The Open Network (TON) blockchain has seen a significant increase in on-chain metrics in 2024, with trading volume, total value locked, active users, and daily transactions all increasing significantly.
According to data from Artemis, daily average trading volume on TON decentralized exchanges (DEX) increased from just over $2 million to $17.2 million in September – representing a growth of 760% since the beginning of the year.
Statistics in the chain are increasing
Artemis data shows that there will be substantial growth in the network’s key metrics by 2024. Daily active addresses on TON increased from 26,274 in January to 902,737 in September -A 3,435% growth since the beginning of the year.
Meanwhile, daily transactions saw a similarly substantial spike, increasing twelvefold, from 232,286 in January to 2,823,801 in September.
Notably, user confidence in the network has also grown this year, with the total value (TVL) on the network increasing eight times to $741.3 million in September, up from around $76 million at the start of the year.
Furthermore, a recent study by Bitget report pointed out that the broad increase in activity had an impact on the network’s revenue from transaction fees. Users’ expenses on fees are approximately $75,000 per day. This contributes approximately $37,500 to TON blockchain validators daily.
Game activity on the chain
TON has established itself as a top network for on-chain gaming. A September 12th report from DappRadar revealed that TON is the sixth largest gaming blockchain, with 177,000 average daily unique active wallets (UAW) in August.
The report also highlighted a link between countries with the most Telegram users and TON usage, with Russia accounting for a significant portion of the network’s activity thanks to its 35 million Telegram users.
Furthermore, the Commonwealth of Independent States (CIS) region as a whole shows heavy participation in TON dApps, with Belarus, Uzbekistan, Ukraine and Kazakhstan among the top 10 countries with the most interactions with Notcoin.
South Asian and Third World countries such as Brazil and Nigeria also show significant participation, especially in projects offering free token rewards.