This article evaluates The Open Network's (TON) on-chain data and growth compared to other major Layer 1 blockchains. TON ranks 4th in daily active addresses with 500,000 users, driven by its integration with Telegram, which significantly boosted its Total Value Locked (TVL). Despite this growth, TON lacks behind in application development compared to rivals like Ethereum and Solana. The article addresses the challenges and opportunities facing TON, while highlighting its strategy of leveraging Telegram's vast user base. This content is ideal for blockchain enthusiasts and developers seeking insights into TON's potential and ecosystem dynamics. Keywords: TON, on-chain data, Layer 1 blockchains, Telegram integration, ecosystem growth.
TON ranks 4th among major L1 chains with 500,000 daily active addresses
The Open Network (TON) has established itself as a formidable player in the blockchain ecosystem, now ranking 4th among major Layer 1 blockchains with approximately 500,000 daily active addresses. This impressive milestone demonstrates TON's growing adoption and user engagement in the competitive blockchain landscape.
TON's daily active wallet count has seen remarkable growth, increasing eightfold from 60,000 in March 2024 to nearly 500,000 today. What makes this achievement particularly notable is that TON has surpassed established cryptocurrencies in terms of user activity, with USDT trading volumes on the network reaching $1.2 billion.
When comparing TON to other major blockchains by daily active addresses, the competitive positioning becomes clear:
| Rank |
Blockchain |
Daily Active Addresses |
| 1 |
BNB Chain |
4.9 million |
| 2 |
Tron |
3.0 million |
| 3 |
NEAR Protocol |
2.8 million |
| 4 |
TON |
500,000 |
| 8 |
Bitcoin |
544,300 |
| 9 |
Ethereum |
503,100 |
This growth trajectory places TON among the fastest-growing networks in the blockchain space, despite having a more modest Total Value Locked (TVL) of approximately $19.4 million as of February 2024. The rapid expansion in active addresses indicates increasing user adoption and transaction activity, positioning TON as an increasingly significant player in the blockchain ecosystem.
TON's TVL reached $770 million, driven by Telegram integration
The integration of TON with Telegram has catapulted its ecosystem to unprecedented heights, with Total Value Locked (TVL) reaching a remarkable $770 million milestone in July 2024. This impressive growth directly correlates with the blockchain's strategic partnership with Telegram, a messaging platform boasting over 900 million users worldwide.
The TVL trajectory has shown significant fluctuations over recent months, reflecting the volatile nature of the crypto market:
| Time Period |
TVL Value |
Change |
| July 2024 |
$770M |
Peak |
| August 2024 |
~$600M |
-22% |
| October 2024 |
$400M |
-48% |
| Current |
$500M |
+25% |
This dramatic shift in TVL demonstrates both the potential and challenges facing the TON ecosystem. The substantial decline from July's peak can be attributed to broader market corrections and profit-taking after the initial surge of interest following deeper Telegram integration features.
Despite these fluctuations, TON's unique position as Telegram's native blockchain provides unparalleled access to a massive user base approximately 100 times larger than all other blockchain platforms combined. This integration creates a frictionless onboarding experience for mainstream users entering the Web3 space, from simple USDT transfers to gaming applications, positioning TON for potential recovery and sustainable growth in the coming months.
TON ecosystem lacks applications compared to competitors despite growth
Despite TON's impressive growth metrics reaching 500,000 daily active addresses and $155.23 million in total value locked (TVL) by 2025, the ecosystem lags behind major competitors in application development with only 792 applications. This presents a stark contrast when examining the blockchain landscape:
| Blockchain |
dApp Count |
Key Strengths |
Main Categories |
| TON |
792 |
Telegram Integration |
NFTs, DeFi, Payments |
| Ethereum |
4,000+ |
Value Dominance |
DeFi, Gaming, DAOs |
| Solana |
2,500+ |
Speed/Performance |
Trading, Gaming |
| BNB Chain |
3,000+ |
Volume Leadership |
GameFi, DeFi |
This disparity stems from TON's strategic focus on integrating Web3 mechanics directly into Telegram's mini apps rather than pursuing traditional dApp development. While this approach leverages Telegram's massive user base (800M+), it has slowed the onboarding of traditional decentralized applications. The ecosystem's NFT leadership—ranking #1 globally in trading volume and active traders—demonstrates TON's potential despite fewer applications. The recent implementation of TAC for EVM compatibility indicates TON is addressing this limitation, while the TON Foundation's Champion Grants program launched in May 2025 aims to accelerate ecosystem growth through comprehensive support for developers.
FAQ
Is TON a good coin?
Yes, TON is a promising coin with strong partnerships, technological advantages, and growing market adoption, making it a good long-term investment option.
What is the Toncoin?
Toncoin is a decentralized cryptocurrency created by Telegram, designed for fast and low-cost transactions within the TON ecosystem. It powers the TON blockchain and enables various applications and services.
How much is 1 Toncoin worth?
As of 2025-11-19, 1 Toncoin is worth $2.03 USD. The price may fluctuate based on market conditions.
Is there any future for Toncoin?
Yes, Toncoin has a promising future. With high futures activity and potential for price growth above $3.50, TON shows strong market interest and development potential in the Web3 ecosystem.
* The information is not intended to be and does not constitute financial advice or any other recommendation of any sort offered or endorsed by Gate.
