The Open Network (TON) blockchain has recorded a significant decline in daily active users, according to on-chain data from IntoTheBlock.
Decline in Daily Active Users
Recent data reveals that the TON network has experienced a sharp drop in daily active users. This decline has been particularly noticeable in recent weeks. Concurrently, Toncoin, the native token of the Telegram-supported decentralized layer-1 blockchain, has struggled to gain upward momentum during this period.
Early September Surge
In early September, a report showed that TONβs active daily users surged, largely driven by increased activity in the crypto gaming space. For TON, this metric tracked users across Telegram-based decentralized applications, with Catizen and Yescoin among those driving user growth.
Sharp Decline in User Numbers
However, after exceeding 5 million on September 27, the daily active address count on the TON network fell sharply to just 1.58 million as of October 21. This major decline, from a peak of 5.16 million active users to current levels, coincided with market turbulence and reduced network activity. Additionally, new addresses and zero-balance addresses also saw a decline, with metrics falling from 2.58 million and 346,000 to under 650,000 and 68,000, respectively.
βTON has a history of active user spikes during major events and hype cycles,β
noted IntoTheBlock analysts, highlighting the pattern of fluctuating user counts amid broader market slowdowns.
Factors Influencing the Decline
Several factors appear to have contributed to the recent decline in active users on the TON network. Telegramβs recent issues, including the impact of founder Pavel Durovβs legal troubles, seem to have coincided with the dip. Additionally, major airdrops on the TON network, such as those involving the Dogs project, initially caused a surge in activity.
Future Prospects
Despite the current decline, upcoming network events, such as the Alchemy Pay integration, may help boost the active user count on TON. These developments could potentially reinvigorate user interest and participation in the network.
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