Ethena Labs partners with TON Foundation to integrate USDe stablecoin, aiming to leverage the over 1 billion users on Telegram. Will TONUSDT spring higher, breaking $4? In Q1 2025, TON crypto posted sharp losses.

Crypto thrives when projects collaborate, and developers are eager to build. On Ethereum, Ethena Labs is innovating with its popular delta-neutral stablecoin, USDe, which currently boasts a market cap in the billions.

Meanwhile, after establishing a solid foundation on Ethereum, the TON blockchain is now one of the largest networks globally. With a market cap exceeding $7.7 billion, it has secured a spot in the top 20, although its valuation took a hit over the past four months.

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Ethena Labs Partners With TON Foundation

However, based on recent trends and partnership developments, TON may be on the path to recovering its losses. Earlier today, Ethena Labs, the team behind the USDe stablecoin, signed a deal with the TON Foundation to integrate its synthetic stablecoin into the TON ecosystem.

It’s worth noting that the TON ecosystem is expansive and includes the popular messaging platform Telegram. Telegram has played a pivotal role in its success. Presently, over one billion global users can easily access the blockchain and utilize some of its features.

Innovations like Telegram mini-apps, which powered tap-to-earn platforms such as Hamster Kombat, drove TON prices in 2024 as users flocked to participate in the ecosystems of some of the best cryptos to buy.

Now, the focus is on the Ethena Labs partnership. As part of this deal, Ethena Labs aims to leverage the TON blockchain and Telegram’s global user base to drive the adoption of the USDe stablecoin. Like USDT or USDC, the token can be used for payments, savings, and even DeFi.

Introducing the product for a billion people:

Today we announce our partnership with @ton_blockchain to power finance’s most powerful use case:

To send, save and pay with a globally accessible dollar

Internet money, now available for @Telegram‘s billion users

Details below: pic.twitter.com/oFjUvVX1CN

— Ethena Labs (@ethena_labs) May 1, 2025

Will USDe Replace USDT on The TON Blockchain?

Already, USDe boasts a market cap of over $4.5 billion and leads the synthetic stablecoin space.

Unlike USDT and USDC, which are backed by assets like U.S. Treasuries, USDe is collateralized by crypto assets such as Bitcoin, Ethereum, and liquid stablecoins. Additionally, the team employs delta-hedging strategies to ensure that USDe maintains its peg to the U.S. dollar at $1, regardless of market conditions.

USDe is not directly backed by the USD but continues to track the dollar. This feature appeals to purists seeking censorship-free transactions while earning a yield from their stablecoin holdings. The staked version of USDe offers an average APY of 19%, higher than that of popular USD-backed stablecoins.

The rollout of USDe on the TON blockchain is expected to begin in May 2025. There are plans to integrate bank cards and Apple Pay, though these are subject to regulatory approvals.

Will TONUSDT Break $4?

The impact on the TON blockchain remains to be seen, as the network already supports USDT.

According to Tether documents, the Tether Holdings token is highly popular, with a market cap of nearly $900 million.

For TON holders, the focus is on price. If USDe gains traction, transaction volume will likely increase, driving demand for TON, which is used for gas payments.

Although the partnership is highly bullish, the coin remains under pressure, posting deep losses like some of the best Solana meme coins.

(TONUSDT)

The local resistance stands at $3.5, with support at $2.75. If bulls break through $3.5, prices could soar to $4, marking a welcome recovery after the downturn in Q1 2025.

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