By 31st August, there were the following changes in stats for Toncoin:
Token price decreased by 19.8%
Accounts grew by 28.7% to 58.6 m
Activated wallets grew by 24.3% to 14.3 m
Daily active wallets increased by 4.6% to 551 k
TON price took a hit slipping to low $5 following the arrest of Pavel Durov – CEO and Founder of Telegram. Even though the token itself is separate from the messenger, it’s deeply integrated within Telegram and serves as a foundation for various features of Telegram, namely transactions, the crypto wallet, etc.
The Open Network (TON), Telegram's affiliated blockchain, has surpassed the milestone of 1 billion total transactions, driven by a recent memecoin airdrop that also led to two major network outages. Data from TON Scan reveals that the network’s transaction volume has now crossed 1.04 billion, with half of these occurring in the last three months alone. This rapid increase highlights growing user engagement on the TON platform, aided by its integration with Telegram’s nearly 1 billion global users. Despite these advancements, the network encountered difficulties when the DOGS memecoin airdrop triggered two outages between August 27 and 29. During this period, TON processed an impressive 20 million transactions, with DOGS-related activity making up more than 30% of the volume. This surge led to transaction fees hitting a six-month high and likely contributed to the network’s peak in daily active users, as noted by Ian Wittkopp, head of TON Ventures. The influx of activity overwhelmed some validators, affecting transaction processing and consensus.
Source: tonstat.com; cryptonews.com, 3 Sep 2024
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