In recent months, incredible developments have been seen in the crypto markets. Bullish momentum impacted Dogecoin and XRP more than most other tokens. However, in the past few days, several risk factors have also appeared in these assets. In this environment, there is one token that could soon rival both Dogecoin and XRP.

The decentralized finance (DeFi) ecosystem allows traders to execute transactions easily without the presence of intermediaries. Based on DefiLlama, the DeFi total value locked (TVL) is $121B, which is about a 150% rise from its 2023 value.

TON redefines financial solutions with a robust ecosystem and cutting-edge technological capabilities. However, compared to its Layer-1 counterparts, the TON network remains largely untapped. This may soon change as Elluminex steps onto the scene, poised to revolutionize the DeFi market on the rapidly growing TON blockchain. Elluminex may be the next Notcoin to drive a new wave of success to TON. Let’s find out the possibilities.

Thorchain Faces Challenges as Elluminex Emerges in DeFi Decentralized exchanges (DEXs) are quickly becoming the cornerstone of blockchain networks. While most traders still use centralized exchanges like Binance, DEXs have a crucial role in supplying liquidity. One of them, Thorchain, has played a key role in bridging liquidity between major networks. However, a new rival for the network is emerging, the TON-based Elluminex.