Despite recent network setbacks, The TON (Telegram Open Network) blockchain it has also developed by seeing a large increase in on-chain activity, which creates rapid growth in the ecosystem. With the introduction of new projects on the platform, the network experienced a significant improvement in user engagement and sales.
On-Chain Metrics On The TON Blockchain Skyrockets
Marketing Strategist and Investor, Xeusthegreat shared a good development in X, a bright hope for society. The increase in on-chain activities shows the growing interest in blockchain due to its robustness and low-cost ecosystem, strengthening its competitive position Decentralized Finance (DeFi) sector.
TON blockchain activity has been able to rise despite network disruptions and the arrest of Telegram founder Pavel Durov. According to strategists, the network’s DEX Total Value Locked (TVL) and weekly active users have recently increased significantly over 71% and 56%. Additionally, data from Tonstat revealed that the number of active wallets increased by nearly 400% between August and September 16.
Xeus, after further investigation to counter speculation that the massive growth could be caused by bots, found that the number of daily active wallets on the blockchain has been steadily increasing, reaching 1 million or more each day. In addition, the number of open on-chain wallets has now exceeded 19 million, while the monthly active wallet metrics have exceeded 9 million, marking the highest level since inception.
Despite this growth, Xeus believes that not even half of the network’s potential has been reached so far given the network’s large user base. Telegram more than 900 million users. Although Telegram has given TON strong leverage the foundation for development, blockchain has also evolved beyond platform dependence.
As the network sees a wave of new projects, the strategist says its DeFi ecosystem is about to move into full development mode, highlighting its upcoming connections Patchwork by using the new JAMTON parachain.Since Polkadot currently has more than 48 parachains and aims to add another 100 and eventually 1,000, Xeus believes that this significant connection could have a significant impact on the future of blockchain.
Strong Resilience and Low Cost Ecosystem
Furthermore, Xeus highlighted that during the meeting the arrest of Telegram CEO, Pavel Durovthe network’s TVL saw a steep decline. However, regardless of the incident, the amount A TON Locked-in liquid staking platforms have increased, reaching more than 57 million. Meanwhile, its TVL has started to rise rapidly again, surpassing $400 million.
Xeus also revealed that the blockchain’s Transaction Per Second (TPS) has reached a new high, with more than 100,000 TPS. According to Xeus, this milestone can encourage developers to create and launch projects on the network.
The increase in sales can be attributed to its low 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.
Featured image from LinkedIn, chart from Tradingview.com