What factors contributed to the success of TON?
A key factor in TON’s success is a program called The Open League, which incentivizes participation by rewarding users of the network’s top decentralized applications. The launch of the program has caused TON’s TVL to surge from $23 million in early March to $315 million today, according to DeFiLlama. This growth highlights the attractiveness of the opportunities and user experience that TON offers.
Why is TON seeing a surge in new wallets?
Further boosting TON's growth, activity on the creation of Notcoin, a popular game integrated as a Telegram Mini app, led to the addition of 1 million new wallets. This is a testament to the network's strong architecture, which can efficiently manage increased activity without network outages, higher fees or transaction delays. The Telegram Mini app allows users to seamlessly interact with a variety of services within the messaging platform.
Specific insights from TON’s growth
For those interested in the development of TON, the following specific insights are essential:
TON’s TVL growth highlights the value of incentivizing participation through projects like The Open League.
The surge in new wallets during the Notcoin event demonstrated the network’s ability to efficiently handle a large influx of users.
Integrating services like Telegram Mini Applications can boost user engagement and growth in the blockchain ecosystem.
TON’s blockchain journey began in 2018 as a project launched by Telegram that raised $1.7 billion in a private token sale. Despite delays due to a legal dispute with the SEC, the TON Foundation continued development, leading to the launch of the open network in 2021. Since then, TON has continued to grow, with Telegram using the network for initiatives such as sharing revenue with channel owners.
TON Blockchain’s cryptocurrency, Toncoin, is currently trading at $6.37, with a market cap of $22 billion and a fully diluted valuation of $32 billion. The latest funding comes from Pantera, one of the oldest venture funds in the cryptocurrency space, making it its largest investment to date in the network.
in conclusion
TON Blockchain's significant growth in TVL and new wallet creation highlights its potential in the DeFi space. By leveraging innovative applications and strategic initiatives, TON is well-positioned to continue its upward trajectory, providing valuable opportunities for users and investors. As the network grows, its ability to handle a large influx of users and seamlessly integrate with popular platforms such as Telegram will be critical to its continued success.
