TON Ecosystem Sees 1800% Surge in Transactions in Six Months

Bitget, a leading cryptocurrency exchange, released a report on September 18, 2024, detailing the significant growth of the TON ecosystem. The report highlights that the ecosystem has attracted 900 million active users, primarily from CIS countries, with a notable increase in total value locked (TVL) rising to $350 million, an 18-fold increase in less than six months. This surge is attributed to the growth in decentralized exchange (DEX) trading volume, which escalated from $2 million to $40 million since the beginning of the year. The integration of TON with Telegram has played a crucial role in this growth, facilitating the development of various on-chain gaming applications and bots. This has led to a substantial influx of users and a rise in trading volumes. Bitget Wallet, which has become the most downloaded Web3 wallet, has seen its user base grow to over 30 million, with 12 million monthly active users, largely due to its seamless integration with Telegram. Despite the current success, the report warns of potential regulatory risks associated with Telegram, suggesting that the TON blockchain may need to trend towards "de-Telegramization" in the future. This shift could help mitigate these risks while still leveraging the existing user base. The report concludes with projections indicating that the TON token is likely to rise alongside broader market trends, and the ongoing development of the TON ecosystem is expected to attract more traditional users to the cryptocurrency space.