TON Blockchain Reaches 100 Million Users Amid Ecosystem Growth

The Open Network (TON), a layer 1 blockchain linked to the social platform Telegram, has reached a new milestone in its history.

According to data from a CryptoQuant analyst, the L1 blockchain has reached 100 million unique wallet addresses with non-zero balances. This represents a 95% increase in active users since the start of the year, which was “only” 4.3 million.

What’s behind TON’s growth?

TON’s increase in active users stems from its ties to Telegram. Although the social messaging platform initially created the TON blockchain under the name Telegram Open Network, plans to integrate it into its ecosystem failed, forcing the blockchain project to be abandoned. A new team of developers picked up where they left off.

Telegram reignited its interest in TON in September 2023, launching its crypto wallet on the L1 blockchain. Fast forward to this year, and various play-to-earn projects began to emerge on Telegram. The problem was that players completed specific tasks to earn tokens redeemable through the TON mainnet.

One of the first clicker games to debut on the L1 network was Notcoin, which attracted millions of users. Other projects, such as Dogs and Hamster Kombat, quickly emerged, capturing the attention of millions. More and more Telegram-based games have flooded the social app, inviting more users to join their ecosystems.

The CryptoQuant analyst highlighted that Telegram’s ties to TON have helped onboard millions of users into the crypto industry.

Will the price follow?

Despite TON’s latest milestone, the network’s native coin Toncoin has failed to impress recently. At the time of writing, the coin was selling for $5.19, representing a 1.4% price drop over the past 24 hours. The current price represents a 37% decline from its all-time high of $8.24, seen in June 2024.

Last month, CryptoPotato reported that 80% of Toncoin holders were lost due to the coin’s sharp decline. The crypto asset will likely see its price increase again as its ecosystem grows and major cryptocurrencies like Bitcoin unlock higher prices.