TON Ecosystem Transaction Volume Surges by 1800% in Six Months: Bitget Research

Bitget, a cryptocurrency exchange and Web3 company has released a report on the rapid growth of the TON (The Open Network) ecosystem. According to the report, the TON ecosystem has seen an impressive 1800% increase in transaction volume in just under six months. With its 900 million active users, the platform, primarily from CIS countries like Russia and Ukraine, followed by India, Brazil, and the US, has become a key player in the cryptocurrency market.

The network hosts over 1,159 projects, including DeFi platforms, cross-chain bridges, and launchpads. Daily transaction volume has surged from 100,000 to 1.2 million over the past year, while the total value locked (TVL) has skyrocketed from $2 million to $40 million, marking significant growth for the ecosystem. The value of the native TON token has also reached an average of $5.5.

Gracy Chen, CEO of Bitget, highlighted the growing appeal of TON among tech-savvy users and its seamless integration with exchanges, citing the success of projects like DOGS and upcoming launches such as CATI and HMSTR.

A crucial factor driving TON’s growth is its integration with Telegram. This partnership has popularized various on-chain gaming apps and bots, contributing to the surge in user activity. Collaboration with prominent players like USDT, HashKey Group, and DWF Labs has also bolstered TON’s rise.

TON’s multi-chain architecture, asynchronous intelligent contract capabilities, and unique proxy solutions distinguish it from other blockchains like Ethereum, adding to its allure. However, the ecosystem faces challenges, particularly with low trading activity and limited DeFi options. To maintain momentum, TON must address these deficiencies and expand beyond its CIS-focused user base.

The Bitget report notes that while TON’s success is closely tied to Telegram, it may eventually move away from the platform to mitigate regulatory risks. As the ecosystem evolves, the TON token is expected to increase in value, attracting more traditional users to cryptocurrency.