The Open Network Blockchain (TON) a brainchild of Telegram and created by Pavel Durov is currently leading all Layer One Networks.
TON blockchain accounted for over 50% of the total transaction volume of Layer One networks following the listing of major projects on the blockchain this month.
TON blockchain was launched in 2019 but it gained the attention of the industry in 2024 after a series of viral play-to-earn crypto projects were hosted on it.
The TON blockchain is at the center of what is dubbed the biggest onboarding of new users to crypto. This operation is spearheaded by Telegram as it builds crypto projects targeted at its 950 million global users.
Due to the presence of various popular and exciting projects on the TON blockchain. The Blockchain was responsible for the highest number of transactions among layer 1 networks.
TON Blockchain tops layer 1 networks in September
Data from Crypto Quant a blockchain analytics firm revealed that TON was the most popular L1 network in September accounting for 50% of all L1 transactions.
This traction on the TON blockchain can be ascribed to major token launches that happened last month including viral tap-to-earn games Hamster Kombat and Catizen and other projects like DOGS and Watbird.
These Tap to earn games or clicker games played a pivotal role in the traction that made the TON blockchain come afloat this September.
For example, the DOGS meme coin reached 17 million token claims shortly after its launch on The Open Network.
DOGS also achieved 28 million monthly active users (MAU) in August and surpassed 5 million unique wallets, cementing its position as one of the most popular meme coins by holder count.
The Utility of Dogs within the Telegram ecosystem boosts engagement and sets it apart from other meme coins.
Another good example is Hamster Kombat which is arguably the largest play-to-earn crypto project in the industry.
Hamster climbed to the third-fastest app in history to reach 150 million users shortly after launch. The Hamster Kombat team has claimed that its global player base has hit 300 million players making it one of the biggest projects in the industry.
The progress of the above projects contributed to the TON blockchain’s popularity, hence its transaction volume surge.
What to Know
- The TON blockchain witnessed a surge in its total value locked (TVL) which is up by almost 40% in September, moving from $311.66 million to $431.98 between August 27 and September 30.
- The TON blockchain is a product of Telegram’s decision to diversify into cryptocurrency and blockchain technology.
