Telegram’s new ad platform and a switch to Toncoin (TON) payments from Euro have triggered an explosion of activity on the TON Blockchain, causing the number of active wallets and transactions to skyrocket high above the levels seen just a month ago.
According to data presented by Stocklytics.com, TON active wallets have skyrocketed by nearly 300% month-over-month and hit 1.64 million last week, showing twice their full-year growth in 2023.
On March 31, Telegram launched TON-based ads, enabling users to buy ads with Toncoin while sharing 50% of ad revenue with owners of public channels with at least 1,000 subscribers. The messaging app’s new ad platform and switch from Euro to TON Blockchain have caused a surge in the number of TON users, growing far more within a single month than in the entire last year.
According to TON Stats data, between December 2022 and December 2023, the number of active TON wallets jumped by 133%, rising from 5,670 to 13,260. And while 133% is a respectable increase, it’s not even close to TON’s user growth last month.
Statistics show TON network counted over 414,000 monthly active wallets in the first week of March. Over the past four weeks, this figure surged by 297% and hit 1.64 million, showing Telegram’s experimental embrace of crypto is succeeding.
Other key metrics are also significantly up. On-chain active wallets on the network have grown by 80% month-over-month and hit close to three million last week. Furthermore, on April 6, The Open Network recorded over 2.5 million daily transactions, 150% more than on the same date a month ago and 1475% more than on the same date last year.
Overall, the total number of accounts within TON, referring to any smart contract on the network, including wallets, NFTs, staking contracts, and other similar entities, jumped by 77% month-over-month, rising from 6.7 million to 11.9 million.
Although Telegram’s new ad platform has already boosted the value of TON’s native cryptocurrency, Toncoin, crypto analysts believe it is set to enter a lengthy bullish trend, which could help it rise above the $8 threshold by the end of the year.
At the time of writing, Toncoin traded at $5.5, 90% up from its price just a month ago and 133% more than in the first week of the year. The triple-digit price growth has helped crypto to add more than $10 billion to its market cap in the past four months. On January 1, the combined value of all Toncoin tokens was $7.98 billion; at the time of writing, it was $18.5 billion.
Leave a Comment