TON Network Surpasses 100 Million Holders in 2024 Growth Surge

On Oct 10, 2024

TON holder base grew from 4.3 million to 100 million in 2024 due to Telegram integration and mini-app expansion.
Travala’s integration with TON enhances Web3 adoption, offering over 2.2 million properties globally for crypto-based bookings.

With the number of users exceeding 100 million in 2024, the Open Network (TON) has achieved an amazing turning point on its path towards mainstream acceptance. The network only had 4.3 million members at the beginning of the year, so this was more than a 2,000% rise over a few months, according to CryptoQuant.

Its close connection with the extensively utilized Telegram messaging app explains this fast development. Users of this platform can quickly engage with TON’s decentralized ecosystem without having to follow difficult procedures, including wallet setup. TON’s accessibility has opened doors for numerous new people entering the Web3 and crypto space.

$TON Holder Count reaches 100 million
“At the beginning of the year, the number of holders was ‘only’ 4.3 million. This shows that #TON has experienced huge growth.” – By @JA_Maartun
Read more 👇https://t.co/sqFPm5bM9d pic.twitter.com/V0Ikl1bkXF
— CryptoQuant.com (@cryptoquant_com) October 8, 2024

Mini-Apps and DeFi Growth Fuel TON Expansion

The boom of Telegram’s mini-app ecosystem drives much of TON’s success. Rising in popularity, these mini-apps, such as Hamster Kombat, have helped TON onboard millions of users.

With 900 million monthly active users of Telegram, TON has a great potential audience and simpler access to interact with its blockchain technology. In-app purchases and other monetizing choices for developers improve TON’s appeal even more and entice even more producers into its system.

TON’s growing prominence in distributed finance (DeFi) also helps to explain this fast acceptance. Approximately $400 million has been reached in total value locked (TVL) on the TON blockchain during the previous year, which has steadily increased.

Its ranking among the top 20 blockchains according to DeFi criteria during this growth demonstrates TON’s growing relevance in the larger crypto industry. TON is expected to keep on its increasing trend as more people swarm to its platform, therefore strengthening its place in the market.

There have, nevertheless, not been without difficulties with this enormous user migration. Growing TON popularity has occasionally resulted in network congestion; one famous example of this is the DOGS memecoin airdrop, which momentarily taxed the system and resulted in higher transaction fees.

Notwithstanding these challenges, TON’s integration into Telegram has been mainly considered successful, therefore establishing Telegram as a significant participant in the always changing blockchain scene.

Concurrent with this are worries about wealth concentration inside the network. According to data, big holders retain a sizable share of TON’s supply, which begs issues regarding the possibility for price control and the general network decentralization.

Furthermore, market volatility remains a major concern even if TON’s holding base has undergone exponential expansion. Meanwhile, the TON price has varied during the year; at the time of writing, the token is trading for $5.11, a 2.11% drop over the last 24 hours.

Notwithstanding these obstacles, many experts think that TON’s expanding user base and ecosystem expansion will eventually assist the token to stabilize.

Adoption of TON is not just restricted to personal users; also, collaborations and integrations with other systems are quite important. One such is the well-known travel booking tool Travala, which bases on cryptocurrencies.

As we previously reported, Travala services over 600 international airlines and provides more than 2.2 million homes spread over 230 nations. Travala is projected to improve TON’s user base even more by merging with TON since this cooperation helps people to use TON’s blockchain for practical uses more easily.