Over the past month, TON (The Open Network) has proven its mettle in the cryptocurrency arena, holding strong while many other digital assets faltered. Despite a decline in value that mirrored Bitcoin’s downturn, TON has outperformed Ethereum, showcasing remarkable resilience and growth.
According to a recent report from Bitget, the TON ecosystem has experienced an astounding 1,800% surge in Total Value Locked (TVL) in less than six months. Daily transaction volumes have skyrocketed from 100,000 to a staggering 1.2 million over the past year, highlighting the platform’s explosive expansion.
Bitget attributes much of TON’s success to its deep integration with Telegram. This connection has not only popularized on-chain gaming apps and bots but also sparked a massive influx of users and trading activity.
Bitget’s report also emphasizes how TON differentiates itself from Ethereum. TON’s multi-chain architecture, asynchronous smart contract capabilities, and proxy solutions offer features that Ethereum currently lacks, setting it apart as a versatile and advanced platform.
The impact of early integration with TON is evident in Bitget Wallet’s success. It’s now the preferred choice for 68% of Telegram mini app users and accounts for 17% of all active addresses on the TON network. This strategic alignment has propelled Bitget Wallet to become the most downloaded Web3 wallet for two consecutive months, surpassing 12 million monthly active users.
Alvin Kan, COO of Bitget, highlighted the significance of this integration, “By tapping into Telegram’s vast user base, we’ve seamlessly bridged Web2 and Web3, creating a smooth and accessible experience for millions. This has fueled our growth to over 30 million user base with 12 million monthly active users, and makes us the No. 1 Web3 wallet by app downloads worldwide.”
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