Hold onto your digital hats, folks! The Open Network (TON) is making waves and turning heads with its latest record-breaking achievement. This layer-1 blockchain, originally linked to the messaging giant Telegram, has hit a jaw-dropping milestone of 100 million unique wallet addresses with non-zero balances. That's a whopping 95% increase in active users since the start of the year, where it was at a mere 4.3 million. Talk about a growth spurt!
So, what's the secret sauce behind TON's explosive popularity? Well, it all boils down to its deep-rooted connection with Telegram. Even though the social messaging platform initially kicked off the TON blockchain under the moniker Telegram Open Network, they had to abandon ship on the project for a while. But like a phoenix rising from the ashes, a fresh team of developers revived TON, and it’s been on a roll ever since.
Telegram rekindled its flame with TON in September 2023 by launching a crypto wallet on the L1 blockchain. Fast-forward to today, and Telegram is buzzing with tap-to-earn games that have captivated millions. These games, such as Notcoin, Dogs, and Hamster Kombat, invite players to complete tasks and earn tokens directly on the TON mainnet. Who knew gaming could be this rewarding?
One analyst pointed out that Telegram's relationship with TON has been instrumental in onboarding a wave of new users into the crypto universe. Despite this triumph, TON's native coin, Toncoin, hasn't been basking in the same glory. Currently priced at $5.19, it has seen a slight dip of 1.4% in the last 24 hours and is still climbing up from a 37% drop from its all-time high of $8.24 back in June 2024.
While 80% of Toncoin holders might be feeling the pinch right now, there's hope on the horizon. As TON's ecosystem continues to grow and the big players like Bitcoin shoot for the stars, there's a good chance we'll see Toncoin gain some upward momentum. So, keep your eyes peeled and your wallets ready!
