The post TON Ecosystem Records 1800% Growth in Transaction Volume appeared on BitcoinEthereumNews.com.

TLDR: TON ecosystem’s transaction volume increased 1800% in under 6 months Daily transaction volume spiked 12x from 100,000 to 1.2 million over the year TON has 900 million active users, mostly from CIS countries Bitget Wallet is used by 68% of Telegram game users TON faces challenges in DeFi, expansion beyond CIS, and regulatory issues The TON (The Open Network) ecosystem has seen remarkable growth in recent months, according to a report released by cryptocurrency exchange Bitget. The blockchain network, which is closely integrated with the Telegram messaging app, has experienced a surge in transaction volume and user adoption, while also facing some significant challenges. According to the Bitget report, the TON ecosystem’s transaction volume has increased by an impressive 1800% in less than six months. This growth is reflected in the daily transaction volume, which has spiked from 100,000 to 1.2 million over the past year, representing a 12-fold increase. The network currently boasts 900 million active users, with the majority coming from Commonwealth of Independent States (CIS) countries, particularly Russia and Ukraine. Other significant user bases are found in India, Brazil, and the United States. The ecosystem hosts over 1,159 projects, including cross-chain bridges, decentralized finance (DeFi) applications, launchpads, and various other services. The Total Value Locked (TVL) in the TON ecosystem has also seen substantial growth, currently standing at $350 million. This represents an 18-fold increase in under six months, largely driven by the growth in decentralized exchange (DEX) trading volume, which has risen from $2 million to $40 million since the beginning of the year. Bitget Wallet, formerly known as BitKeep, has played a significant role in the TON ecosystem’s growth. The wallet is now used by 68% of Telegram game users and contributes 17% of active addresses on the TON network. Bitget Wallet has become…

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Filed under: News - @ September 17, 2024 8:23 am