The Open Network (TON) blockchain has seen a remarkable surge in its on-chain metrics in 2024, with various key indicators showing significant growth. According to Artemis data, the daily average trading volume on TON’s decentralized exchanges (DEX) has skyrocketed from just over $2 million to $17.2 million in September, marking a staggering 760% increase year-to-date.
Daily active addresses on TON have also experienced a substantial rise, jumping from 26,274 in January to 902,737 in September — a remarkable 3,435% growth. Similarly, daily transactions on the network have seen a twelvefold increase, climbing from 232,286 in January to 2,823,801 in September.
User confidence in the network has also surged, with the total value locked (TVL) on TON reaching $741.3 million in September, up 8x from the beginning of the year when it was approximately $76 million. Additionally, a recent report by Bitget highlighted the increase in transaction fee revenue for TON, with users now spending around $75,000 daily on fees, contributing $37,500 daily to TON blockchain validators.
TON has emerged as a leading network for on-chain gaming, with a report by DappRadar revealing that it is the sixth-largest blockchain for gaming, boasting 177,000 average daily unique active wallets (UAW) in August. The report also noted a correlation between countries with a high number of Telegram users and TON’s usage, with Russia being a significant contributor due to its 35 million Telegram users.
Moreover, countries in the Commonwealth of Independent States (CIS) region have shown significant participation in TON dApps, with Belarus, Uzbekistan, Ukraine, and Kazakhstan among the top 10 countries interacting with Notcoin. South Asian countries and developing nations like Brazil and Nigeria have also demonstrated active engagement, particularly in projects offering free token rewards.
Overall, TON’s on-chain metrics have displayed impressive growth in 2024, solidifying its position as a prominent blockchain network for both trading and gaming activities.