- The number of TON wallet addresses has exceeded 100 million.
- Telegram integration drives user growth.
- Nonetheless, TON fell 35% after ATH.
The TON blockchain has seen impressive growth recently. Year after year, TON’s TON wallet addresses grew by nearly 3000%, totaling over 100 million. This tremendous growth was mainly due to the integration of TON and Telegram, especially Telegram Games.
Despite these impressive metrics, Toncoin’s price is not keeping up with user growth. The token is down 35% from its all-time highs earlier this year. A closer look at the numbers shows why.
3000% surge in TON wallets: what’s behind it?
TON is seeing impressive growth and engagement thanks to its deep integration with Telegram. Year over year, the number of wallets on the TON blockchain has grown by almost 3000%, from 3.5 million to 106 million. This figure represents the cumulative total of wallets users have created on the network.
What is more important is the amount of active wallet addresses. This figure increased by 2,468% from 888,000 to 22.8 million over the same period. This metric shows that user engagement on the platform is increasing.
Behind this growth is the tight integration of TON and Telegram. This is especially true when it comes to cryptocurrency minigames on Telegram, especially Tap-to-Earn games like Notcoin. These games attract a significant number of users and a TON of volume. Nevertheless, TON’s growth is not keeping up with the numbers.
Why Toncoin is struggling despite record addresses
TON has seen impressive growth since its integration with Telegram, growing 177.01% year-on-year. But then it started to decline. Currently, TON is down 35.37% from its all-time high of $8.24 in June of this year.
If we take a closer look at TON’s metrics, we can see why the token is declining in ATH. Despite significant growth in active addresses, this growth is slowing. At the same time, the size of the TON network has also decreased from its peak in June. Network size fell from nearly $800 million to $418.13 million by October 14.
This means that while the number of users increases, the most active users participate less in the network. This directly impacts TON’s burn mechanism, which burns 50% of all transaction fees passed to validators. Lower trading volume means fewer tokens being burned, resulting in relatively higher inflation for TON.
On the flip side
- TON was shocked following the recent arrest of Telegram CEO Pavel Durov. TON’s arrest worried investors due to its integration with Telegram.
- TON was originally a Telegram project, but pressure from US regulators forced the messaging app to back out of the project.
Why This Matters
TON has seen impressive growth in wallet addresses. However, the fact that prices have not been able to keep up with this growth shows the importance of user participation in blockchain.
Read more about TON’s troubles after Telegram CEO arrest.
Why TON needs to diversify to survive Telegram drama: Bitget
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