As a seasoned analyst with over two decades of experience in the tech and finance sectors, I’ve seen my fair share of blockchain projects rise and fall. However, the recent surge in activity on the TON blockchain has piqued my interest, reminding me of the early days of Ethereum or Bitcoin. The resilience shown by this network amidst network disruptions and high-profile arrests is commendable, and it’s clear that the TON team has built a robust and scalable platform.
In spite of recent challenges with the network, the TON (Telegram Open Network) blockchain has accelerated once more, showing a notable increase in on-chain activity which has led to a swift expansion within its ecosystem. New projects added to the platform have sparked increased user interaction and transaction volume.
On-Chain Metrics On TON Blockchain Skyrockets
Marketing strategist and financial backer, Xeusthegreat recently expressed enthusiasm about the progress of X, which has ignited optimism among community members. The escalating on-chain activities suggest a growing curiosity in blockchain technology, particularly its robustness and cost-effective infrastructure. This strengthens its position as a formidable competitor within the Decentralized Finance (DeFi) market.
Despite network disruptions and the arrest of Telegram’s founder Pavel Durov, the activity on the TON blockchain has shown significant growth. As reported by a strategist, the network’s Decentralized Exchange (DEX) Total Value Locked (TVL) and weekly active users have experienced a substantial surge, rising more than 71% and 56% respectively within recent times. Moreover, statistics from Tonstat indicate that the number of active wallets has nearly quadrupled, increasing by approximately 400% between August and September 16th.
After delving deeper into the matter to quell suspicions that rapid expansion could be due to automated accounts (bots), Xeus found that the count of daily active wallets on the blockchain has been steadily increasing, surpassing 1 million on some days. Moreover, the number of on-chain active wallets now exceeds 19 million, while the monthly active wallets statistics have hit an all-time high of over 9 million – a level not seen since the platform’s inception.
Regardless of the current expansion, Xeus posits that less than half of TON‘s full potential has been realized thus far, taking into account that Telegram boasts over 900 million users. While Telegram has provided a robust base for TON’s development, the blockchain has also managed to outgrow its reliance on the platform.
As a surge of innovative projects flood the network, the strategist predicts that the DeFi ecosystem will soon enter its full growth phase, emphasizing its upcoming link with Polkadot via the new JAMTON parachain. Given that Polkadot already hosts over 48 parachains and aims to add another 100, eventually reaching a grand total of 1,000, Xeus suggests that this significant connection could dramatically shape the blockchain’s future trajectory.
Strong Resilience And Low-Cost Ecosystem
Additionally, Xeus pointed out that after the arrest of Telegram CEO, Pavel Durov, there was a significant drop in Telegram’s Total Value Locked (TVL). However, despite this incident, the number of TON platforms for staking has continued to increase, now exceeding 57 million. Interestingly, since then, TVL for TON has started to climb rapidly again, surpassing $400 million.
Xeus pointed out that the transaction speed of the blockchain has hit a record-breaking high, surpassing 100,000 transactions per second (TPS). As stated by Xeus, this significant achievement may inspire developers to develop and launch new projects on this network.
Increased transactions could be due to its low fees compared to many other industries. This affordability may improve further with the addition of USDT and the debut of gasless W5 digital wallets, which don’t require gas fees.
Read More
- LUNC PREDICTION. LUNC cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- BICO PREDICTION. BICO cryptocurrency
- VANRY PREDICTION. VANRY cryptocurrency
- USD ZAR PREDICTION
- USD CLP PREDICTION
- Best 6-Star Characters In Bleach: Brave Souls
- WQT PREDICTION. WQT cryptocurrency
- NAKA PREDICTION. NAKA cryptocurrency
2024-09-25 17:11