The TON blockchain network has undergone a year of fantastic growth and transformed itself into one of the most dynamic ecosystems in the cryptocurrency space.
The pay-off for this work? Transfer volumes in 2023 skyrocketed to a near quadrupling of numbers from the previous year.
The pay-off for this work? Transfer volumes in 2023 skyrocketed to a near quadrupling of numbers from the previous year. And in this respect, 2024 could be said to mark a tornado (TON-dó) year for TON Blockchain.
Unprecedented Growth: Key Metrics Define TON’s Success
The figures reveal a remarkable growth story for TON in 2024. The network’s transfer volume surged from 530 million ($1.2 billion) in January 2024 to an incredible 1.69 billion ($8.24 billion) a year later. This translates into a 319% increase, year over year, in total transfer volume for TON, which now ranks as one of the leading blockchains in terms of adoption.
TON’s transfer volume skyrocketed 319% in just a year, climbing from 530M ($1.2B) in January 2024 to 1.69B ($8.24B) by January 2025.
This explosive growth signals accelerating adoption, renewed investor confidence, and $TON’s growing appeal as a major blockchain network. pic.twitter.com/7yz51ZXCnX
— Kyledoops (@kyledoops) January 23, 2025
Metrics from 2024 show an even clearer picture of the incredible rise of TON:
– 36.2 million new on-chain wallets were created, welcoming a wave of new users to the ecosystem.
– Monthly active addresses reached 40 million, daily active wallets surpassed Ethereum’s, and TON’s prominence continued to grow.
– The launch of USDt-TON didn’t hurt, with circulation hitting $1.4 billion in just eight months.
– Peak daily active wallets hit 1.8 million, and peak active DEX traders reached 4.8 million.
– TON’s DeFi ecosystem continued its exponential growth, with the total value locked in the system hitting over $776 million at its peak.
These milestones indicate how far TON has come in achieving its vision of putting cryptocurrency into the hands of everyone, and they show the strength of our emerging partnerships and the attractiveness of our developing products—attractive, that is, to a rapidly expanding user base.
USDt-TON: A Milestone for Cross-Border Payments
TON’s most prominent success story in 2024 came with the launch of USDt-TON in April. As Tether’s fastest-growing asset, USDt-TON saw its circulation soar to $1.4 billion in just eight months. It facilitated 26 million transactions across 3.5 million wallets and redefined the possibilities of Telegram-based cross-border payments.
From facilitating seamless transactions to propelling financial inclusion, USDt-TON has injected fresh momentum into TON-based applications, further cementing its status as a growth engine for the network. Enabling this is a new smart contract that allows USDt to function natively on the network, further diversifying the ecosystem.
Social Games and Airdrops: A New Web3 Frontier
The virality and airdrop campaigns used by TON developers to build a thriving social gaming environment reached their apex in 2024. Attention-grabbing projects like The Not Coin, Dogs’ House, and Hamster Kombat amassed hundreds of millions of players and effectively introduced a vast number of people to the Web3 space.
💎 TON 2024 年度總結正式發布！
回顧 2024 年 $TON 生態的精彩瞬間，DeFi、社交遊戲、USDt-TON 等領域實現了爆炸性增長！🧵
這些進展為 TON 的願景奠定了堅實基礎——將加密貨幣帶到每個人的指尖。
以下是推動這一切發生的關鍵！👇 pic.twitter.com/sK4z44EorN
— TON Society Hong Kong (@tonsocietyhk) January 24, 2025
Of these, The Not Coin ranked among the top five airdrop projects in 2022, distributing over $2 billion in rewards. These efforts served to do more than just entertain; they aimed to educate users about the opportunities provided by blockchain technology. By marrying social engagement with decentralized finance, TON is demonstrating the truly differentiating capabilities of its platform.
DeFi and Liquidity: Attracting Major Investors
In 2024, TON’s DeFi ecosystem saw extraordinary growth, drawing in heavyweight investors such as Pantera Capital. Its online transfer volume conformed to the pattern of a steadily oscillating sine wave, with total daily transfers fluctuating between $5 billion and $10 billion. Even when it was at its low point of $5 billion, that still accounted for an astonishing 10-20% of Bitcoin’s daily average transfer volume.
Key undertakings, such as the USDt-TON liquidity pool, were vitally important in drawing liquidity to the TON network. Furthermore, programs such as the TON Open League and various rewards schemes that disbursed over $26 million in incentives served to coax even more participants into the ecosystem. Also pivotal in instilling confidence and broadening the user base was the Memelandia incentive plan, aimed at architecture development of TON’s memecoin ecosystem— indeed a sure sign of both TON’s multi-faceted opportunities and potential profitability.
Telegram Integration: A Bridge to Web3
How is Telegram connected to TON? Telegram and TON are deeply integrated. This close relationship enables Telegram to become a super app in Web3. By 2024, when Telegram began supporting its first payments system in Toncoin, the platform housed more than 170,000 daily active wallets, according to estimates.
Telegram Stars has been established as a payment solution for in-app digital goods, while TON Mini Apps afforded the opportunity to create a mobile-first experience for users venturing into Web3, and, of course, the TON ecosystem. All these Telegram-based experiences have made for an exceptionally powerful (and powerful-looking) gateway through which one might labor under the delusion that entering the TON ecosystem might somehow be “gaining utility.”
Looking Ahead to 2025
TON has set an ambitious agenda for 2025 that builds on its 2024 accomplishments and includes:
– Strengthening ties with the Bitcoin community to increase developer engagement.
– Enhancing cross-chain interoperability by integrating with Axelar, LayerZero, Hyperlane, and Wormhole.
– Employing Telegram’s reach to the unbanked and underbanked as an entry point for TON services.
– Building a bridge between Bitcoin and Telegram that goes live in 2025.
– To ensure Bitcoin and TON working together, forming “Society DAO.”
Conclusion
In 2024, TON has set a sturdy foundation for the future and is now demonstrating its potential as a mass-adoption blockchain. Rapid growth in DeFi, social gaming, and payment solutions, combined with deep Telegram integration, means that TON is well-positioned to keep climbing in 2025.
Moving forward, TON seeks to cement its function as a conduit to the Web3 world, delivering blockchain technology to the hands of untold millions everywhere. TON’s future is blindingly bright, and its tale of triumph is only just commencing.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/the-explosive-rise-of-ton-a-2024-recap-and-2025-vision/