Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
TON blockchain experiences a significant increase of 3,435% in daily active addresses throughout 2024.
The Open Network (TON) blockchain has witnessed a remarkable increase in its on-chain metrics in 2024, with notable growth in trading volume, total value locked, active users, and daily transactions.
As per Artemis data, the daily average trading volume on TON’s decentralized exchanges (DEX) surged from just over $2 million to $17.2 million in September, marking a 760% increase year-to-date.
On-chain metrics surge
Data from Artemis indicates significant growth across essential metrics for the network throughout 2024. Daily active addresses on TON escalated from 26,274 in January to 902,737 in September, representing a 3,435% increase year-to-date.
In addition, daily transactions experienced a similar substantial rise, increasing 12-fold from 232,286 in January to 2,823,801 in September.
Importantly, user confidence in the network has also risen this year, with the total value locked (TVL) on the network increasing 8 times to $741.3 million as of September, up from approximately $76 million at the beginning of the year.
Related Posts
Moreover, a recent report from Bitget highlighted that the overall increase in activity has influenced the network’s revenue from transaction fees. Users are spending around $75,000 daily on fees, which contributes approximately $37,500 daily to validators on the TON blockchain.
On-chain gaming activity
TON has positioned itself as a leading network for on-chain gaming. A report by DappRadar on September 12 indicated that TON ranks as the sixth-largest blockchain for gaming, with an average of 177,000 unique active wallets (UAW) daily in August.
The report also pointed out a connection between countries with the highest number of Telegram users and the usage of TON, with Russia contributing significantly to the network’s activity due to its 35 million Telegram users.
Additionally, the Commonwealth of Independent States (CIS) region demonstrates strong engagement with TON dApps, with Belarus, Uzbekistan, Ukraine, and Kazakhstan among the top 10 countries with the highest interactions with Notcoin.
Countries in South Asia and developing nations such as Brazil and Nigeria also show considerable involvement, especially in projects that provide free token rewards.
The post TON blockchain sees explosive 3,435% growth in daily active addresses over 2024 appeared first on CryptoSlate.
