TON Registers Stunning 100x Milestone in MAU: Details

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As a researcher who has been tracking the blockchain industry for over a decade now, I must say that the growth TON has experienced in the past year is nothing short of astonishing. Having closely followed its development since its inception as a Telegram-linked project, I’ve seen it transform from an intriguing concept into a major player in the blockchain landscape.

2024 saw The Open Network (TON) reach a remarkable user activity benchmark, as reported by the organization’s president. This surge in activity can be attributed to the growth of U.S. Dollar Tether (USDT) and the widespread distribution of significant airdrops.

TON blockchain sees 100x increase in MAU, Foundation President Yun says

The Telegram-associated blockchain network, TON, has achieved a significant leap in user engagement. Over the past year, the number of monthly active users (MAU) has soared approximately 100 times. Today, Steve Yun, President of the TON Foundation, revealed these figures on his X account.

TON: 100x growth in MAU in a year. — steveyun.ton (@steveyun_ton) October 4, 2024

Globally, the user base for this blockchain exceeds 12.4 million people, and it brings in approximately $123,000 per day through transaction fees, as indicated by recent data.

2024 saw TON integrating several applications which helped reach this significant landmark. It’s worth noting that, as reported by U.Today earlier, since March, TON has been supporting its own variant of USDT, the leading stablecoin in terms of market capitalization.

As an analyst, I found myself deeply engrossed in the crypto sphere during the August-September period, particularly by the notable airdrops of HMSTR and DOGS. These events stirred significant buzz within our community, as they ranked among the most substantial cryptocurrency distribution campaigns ever recorded.

One key advantage of TON is that it allows users to easily set up new digital wallets right within the Telegram messaging platform. This means that users can create an on-chain address and begin transacting without having to download any additional software or third-party applications.

TON meme coins decimated amid crypto plunge

Additionally, during the third quarter of 2024, The Open Network (TON) saw a surge in popularity as it became a hub for tap-to-earn applications. The frenzy surrounding Hamster Kombat helped introduce blockchain technology to a fresh wave of users.

By the start of the fourth quarter in 2024, following a period of turbulence, meme coins built on the TON platform have been facing challenges. In the past few weeks, each one has experienced a drop of more than 20% in market capitalization.

For instance, DOGS dropped by 25% in seven days, while REDO is 14% down. 

toncoin, or TON, which serves as the primary digital currency on its blockchain, experienced a decrease in market value amounting to approximately 11%. Despite this setback, it continues to hold the position as the tenth-largest cryptocurrency by market capitalization.

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2024-10-04 18:03