- The core team supporting the network assured users that crypto assets were safe and unaffected.
- TON hit a local high of $5.98 after the Telegram founder was released from pretrial detention.
Telegram-owned Toncoin (TON) blockchain suffered a second network outage on the night of August 28, disrupting block production for four hours.
The incident, the second in as many days, has sparked concern on social media, with users questioning the reliability of the network as it continues to attract more and more users.
Increased traffic causes second disruption
The TON chain faced similar block production issues this week, halting block production for six hours on August 27.
The crash earlier this week was attributed to an overwhelming number of transactions related to the DOGS meme coin airdrop, which overloaded the network, causing validators to lose consensus.
The Open Network wrote at the time: “Several validators are unable to clean the database of old transactions, leading to the loss of consensus (…) Rest assured that your transactions will be completed, no cryptocurrency assets will be lost due to this issue.”
In a status update shared on X (Twitter), TON developers said the latest incident likely resulted from a similar transaction load on the network from the minting of DOGS meme coins.
Developers urged mainnet validators to update and restart their nodes in a separate update on the platform.
The latest TON crash has since been resolved as confirmed by an announcement on the TON Community Channel on Telegram.
“TON Network is fully operational! Withdrawals and deposits of TON-based assets into Wallet will be credited in due time.”
Data from the Tonscan block explorer showed that the chain is working and blocks are being actively recorded.
The second outage raises questions about the TON blockchain’s ability to maintain consistent performance, especially under stress.
Network reliability is essential to attracting a large user base, and repeated outages can undermine user confidence, as has been the case with Solana in the past.
The growing popularity of Telegram-based meme coins and the upcoming launch of Hamster Kombat’s recently announced HMSTR token in September could put even more pressure on the network.
TON/USD Price Analysis
Toncoin (TON), the native token of the Telegram Open Network, reached an all-time high of $8.24 in mid-June but has lost a significant portion of its value over the past three months, in line with the overall bearish market trend.
TON price has overcome the latest breakdown and was trading 4.76% higher over the past 24 hours at the time of writing.
However, TON remains disappointed, changing hands down 13.65% over the past 7 days after the sharp decline resulting from the news of the detention of Telegram founder and CEO Pavel Durov.
The tech company founder was charged with multiple counts in a French court on Wednesday (August 28) and granted conditional bail.
Source: TradingView
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Although TON faces a series of near-term challenges, a recovery of $7.26 could position it on a potentially rewarding path above that mark.
TON hit an intraday high of $5.98 on Binance on Wednesday following reports of Durov’s release, but has since retreated to $5.60, where it was last spotted at press time.
