The number of Toncoin holders has surged past 100 million, driven by the explosive popularity of Telegram-based games like ‘Hamster Kombat.’ This milestone marks a significant leap for the Telegram-linked blockchain, The Open Network.
TON’s Meteoric Growth
According to data from crypto analytics firm CryptoQuant, the total number of unique Toncoin addresses now stands at an impressive 104 million. This is a dramatic rise from just over 4 million at the start of 2024. A wallet is considered a holder if it contains a balance greater than zero, indicating a growing user base for TON.
This rise in holders is largely attributed to the surge in popularity of Telegram’s tap-to-earn games. Games like ‘Notcoin,’ which launched earlier this year, set the stage for a wave of follow-up titles, including ‘Hamster Kombat,’ ‘Catizen,’ ‘X Empire,’ and ‘Yescoin.’ Even the classic mobile game ‘Flappy Bird’ has been reintroduced as a Telegram crypto game.
Telegram Games Drive Adoption
Telegram users can access these games through mini apps built into the messaging platform, earning tokens in the process. These tokens are typically based on The Open Network, allowing users to trade them for Toncoin or other cryptocurrencies within the ecosystem. The recent ‘Hamster Kombat’ airdrop, which took place on September 26, was a key factor in TON’s latest milestone. This tap-to-earn game amassed over 300 million players, distributing its native HMSTR token to approximately 129 million users.
TON and Telegram: A Strong Connection
While Telegram is independent of TON, the blockchain remains popular among its users. Telegram has integrated TON into its ad revenue-sharing program with channel owners and introduced an off-chain currency called Stars, which is tied to Toncoin. TON was initially developed within Telegram before regulatory scrutiny forced the company to abandon the project in 2020. Since then, the community has taken over development, leading to TON’s remarkable growth.
However, TON’s close association with Telegram has occasionally led to setbacks. In August, Toncoin’s price dropped after Telegram CEO Pavel Durov was arrested in France for alleged non-cooperation with authorities regarding illegal activities on the platform. Despite this, Telegram has since committed to working more collaboratively with law enforcement and has introduced measures to limit illegal content on its app.
Conclusion
With the rapid rise in TON holders and the growing popularity of Telegram’s tap-to-earn games, The Open Network continues to establish itself as a major player in the blockchain space. As Telegram deepens its integration with TON, the future looks bright for both the cryptocurrency and its ecosystem.
