TON surpasses 100 million wallet addresses. 

Telegram integration drives user growth. 

Despite this, TON is down 35% since its ATH. 

TON blockchain has recently seen impressive growth. Year over year, TON wallet addresses on TON were up almost 3000%, totaling over 100 million. This huge growth was largely due to TON’s integration with Telegram, and particularly due to Telegram games.  Sponsored

Despite these impressive metrics, Toncoin’s price isn’t keeping up with user growth. The token is down 35% from its all-time high earlier this year. A closer look at the figures shows why. 

The 3000% Surge in TON Wallets: What’s Behind It

Thanks to its deep integration with Telegram, TON shows impressive growth and engagement. Year over year, the number of wallets on the TON blockchain rose almost 3000%, from 3.5 million to 106 million. This figure represents the cumulative total of wallets that users created on the network. 

What is even more significant is the amount of active wallet addresses. This figure rose 2468% in the same period, from 888k to 22,8 million. This metric shows that user engagement with the platform is growing. 

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What’s behind this growth is TON’s deep integration with Telegram. This is especially true for Telegram’s crypto mini-games, especially Tap-to-Earn games like Notcoin. These games have attracted a significant amount of users and volume to TON. Still, despite this, TON’s growth is not keeping up with the figures. 

Why Toncoin is Struggling Despite Record Addresses

Since its integration with Telegram, TON showed impressive growth, rising 177.01% year over year. However, it has since started to decline. Currently, TON is down 35.37% from its all-time high of $8.24 in June this year. 

A close look at TON’s metrics shows why the token is declining from its ATH. Despite the significant growth in active addresses, this growth is slowing down. At the same time, TON network volume is also down from its June highs. Network volume dropped from almost $800 million to $418.13 million by October 14. 

This suggests that while user count is increasing, the most active users engage less with the network. This has a direct impact on TON’s burn mechanism, which involves burning 50% of all transaction fees that go to validators. Less volume means fewer tokens burned, making TON relatively more inflationary. 

On the Flipside

TON recently suffered a major shock after the arrest of Telegram CEO Pavel Durov. Its arrest worried investors due to TON’s integration with Telegram. 

TON was originally a Telegram project, but the messenger app had to divest from it after pressure from US regulators. 

Why This Matters

TON has seen impressive growth in wallet addresses. However, the fact that the price is not keeping up with this growth showcases the importance of user engagement with the blockchain. 

Read more about TON’s struggles after Telegram CEO arrest: Why TON Must Diversify to Survive Telegram Drama: Bitget

Read more about recent trends in exchange shutdowns: Singapore’s Fairdesk Exchange to Shut Down: Here’s Why

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