The Open Network (TON) has solidified its position as a top Layer-1 blockchain solution, according to experts from the analytical firm CryptoQuant. Over the past month, the TON network accounted for a staggering 50% of all transactions across Layer-1 blockchains. Analysts attribute this surge to the launch of multiple tokens within the ecosystem, which has attracted a significant influx of new users.
Notably, several projects have seen impressive user growth: DOGS reported 28 million monthly active users, Catizen reached 18 million, Rocky Rabbit recorded 18 million, Watbird had 12 million, and Hamster Kombat skyrocketed to 110 million monthly users.
Earlier, CryptoQuant highlighted a dramatic increase in both transaction volume and the number of active addresses on decentralized exchanges within the TON network, signaling a growing interest among investors.
As of the time of writing, the Total Value Locked (TVL) across TON’s ecosystem has surpassed $427 million. The network’s native token, Toncoin (TON), is trading around the $5.8 mark, based on data from TradingView.
The surge in user activity is partly driven by the recent listing of the Hamster Combat token, which took place on September 26, 2024. Following this event, the TON team issued a notice to its community, warning about increased network congestion due to the overwhelming demand.
With its expanding ecosystem, burgeoning user base, and increasing investor attention, TON is positioning itself as a dominant player in the competitive L1 space.
INFO: incrypted.