According to Odaily, one of the fastest growing cryptocurrency projects this year is The Open Network (TON), a project related to Telegram. Telegram's previous blockchain plans have drawn the displeasure of US regulators. However, by partnering with Telegram, TON managed to win over its 900 million monthly active users. This year, the total locked value of TON (TVL) has increased by 1400%, at one point exceeding USD 1 billion.
Data tracked by DeFiLlama and CoinGecko show that TON's market cap has tripled since January, putting it in the top 10. This significant growth demonstrates the potential and influence of TON in the cryptocurrency market. Despite previous regulatory challenges, the project has managed to achieve significant growth and popularity, largely due to its association with Telegram and the platform's huge user base.
It is worth noting that the rapid growth of TON is a testament to the growing recognition and adoption of cryptocurrency projects. TON's success also points to the potential for other projects to achieve similar growth by leveraging popular platforms and their user bases. However, it is also important for these projects to effectively overcome regulatory challenges to ensure their long-term success in the ever-evolving cryptocurrency market.
