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On-chain TON Stats Every Investor Should Pay Attention To

 

By Reel Coverage Oct 20, 2024

 

TON's on-chain data flips bullish as renewed sentiments drive liquidity inflow into TON-based coins, signaling a rising interest in the ecosystem.

 

Audio memes, a prominent player in TON's latest buzz, offers a new and creative approach to memecoins creation and solidification of cultures that can drive exposure and growth. 

 

 

 

→ The Report 

 

As “Tap-to-Earn” meta slows down due to recent unfair drops from famous tap to earn projects and games including Hamster Kombat, the biggest till date, the sentiments towards TON's potential for growth turned mixed. 

 

Confidence in TON-based gaming projects leveraging Telegram as an onboarding gateway, played a crucial role in the open network's(TON) popularity, thanks to projects like Notcoin and DOGS memecoin.

 

On-chain data provides strong evidence to the explosion growth of TON blockchain, stemming from tap to earn and Telegram mining crypto games.

 

The Open Network saw a spike in created accounts, achieving over 100 million accounts in the last year, with over 39%, 39 million+ being created in September alone. 

 

Thanks to major airdrop launches including Watcoin and the over 300 million players game - Hamster Kombat, September was the single biggest month of adoption for TON. 

 

The network showed resilience to increased traffic, scaling effectively with technologies like Mintless Jetton, enabling the Hamster Kombat team to instantly mint and distribute tokens to millions of TON users with a small fee and low load on the network. 

 

This scaling solution was introduced rapidly after the launch of DOGS memecoin airdrop in August, which caused the TON blockchain to stop block production and even top exchanges like Binance and Bybit struggled due to increased traffic. 

 

Tonstats

 

TON's Active Wallets Declines 

 

Post-listing of the Hamster Kombat's token, HMSTR, the TON blockchain hit a major decline in active wallets. 

 

First decline was witnessed on Oct. 04, a week after the launch of the HMSTR on major crypto exchanges. 

 

The TON blockchain’s active monthly addresses has since declined by 17%, signaling a potential exit of disappointed Hamster Kombat players as said data was rather trending upwards following launches like Notcoin and DOGS, to which the community considered fair and profitable launches based on data from numerous public polls on X. 

 

That said, the trend of liquid staked TONCOIN has steadily increased within the same timeframe. This rise to 68.9 million liquid staked TON is a record 15% increase since the listing of HMSTR. 

 

Whilst liquid staking increases, and TON's total staked supply sits at 628 million, the staking APY has however declined by 6.5%, now yielding an estimated 4.5% annually. 

 

Memes On TON To Attract Liquidity

 

As memecoins launches remain on rotation across several blockchains including Ethereum, Solana and SUI, fresh liquidity is expected to flow into TON as a new twist to memecoins creation hits the spotlight, called audio memes. 

 

A unique offering by the GasPump meme launchpad, audio memecoins are simply memecoins with audio narratives. By attaching a short audio to memecoins created on the TON blockchain, a new wave of culture is expected to form with far more creative branding to memecoins. 

 

$TAKEN, an audio memecoin created by prominent TON voices including Jeribond and Damx.ton, hit the ecosystem 4days ago and has since attracted over 1,400 holders and sits at a $300k market capitalization at the time of writing. 

 

While sentiments on TON's future as a valuable crypto asset and blockchain remains mixed, developments remains hyperactive with fresh projects hitting the spotlight and new memecoins contributing to the $450 million marketcap of memes on TON, a figure widely considered an

undervaluation of the meme cultures at the open network.