The Open Network (TON) has positioned itself as a frontrunner among Layer-1 networks, capturing a substantial share of transaction volume in September 2024. This surge in activity can be attributed to a series of innovative Telegram-related projects that have successfully launched on its blockchain.
According to data from CryptoQuant, TON has emerged as the most popular Layer-1 blockchain in terms of transaction volume, accounting for an impressive 50% of the market last month. This traction is largely fueled by major token launches, including the viral tap-to-earn games Hamster Kombat and Catizen, as well as other projects like DOGS and Watbird.
The success of these clicker games has been instrumental in expanding the TON ecosystem. Notably, the DOGS meme coin saw an astounding 17 million token claims shortly after its launch on the TON network. Additionally, it achieved 28 million monthly active users (MAU) in August, surpassing 5 million unique wallets, and has effectively become one of the most popular meme coins in terms of holder count. Its integration within the Telegram ecosystem significantly enhances user engagement, distinguishing it from other meme coins.
The growth of the TON blockchain is also evident through the meteoric rise of Hamster Kombat, which reached the milestone of 150 million users shortly after its launch, making it the third-fastest app in history to achieve this feat. By late July, the game boasted upwards of 300 million users, marking a remarkable achievement in Web3 game development since its debut in March.
Catizen has also played a crucial role in TON's success. The popularity of its native token, CATI, has led to its adoption by major exchanges such as Binance and Coinbase, further solidifying the position of the TON blockchain in the market.
In a recent podcast, industry analysts Collin Wu and WuliGy discussed the strengths and weaknesses of TON compared to other blockchain projects. They highlighted that TON leads in the GameFi sector, which incentivizes user participation through unpredictable rewards.
Wu and WuliGy noted, “The ecosystems behind these tokens have huge potential, especially in regions like CIS, South Asia, and areas where credit cards are less common. As they gradually embrace Web3 and crypto payments, the growth potential is immense.”
As the TON blockchain continues to dominate Layer-1 transaction volume, its innovative projects and integration with popular platforms like Telegram have set the stage for its sustained growth. The combination of user engagement in gaming applications and the increasing adoption of crypto payments in emerging markets suggests a bright future for TON in the evolving landscape of blockchain technology. With the momentum it has built, TON is poised to remain a key player in the crypto space.
October 2024, Cryptoniteuae