TON's Surging Activity and DeFi Expansion

The Open Network (TON) is leveraging its integration with Telegram to drive blockchain adoption. In 2024, daily transactions and active wallets on TON surged, fueled by clicker games, the introduction of USDT, and basic DeFi protocols.

Significant Growth in TON’s DeFi Sector

TON’s DeFi sector experienced remarkable growth in 2024, with Total Value Locked (TVL) rising from ~$13.8M to ~$758M. This growth has been driven by popular platforms like DeDust and STON.fi. With Telegram's 900M monthly users, TON aims to enhance user experience through "mini-apps," making it easier for new users to enter the crypto space.

Inflation and Circulating Supply

In 2024, TON’s annual inflation rate is approximately 0.62%. The circulating supply of TON has increased by ~9% since the beginning of the year, reflecting significant growth in staked or locked tokens.

For a comprehensive analysis of TON's ecosystem and more insights into the Layer 1 blockchain ecosystem, check out "Layer by Layer: TON Ecosystem Leans into Consumer Apps" by the Block Research Analyst Kevin Peng . Available with a trial subscription at theblock.pro.