TON Blockchain Sees Surge in Layer-1 Transaction Volume

The Open Network (TON) has emerged as a prominent player among Layer-1 networks, holding a substantial share of transactions in the L1 sector throughout September.

The TON blockchain captured widespread attention in 2024, driven by a range of Telegram-associated projects deployed on its platform.

TON Blockchain Dominates L1 Transactions in September

According to CryptoQuant data, TON is currently the leading Layer-1 network in transaction volume, representing 50% of the market last month. This surge is attributed to significant token launches on its platform, such as the popular tap-to-earn games Hamster Kombat and Catizen, alongside other initiatives like DOGS and Watbird.

These clicker games have indeed played a crucial role in the expansion of the TON ecosystem. As reported by BeInCrypto, shortly after its launch on The Open Network, the DOGS meme coin achieved an impressive 17 million token claims.

The token also reached 28 million monthly active users (MAU) in August, surpassing 5 million unique wallets, establishing itself as one of the leading meme coins by the number of holders. Its integration within the Telegram ecosystem enhances user engagement and distinguishes it from other meme coins.

Read more: What Are Telegram Mini Apps? A Guide for Crypto Beginners

Similarly, Hamster Kombat experienced an incredible surge, becoming the third-fastest app in history to amass 150 million users shortly after its launch. By late July, the game reported over 300 million users, a remarkable achievement in Web3 game development since its debut in March.

Moreover, Catizen has significantly contributed to the success of the TON blockchain. Due to its rising popularity, the exchanges Binance and Coinbase have listed its native token, CATI. The standout successes of these projects, among others, have enabled the TON blockchain to lead in L1 transaction volume.

In a recent podcast discussion, Collin Wu and WuliGy evaluated TON alongside other projects to highlight their respective strengths and weaknesses. They noted that TON leads in the GameFi sector, attracting users through the allure of unpredictable rewards.

“The ecosystems surrounding these tokens possess enormous potential, particularly in regions like CIS, South Asia, and locales where credit cards are less prevalent. As these areas gradually adopt Web3 and crypto payments, the opportunities for growth are substantial,” stated Collin Wu and WuliGy.

Read more: What Are Telegram Bot Coins?

With TON leading the gaming sector, the total value locked (TVL) on the blockchain has surged by nearly 40% in September, increasing from $311.66 million to $431.98 between August 27 and September 30, as indicated by data from DefiLlama shows.