TON is now one of the top ten cryptocurrencies, and its rise is rapid

Today, TON rose more than 25.3% in 24 hours, and was quoted at $6.91 at the time of writing. After this increase, TON's market value has reached $23.4 billion, surpassing ADA to become the 10th largest cryptocurrency by market value.

What happened to the TON ecosystem recently? From the Token Terminal data, it can be seen that the activity of the TON network has gradually increased since February. In the past seven days, the number of active network addresses exceeded 800,000, reaching 827,100, an increase of 97.8% compared with the previous month. Before the half of April, TON's monthly active users have exceeded 1 million, which is 121% of the entire March.

Ton network data for April, March and February

According to Defillama data, TON network TVL has increased by 661% in the past two months and has exceeded 144 million US dollars.

Backed by Telegram, which has 900 million users, the imagination space of TON ecology was originally very high. Steve Yun, president of TON Foundation, once said in a speech that its goal is to attract 30% of Telegram users to join TON by 2028. It is expected that TON will have 500 million active users in 2028. But in the past year, the price of TON has been fluctuating below $3.

In 2024, several developments of Telegram have greatly increased the crypto community's expectations for TON's growth. First, on February 28, it was announced that the upcoming advertising platform will use the TON network for transactions and withdrawals, and Telegram officials will share revenue with channel owners based on the TON network. On March 1, Binance launched TON's contract trading.

Related reading: "Telegram ads will be paid in TON, what impact will it have on TON? "

On March 11, Telegram founder Pavel Durov revealed in his first public interview in five years that since the introduction of advertising and premium subscription services two years ago, the Dubai-based social media app has become one of the most popular social media in the world, with revenue reaching "hundreds of millions of dollars." Durov said: "We hope to be profitable this year or next year, and the IPO is coming soon."

Related reading: "900 million users, valued at $30 billion, "Dark Version of WeChat" decides to go public"

Based on these dynamics, the price of TON has risen from around $2 in February, with a monthly increase of more than 100%. In addition to Telergam, the TON Foundation has also recently taken measures to activate the ecosystem and boost TON's rise again.

On April 1, the TON Foundation announced the launch of the first season of the Open League. It is reported that this open league is intended to encourage more users to participate in the TON ecological project, and the TON Foundation will distribute 30 million Toncoins to the community. The TON project will compete every month to win prizes, and TON ecological users can get rewards by participating in the project.

Previously, TON launched a two-week league pilot season, in which its TVL increased by 70% and daily active wallets increased by 370%. This official season is even more popular. The price of TON has risen by more than 30% on the day the season started, which means that the value of this reward has exceeded 200 million US dollars.

At the Web3 Conference held in Hong Kong, TON once again elaborated on its unique advantages in the "social scene" and introduced representative projects of the TON ecosystem. It is reported that the Web3 pet game Catizen has more than 1.3 million game users, 210,000 daily active users, and more than 1.7 million on-chain transactions two weeks after its launch on TON.

In addition to actively operating the encryption ecosystem, TON and Telegram are also more deeply integrated. Today, TON Society and HumanCode, an artificial intelligence project, announced that they are working together to launch a $5 million incentive program to introduce palm scanning to verify digital identity. HumanCode's technology allows users to verify their human identity through a simple palm scan and is suitable for all smartphones. The program aims to provide secure digital identities for 500 million Telegram users within five years.

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