JAKARTA - The Open Network (TON), a decentralized layer-1 blockchain, has shown tremendous growth in recent weeks. With a total locked value (TVL) that hit a record high of 605 million US Dollars (approximately Rp9.9 trillion) on Monday, TON is now one of the most popular blockchains with very high on-chain activity.
According to an analysis from CryptoQuant, the daily transfer volume of TON has now reached 10% of Bitcoin's daily transfer volume. Bitcoin, with an average daily transfer volume of 50 billion US Dollars (approximately IDR 822 trillion), now sees TONS as located between 5 billion US Dollars (approximately IDR 82 trillion) to 10 billion US Dollars (approximately IDR 164 trillion) per day. This figure shows that although it has only been in operation for a few years, TON has reached around 10% of Bitcoin capacity.
In addition to the surge in the total daily transaction value, the number of original TON token holders, namely Toncoin, has also increased sharply. The data shows the number of TON holders increased 10 times from 2.9 million last year to 32 million at the time this article was written. This increase underscores the growing popularity of TON and increasingly strong network bases.
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In a previous report by CryptoPotato, TVL TON reportedly doubled in three weeks, peaking at 605 million US Dollars. In late May, TVL TON was at 300 million US Dollars (approximately IDR 4.9 trillion), and continued to soar to reach 620 million US Dollars (approximately IDR 10 trillion) at the time of writing. This surge reflects the growing investor confidence in this decentralized financial network (DeFi).
On-chain experts attribute the surge in TON metrics to several key factors. One of the main factors is the launch of the Toncoin-based economy in the Telegram app. Telegram recently introduced an ad system that pays 50% of the revenue generated by the channel to its owners in TON form, not fiat. This initiative attracted a large number of new users to the TON network.
In addition, TON launched the The Open League program in early April, introducing long-term incentive programs for users, teams, and TON traders. Through this program, the TON Foundation will distribute 30 million TONS, valued at around 188 million US Dollars (around Rp. 3 trillion), to community members via airdrop, request, and liquidity pool on the decentralized exchange.
The existence of decentralized exchanges such as Ston.fi and Dedust, as well as liquid staking projects such as Tonstakers and Bemo, have also experienced significant TVL growth in the last two weeks, contributing to the development of the TON ecosystem.
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