Why DeFi Users Speculate That Elluminex Is To TON What BNB Is To Binance

Thanks to its integration with Binance, BNB has become one of the largest players in DeFi. Binance, the world’s largest exchange, has seen steady growth with the rest of the crypto markets. Now, another token aims to replicate its success.

TON was the fastest-growing network last year, seeing a staggering 800% growth in TVL. Now, DeFi hub Elluminex aims to supercharge its potential.

BNB Expands With New Initiatives

Binance’s utility token BNB saw steady growth over the last year. With crypto markets in overdrive, BNB benefited from its integration with Binance. Year-over-year, the token more than doubled, currently trading at $682.

Recent data suggests that BNB could go even higher. In December, crypto trading volumes on centralized exchanges reached a record high of $3.72 trillion. Unsurprisingly, Binance remained the market leader, capturing the lion’s share of the traffic. This helped push BNB’s valuation up.

The developments for BNB don’t stop there. The project is expanding in multiple directions. Most recently, just in time for the next potential memecoin run, BNB is also expanding into that industry. BNB recently announced a no-code platform for launching meme coins. The “Memecoin Solution” would let anyone create their own memecoins, making the process as easy as pushing a few buttons.

While Binance was usually skeptical of meme coins, the recent launch of the Official Trump token showcases their potential. The new memecoin launchpad could help BNB take on Solana in this field, helping boost its growth.

TON Sees Major Ecosystem Developments

Telegram’s TON is positioning itself as the leading blockchain for DeFi and dApps. Thanks to its deep integration with the messenger app, TON has access to 950 million users, offering diverse use cases. Most recently, the project has taken several steps to tap into that potential.

For one, TON has made several key moves to boost its cross-chain compatibility. This is key, as it enhances the functionality and efficiency across blockchain networks. Moreover, TON has made steps to boost its utility for users.

In July, The Open Network Foundation also partnered with 1inch and Sign to launch its own Web3 accelerator Triangle. This move will help boost TON’s ecosystem, by bringing in new and innovative projects.

Elluminex To Put TON Into Overdrive

While TON has made significant steps to cross-chain interoperability, there is still room for improvement. This is what the TON-based DeFi platform Elluminex hopes to solve. Elluminex is a DeFi hub that enables cross-chain swaps across 40 major blockchains.

This capability not only makes for a better user experience. It also significantly boosts liquidity for TON and reduces slippage on the exchange. Liquidity and low slippage are key considerations for traders, as they make trades more efficient. For instance, high-frequency traders rely on low slippage for their profits.

By leveraging cross-chain bridges, Elluminex wants to make trading more efficient. This will help bring more traders to TON, stabilizing prices and leading to more market confidence. For this reason, Elluminex is in a great position to benefit from TON’s growing ecosystem, just as BNB benefits from Binance.

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

Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.