The Open Network (TON) blockchain saw significant growth in its on-chain metrics in 2024, with trading volume, total value locked, active users, and daily transactions all growing rapidly.
According to data from Artemis, the average daily trading volume on TON decentralized exchanges (DEX) increased from just over $2 million to $17.2 million in September. representing a growth of 760% since the beginning of the year.
On-chain indicators are increasing
Artemis data reveals substantial growth in key network metrics throughout 2024. Daily active addresses on TON increased from 26,274 in January to 902,737 in September – A Growth of 3,435% since the beginning of the year.
At the same time, daily transactions saw an equally substantial increase, increasing 12 times from 232,286 in January to 2,823,801 in September.
It is worth noting that user confidence in the network has also increased this year, with the total value locked (TVL) on the network increasing 8x to $741.3 million in September, up from around $76 million at the start of the year.
Additionally, a recent research report from Bitget highlighted that the surge in activity has impacted the network’s revenue from transaction fees. Users spend about $75,000 per day on fees. This contributes about $37,500 per day to validators on the TON blockchain.
Chain Game Activity
TON has established itself as one of the leading blockchain gaming networks. A September 12 report from DappRadar revealed that TON is the sixth-largest blockchain for gaming, with 177,000 daily unique active wallets (UAWs) as of August.
The report also found a correlation between countries with the most Telegram users and TON usage, with Russia accounting for a significant share of activity on the network thanks to its 35 million Telegram users.
Additionally, the Commonwealth of Independent States (CIS) region as a whole shows strong participation in TON dApps, with Belarus, Uzbekistan, Ukraine, and Kazakhstan among the top 10 countries with the most interactions with Notcoin.
South Asian countries and third world countries like Brazil and Nigeria also show significant participation, especially in projects offering rewards in the form of free tokens.
