TON Daily Transactions Soar 1,200% Despite Telegram Woes

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As a seasoned analyst with years of experience in the cryptocurrency market, I must admit that I am genuinely impressed by TON‘s recent performance. Having witnessed numerous digital assets crumble under pressure, it’s refreshing to see one hold its ground and even outperform industry giants like Ethereum.

Over the last month, The Open Network (TON) has demonstrated its strength within the cryptocurrency market, maintaining its position while numerous other digital currencies weakened. Although TON’s value decreased in a similar fashion to Bitcoin‘s dip, it outperformed Ethereum, displaying remarkable resilience and progression.

As a crypto investor, I’ve been closely following the TON ecosystem and it’s hard not to be impressed by its phenomenal growth. Just in the last six months, the Total Value Locked (TVL) has soared an astonishing 1,800%. That’s not all! Daily transaction volumes have exploded from a modest 100,000 to a mind-boggling 1.2 million over the past year. This rapid expansion is a clear testament to the platform’s explosive growth and potential.

Bitget credits a significant portion of TON‘s success to its robust integration with Telegram. This association has not only fueled the popularity of on-chain gaming applications and bots, but it has also triggered an enormous surge in user base and trading action.

Bitget’s report highlights the unique qualities that separate The Open Network (TON) from Ethereum. With its multi-chain infrastructure, support for asynchronous smart contracts, and innovative proxy solutions, TON provides functionalities that Ethereum does not currently offer. This makes it a flexible and advanced platform compared to Ethereum.

The advantage of early association with TON is clearly shown in the thriving success of Bitget Wallet. It’s now preferred by a whopping 68% of Telegram mini app users and makes up approximately 17% of all active addresses on the TON network. This strategic partnership has catapulted Bitget Wallet to the top spot, being the most downloaded Web3 wallet for two months in a row, with more than 12 million monthly active users.

Alvin Kan, COO of Bitget, emphasized the importance of this integration, stating that by connecting with Telegram’s large user community, we have successfully merged Web2 and Web3, offering a hassle-free and convenient experience to millions. This move has significantly contributed to our user base growing to over 30 million users, with 12 million active monthly users, making us the top global app downloaded Web3 wallet.

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2024-09-17 16:04