TON Hits Record 1.1M Daily Active Users

The Open Network’s (TON) outstanding performance has continued as the blockchain recorded a new milestone. The network announced it surpassed its daily user high and attained a new record.

In an X post on Saturday, TON revealed that the number of daily users involved in its network has surged up to 1.1 million. The blockchain further disclosed it has had a blistering week engagement-wise, as daily active users surpassed 1 million on three separate days.

TON reaches new ATH with 1.1M daily active users! 💎✊

Today, #TON achieved a new milestone, reaching an all-time high of 1.1M daily active onchain users! This week alone, daily active users surpassed 1M on three separate days.https://t.co/2m433twxVN pic.twitter.com/kWUiI3qACO

— TON 💎 (@ton_blockchain) August 31, 2024

TON began the year with only 3.6 million active addresses. However, increased traction saw the network grow over 100% eight months into the year. Data from Token Terminal showed that TON’s daily, weekly, and monthly users were 787,890, 3.12 million, and 5.47 million, respectively.

The recent user uptick could be tied to the recent launch of DOGS, a memecoin themed after Telegram founder Durov Pavel’s dog Scotty. The Monday launch saw an exponential influx of users into the network.

TON Thrive Despite Recent Downtime

Following the launch of DOGS on August 26, the TON network was subjected to a high network load due to the transaction volume. This caused the blockchain to struggle, as transactions per second (TPS) dropped below its expected level, which led to the halt of TON network operations.

The downtime lasted over six hours, with the network producing a new block by 5.30 a.m. UTC on August 28 after its last operation was by 11 p.m. UTC on August 27. Such prolonged interruption of operations raises concerns about the network’s scalability and stability.

TON announced early Wednesday that it had resumed normal block production, but the network went down for the second time that same day. At the time of writing, the blockchain was fully functional.

Telegram-Made TON?

Earlier this year, TON enrolled in a partnership with the messaging app Telegram. The validation of the blockchain by Telegram brought it into the limelight as the messaging app will allow users to pay using Toncoin and store their assets in the app. 

This collaboration has inspired the integration of the TON ecosystem as the network moved to the top ten cryptocurrencies by market cap. TON’s native token, Toncoin, is up over 200% year over year as the token continues to reap from the increased adoption of its parent network.

With new projects set to launch on TON soon, the network expects more user influx. Telegram-based Hamster Kombat announced earlier in the week that it would launch on September 26. The project boosts over 300 million users, signaling the capacity of TON will be tested again soon.

At the time of writing, Toncoin traded at $5.37, with a market of $13.6 billion. The token is down 21% in the past seven days, with most of the dip sponsored by Durov’s arrest in France.