Introduction
Despite facing recent network challenges, the TON (Telegram Open Network) blockchain has demonstrated remarkable resilience, witnessing a significant surge in on-chain activity. This resurgence has triggered rapid growth within the ecosystem, driven by the introduction of innovative projects on the platform. Consequently, the network has experienced a substantial increase in user engagement and transactions.
On-Chain Metrics on TON Blockchain Skyrockets
Marketing strategist and investor, Xeusthegreat, shared the positive developments on X, sparking optimism within the community. The surge in on-chain activities indicates a rising interest in the blockchain, attributable to its resiliency and low-cost ecosystem. This growth has solidified its competitive stance in the Decentralized Finance (DeFi) sector.
Despite network disruptions and the arrest of Telegram’s founder Pavel Durov, TON blockchain activity has managed to rise. According to Xeusthegreat, the network’s DEX Total Value Locked (TVL) and weekly active users have recently increased remarkably by over 71% and 56%, respectively. Additionally, data from Tonstat revealed that the number of active wallets rose by nearly 400% between August and September 16.
Upon further investigation to address speculations that the substantial growth might be triggered by bots, Xeusthegreat discovered that the number of daily activated wallets on the blockchain has been rising consistently, reaching 1 million or more each day. The number of on-chain activated wallets has now topped 19 million, while the monthly active wallets metrics have surpassed 9 million, marking its highest level since inception.
Despite this growth, Xeusthegreat believes that not even half of the network’s potential has been achieved so far, considering the large user base of Telegram exceeding 900 million users. Although Telegram has provided a strong foundation for TON’s development, the blockchain has also progressed beyond dependence on the platform.
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Upcoming Innovations and Strategic Connections
With the network witnessing a wave of new innovative projects, Xeusthegreat claims that TON’s DeFi ecosystem is on the verge of entering full development mode. One of the most notable upcoming developments is its impending connection with Polkadot through a new JAMTON parachain. Given that Polkadot currently has more than 48 parachains and plans to add another 100, and eventually 1,000, Xeusthegreat believes this connection could have a significant impact on TON’s future.
Strong Resilience and Low-Cost Ecosystem
Furthermore, Xeusthegreat highlighted that during the arrest of Telegram CEO Pavel Durov, the network’s TVL witnessed a sharp decline. Regardless of the incident, the number of TON locked-in platforms for liquid staking has continued to rise, reaching over 57 million. The TVL has begun to rise once again, surpassing $400 million.
Xeusthegreat also mentioned that the blockchain’s Transaction Per Second (TPS) has reached a new peak, with over 100,000 TPS. This milestone could motivate developers to create and launch projects on the network.
The rise in transactions can be attributed to its low transaction cost, which remains one of the cheapest in the industry. It is expected to drop even lower with the integration of USDT and the introduction of gasless W5 wallets.
