According to The Block, the 7-day moving average (7DMA) of daily transaction volume on the TON network has increased by 160% since Telegram founder Pavel Durov was arrested by French authorities on August 24, 2024.

The following is an excerpt from the Blockchain Data & Insights newsletter.

After Durov’s arrest, network activity grew exponentially, with a sharp rise in network transactions and active addresses. The 7-day moving average (7DMA) of daily transactions on the TON network reached a new all-time high. The network reached 8.68 million transactions on August 31, surpassing the previous record of 8.56 million transactions set on January 17.

The number has continued to grow over the past week, surpassing 10 million transactions on Friday. It has increased by more than 160% since Durov’s arrest.

The 7-day moving average (7DMA) of daily active addresses on the TON network also reached a new all-time high. As of Friday, the number of active addresses on the TON network was approximately 701,800, an increase of 6% from last Friday.

However, unlike network activity, the price of TON tokens has not reacted well to Durov’s arrest. Since the incident, TON tokens have fallen by more than 30%.

While the overall poor market conditions may have also played a role in the drop, the effect of the arrest cannot be ignored as TON tokens fell by approximately 20% within three hours of the news.

This is an excerpt from the Blockchain Data & Insights newsletter, a deep dive into the data that makes up the industry’s most illuminating trends.