Quick Take:

• 7-day transaction average on TON surged from 645,000 to 5 million.
• Telegram’s blockchain TON, originally Telegram Open Network, evolved amidst SEC scrutiny.
• Ad revenue sharing in TON’s native token, toncoin, boosted monetization of Telegram channels.
• Integration of Tether’s USDT stablecoin on TON expanded liquidity options.
• Rise of Telegram-based crypto games like “Hamster Kombat” drives user engagement and token rewards.
• Toncoin emerges as the ninth-largest cryptocurrency, with a market cap surpassing $18 billion.
• TON sees rapid growth in active addresses and transaction volumes, signaling robust adoption.
• Pantera Capital leads investments in TON, reflecting confidence in its future.

Main Article: The Telegram Open Network (TON) and its native cryptocurrency, toncoin, have emerged as prominent players in the cryptocurrency landscape, characterized by rapid adoption and innovative applications. Originally conceived as the Telegram Open Network by the messaging app Telegram, boasting a massive user base exceeding 900 million, TON faced regulatory challenges from the U.S. Securities and Exchange Commission (SEC). Despite this setback, the project pivoted to become an open-source initiative, with Telegram continuing to provide support.

In February, Telegram introduced a groundbreaking ad revenue sharing model on TON, aimed at monetizing its extensive network of channels. This initiative enables channel owners to split ad profits evenly, with payouts exclusively in toncoin, thereby integrating financial incentives directly into Telegram’s ecosystem. At the launch of ad revenue sharing, only 10% of Telegram channels were monetized, despite generating a staggering 1 trillion views monthly. Content creators not only have the option to cash out their toncoin earnings but can also reinvest tokens into their channels for promotion or enhancement, fostering a self-sustaining cycle of growth within the TON ecosystem.

Further enhancing TON’s utility and appeal, Tether, the issuer of the world’s largest dollar-pegged stablecoin (USDT), launched its stablecoin on the TON blockchain in April. This integration significantly bolstered liquidity options within the TON ecosystem, with USDT supply on TON surpassing 500 million within two months of its launch.

The recent surge in TON’s user activity can be attributed to the rising popularity of Telegram-based crypto games such as “Hamster Kombat,” “Notcoin,” and “Catizen.” These interactive games incentivize users with in-game currencies convertible into real airdrops, appealing strongly to a demographic seeking both entertainment and financial rewards. Similar phenomena in other blockchain ecosystems, such as the “Tapos” game on Aptos, underscore the profound engagement potential of such clicker games among crypto enthusiasts.

Toncoin, the native token of TON, has mirrored the network’s exponential growth. Currently ranked as the ninth-largest cryptocurrency by market capitalization, toncoin’s market cap has surged to over $18 billion, more than doubling since the beginning of the year. Concurrently, TON’s total value locked has escalated, surpassing $600 million, demonstrating robust network utilization and investor confidence.

Investor sentiment towards TON remains optimistic, with prominent crypto venture firm Pantera Capital spearheading significant investments in the network. Following its largest-ever investment in TON in May, Pantera Capital is now raising a second fund dedicated to the blockchain, underscoring its belief in TON’s long-term growth potential.

The growth trajectory of TON is substantiated by compelling usage metrics. The 7-day moving average of transactions on TON has skyrocketed from 645,000 earlier this year to an impressive 5 million, highlighting a substantial increase in blockchain activity. Similarly, the number of active addresses on TON has surged from 26,000 to over 340,000, underscoring widespread adoption and community engagement.

While the charts depicting TON’s metrics may experience fluctuations, the overall trend indicates upward momentum. While it remains to be seen whether this growth is sustainable in the long term, TON has evidently positioned itself as a significant player in the crypto ecosystem, with activity levels surpassing pre-2024 benchmarks.

In conclusion, TON and toncoin exemplify the evolution of blockchain technology within social media platforms, offering innovative solutions that blend financial incentives with user engagement. As TON continues to expand its capabilities and integrate deeper into Telegram’s vast user base, it presents a compelling case for sustained growth and development in the dynamic world of digital finance.