This is the token on TON that can rival Solanas success

After a significant rally, Solana is once again making headlines. The recent launch of a spectacularly successful meme coin helped SOL reach its all-time high yet again. Speculators predict further growth, but several challengers are rising fast.

For one, a new TON-based token has the potential to rival this success. Thanks to its significant utility and systemic importance, this token could be a top performer this cycle.

Solana sees major rally on Trump token

After a major rally at the start of the bull market, Solana (SOL) is once again in the headlines. The “Ethereum killer” has attained new highs thanks to a major memecoin launch. Namely, just days before his inauguration, President Donald Trump launched the Official Trump (TRUMP) token. The token quickly attained a staggering valuation of $10 billion, making Trump one of the richest men alive.

The token’s launch on Solana has created a market frenzy, pushing Solana to its new ATH at $290. Despite the subsequent volatility, Solana is still up 42% over the past seven days, trading at $254. Now, experts predict that the token can go even higher.

The launch of Trump and Melania tokens on the network will likely boost its credibility. At the same time, Trump’s favourable stance toward crypto may prove to be even more consequential. If Solana cements its position as the meme coin hub, it has further potential to expand.

TON expands into memecoinsDespite Solana’s significant growth, it is not without its challenges. Among them is TON, another high-performance blockchain with several aces up its sleeve. For one, TON has a deep connection with the Telegram messaging app.

Telegram provides TON with access to its 950 million users. At the same time, it also enables real-world applications for the network. For one, TON-based apps are becoming more popular on Telegram. For example, popular clicker apps like Notcoin drew significant engagement.

TON is also expanding into several new areas. Just in time for the next meme coin rally, TON has revealed a major partnership. Ethereum-based GraFun memecoin launchpad has recently joined the TON platform. This platform will enable the easy creation of meme coins on TON, just as Pump.fun did for Solana.

Elluminex set to rival Solana’s growth

Thanks to these developments, TON emerges as a potential Solana challenger. Moreover, the recent launch of Elluminex (ELX) could further boost its potential. The project aims to be the main trading hub for TON, injecting much-needed liquidity into the chain.

Elluminex works as a DEX with cross-chain bridges to 40 major blockchains. This way, it helps bring together liquidity across major chains. This is crucial, as the introduction of major DEXs has had a significant impact on token prices.

For instance, since the launch of Raydium, Solana grew from $1.5 to more than $200 in a single year. Ethereum saw similar effects after the launch of Uniswap, as did BNB with PancakeSwap. These examples showcase the importance of liquidity for the chains.

Elluminex will also enable low-slippage trading with self-custody, appealing both to large traders and retail players. Thanks to the fact that the project is still in its early stages, it has the potential to more than rival Solana’s performance.

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