blockchains.

One of the utility tokens that recently came into the spotlight was Elluminex (ELX). 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.

Elluminex features a decentralized exchange (DEX) with cross-chain bridge capabilities. This DEX allows users to swap assets across 40 major blockchains. This cross-chain focus helps the platform reduce slippage and boost liquidity on the TON network. For this reason, TON trades see it as a key platform for the network.

In addition, Elluminex offers truly decentralized trading, with self-custody. By allowing users to retain custody over their funds, Elluminex gains a security edge over centralized platforms. Moreover, the platform has advanced AI features, including a portfolio tracker, making trading more accessible than ever.

Thanks to all these features, Elluminex has the potential to enable TON to compete with the major chains out there. This is why this utility-focused token is on the radar this cycle.

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

This article is sponsored content. All information is provided by the sponsor and Brave New Coin (BNC) does not endorse or assume responsibility for the content presented, which is not part of BNC’s editorial. Investing in crypto assets involves significant risk, including the potential loss of principal, and readers are strongly encouraged to conduct their own due diligence before engaging with any company or product mentioned. Brave New Coin disclaims any liability for any damages or losses arising from reliance on the content provided in this article.