The post TON blockchain risks fading into obscurity after a series of poor decisions appeared on BitcoinEthereumNews.com.

DefiLlama on-chain data has revealed a dwindling in multiple metrics on the TON blockchain, raising speculations that the blockchain and some of its decisions are risking its hold in the crypto and blockchain industry. Some of the metrics dropping as per DefiLlama data include total value locked, app revenue, Toncoin’s price, the project’s market cap, unique daily active addresses, and DEX trading volume.  The blockchain, which is best known for its tap-to-earn Telegram games, reached an all-time peak after Hamster Kombat’s launch. The game attracted over 100 million new users to the blockchain, increasing its daily active addresses. TON had also urged its validators in September last year to brace for a massive user influx as the blockchain game expanded.  TON attained its highest number of addresses in September 2024 at over 1.81 million active user addresses. The blockchain also received one of the highest monthly active users at the beginning of October last year, reaching over 11.8 million users. As of February 5, the chain’s daily active wallets have dropped to a little over 200,000 and monthly users to a little over 5.1 million.   Toncoin, the blockchain’s native token, hit its all-time high after Hamster Kombat’s launch in June last year, hitting $8.24. The coin has currently dropped by over 54% from its ATH, trading at $3.75 at the time of writing. Toncoin is down over 1.7% in the past 24 hours, over 22% in the past 7 days, and over 31% in the past month.  TON transaction volume and profitable addresses drop Over 240,000 #Toncoin $TON have been transferred to exchanges in the past week, potentially signaling increased selling pressure as shown by on-chain data from @santimentfeed! pic.twitter.com/FF9BBEMJzL — Ali (@ali_charts) January 29, 2025 IntoTheBlock data revealed that about 96% (over 108 million addresses) of TON holders are…

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Filed under: News - @ February 7, 2025 3:17 am