The TON blockchain, formerly developed by Telegram, has just crossed a decisive threshold: that of 100 million active users. This figure demonstrates rapid and massive adoption, propelled by a series of technological developments within the ecosystem. But, this rise in power calls into question the mixed performance of Toncoin, TON's native crypto.
An explosion of users linked to Telegram
The TON blockchain, initially developed by Telegram before being taken over by an independent team, has seen spectacular growth this year. According to CryptoQuant data, the platform now has 100 million active wallets with a positive balance, compared to just 4.3 million at the start of the year. This 95% increase is largely attributable to the initiatives of Telegram which integrated a crypto wallet directly into its application in September 2023.
In addition to this integration, the appearance of “tap-to-earn” games on messaging played a key role in this growth. Titles like Notcoin and Hamster Kombat have captured the attention of millions of users. Thus, they encouraged them to join the TON ecosystem. Additionally, these games allow users to earn tokens through completing simple tasks, thereby increasing blockchain adoption. This fun strategy made it possible to democratize access to blockchain among the general publicthanks to a transformation of Telegram members into TON users.
Toncoin: performance out of step with the growing popularity of TON
However, behind this significant growth lies a more complex economic reality for Toncoin. Despite the rapid development of the ecosystem, TON's native crypto is struggling to keep up. Indeed, Toncoin is trading at $5.22, a drop of 37% from its all-time high of $8.24 reached in June 2024. Nearly 80% of Toncoin holders are currently at a loss.
This situation is partly explained by the volatility inherent in the crypto market, but also by the rapid growth of blockchain which has not yet fully impacted the value of its assets. While investors remain optimistic about a future Toncoin recovery as the TON ecosystem continues to grow, the current depreciation leaves room for doubt.
The explosion in the number of users on the TON blockchain is a promising sign for the adoption of decentralized technologies, but it should not obscure the current economic challenges facing Toncoin investors. While Telegram continues to attract millions of users to its ecosystem, the performance of the native crypto remains out of step with this popularity, despite the billion transactions.
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