The Open Network (TON) blockchain, originally conceived by Pavel Durov, the creator of Telegram, has risen to dominate Layer 1 networks in recent months. Having first launched in 2019, TON gained significant traction in 2024 due to a surge in popular play-to-earn crypto projects hosted on the platform. As a result, TON now accounts for over half of the total transaction volume among Layer 1 networks, establishing itself as a leader in the space.
A New Wave of Users through Telegram’s Massive Reach
The TON blockchain has become central to one of the largest user onboarding efforts in the crypto world, primarily driven by Telegram. The messaging platform, which boasts a global user base of 950 million, has been actively building crypto projects aimed at integrating its vast network of users. This development has been instrumental in TON’s rise, allowing it to surpass other Layer 1 blockchains in terms of transaction volume.
Key data from blockchain analytics firm CryptoQuant revealed that TON was responsible for 50% of all Layer 1 transactions in September. This increase in activity was largely fueled by the listing of several high-profile projects on the blockchain during the month, contributing to its growing popularity.
Viral Projects Propel TON’s Popularity
The TON blockchain’s rapid ascent can be attributed to a series of viral token launches and gaming projects. Notably, tap-to-earn games such as Hamster Kombat and Catizen played a critical role in drawing users to the platform. These clicker-style games, which reward users for simple interactions, have been pivotal in generating traction for TON.
One standout project on the network is DOGS, a meme coin that saw remarkable success shortly after its launch. The DOGS coin achieved 17 million token claims and reached 28 million monthly active users (MAU) in August. Furthermore, the coin surpassed 5 million unique wallets, solidifying its position as one of the most widely held meme coins in the crypto space. DOGS benefits from its integration within the Telegram ecosystem, which helps drive engagement and sets it apart from other meme-based tokens.
Another significant project on TON is Hamster Kombat, a play-to-earn game that has rapidly grown into one of the industry’s largest gaming ventures. Shortly after its launch, the game became the third-fastest app in history to reach 150 million users. As of September, the Hamster Kombat team reported a global player base of 300 million, making it one of the biggest projects in the blockchain gaming space.
These projects, along with others such as Watbird, have been key contributors to TON’s rise in popularity. The success of these ventures has driven a surge in transaction volume, allowing TON to claim the top spot among Layer 1 blockchains.
Surge in Total Value Locked (TVL)
In addition to its transaction volume dominance, the TON blockchain has also experienced significant growth in its Total Value Locked (TVL). Between August 27 and September 30, the blockchain’s TVL increased by nearly 40%, rising from $311.66 million to $431.98 million. This surge further underscores the growing interest and investment in TON’s ecosystem.
Looking Ahead for TON Blockchain
The future of the TON blockchain appears promising, particularly as Telegram continues to expand its crypto initiatives. With its viral projects, massive user base, and increasing TVL, TON is well-positioned to maintain its leadership in the Layer 1 space. As more users flock to the network and new projects launch, TON’s influence in the blockchain sector is likely to grow even further.