The Open Community Blockchain (TON) a brainchild of Telegram and created by Pavel Durov is at present main all Layer One Networks.
TON blockchain accounted for over 50% of the overall transaction quantity of Layer One networks following the itemizing of main initiatives on the blockchain this month.
TON blockchain was launched in 2019 however it gained the eye of the business in 2024 after a collection of viral play-to-earn crypto initiatives have been hosted on it.
The TON blockchain is on the heart of what’s dubbed the largest onboarding of latest customers to crypto. This operation is spearheaded by Telegram because it builds crypto initiatives focused at its 950 million world customers.
As a result of presence of assorted fashionable and thrilling initiatives on the TON blockchain. The Blockchain was chargeable for the very best variety of transactions amongst layer 1 networks.
TON Blockchain tops layer 1 networks in September
Knowledge from Crypto Quant a blockchain analytics agency revealed that TON was the preferred L1 community in September accounting for 50% of all L1 transactions.
This traction on the TON blockchain could be ascribed to main token launches that occurred final month together with viral tap-to-earn video games Hamster Kombat and Catizen and different initiatives like DOGS and Watbird.
These Faucet to earn video games or clicker video games performed a pivotal position within the traction that made the TON blockchain come afloat this September.
For instance, the DOGS meme coin reached 17 million token claims shortly after its launch on The Open Community.
DOGS additionally achieved 28 million month-to-month lively customers (MAU) in August and surpassed 5 million distinctive wallets, cementing its place as one of the vital fashionable meme cash by holder rely.
The Utility of Canines inside the Telegram ecosystem boosts engagement and units it aside from different meme cash.
One other good instance is Hamster Kombat which is arguably the most important play-to-earn crypto mission within the business.
Hamster climbed to the third-fastest app in historical past to succeed in 150 million customers shortly after launch. The Hamster Kombat group has claimed that its world participant base has hit 300 million gamers making it one of many greatest initiatives within the business.
The progress of the above initiatives contributed to the TON blockchain’s recognition, therefore its transaction quantity surge.
What to Know
- The TON blockchain witnessed a surge in its whole worth locked (TVL) which is up by virtually 40% in September, transferring from $311.66 million to $431.98 between August 27 and September 30.
- The TON blockchain is a product of Telegram’s choice to diversify into cryptocurrency and blockchain expertise.
