TL;DR
- TON Blockchain Dominates: Captured over 50% of all Layer-1 transactions in September 2024, surpassing Ethereum and Avalanche.
- GameFi Ecosystem: Viral games like Hamster Kombat and Catizen drove user engagement and boosted the total value locked (TVL) on TON.
- Future Prospects: Continued ecosystem expansion and adoption in regions like CIS and South Asia promise further growth for TON.
The Open Network (TON) has emerged as a dominant force in the Layer-1 blockchain space, capturing over 50% of all Layer-1 transactions in September 2024. This remarkable achievement has positioned TON ahead of major competitors like Ethereum (ETH) and Avalanche (AVAX), according to data from CryptoQuant.
GameFi Drives TON’s Growth
TON’s success can be largely attributed to its thriving GameFi ecosystem. Viral tap-to-earn games such as Hamster Kombat and Catizen have played a pivotal role in driving user engagement and transaction volume on the network.
These games have not only attracted millions of active users but have also significantly boosted the total value locked (TVL) on the TON blockchain.
Hamster Kombat, for instance, has become the third-fastest app in history to reach 150 million users shortly after its launch. By late July, the game reported upwards of 300 million users, marking a significant milestone in Web3 game development.
Similarly, Catizen’s popularity has led to its native token, CATI, being adopted by major exchanges like Binance and Coinbase.
Major Token Listings and Ecosystem Expansion
The success of these GameFi projects has been complemented by major token launches on the TON network. The DOGS meme coin, for example, reached 17 million token claims shortly after its launch and achieved 28 million monthly active users in August.
This surge in activity has helped TON dominate the Layer-1 transaction volume, with the network’s TVL increasing by nearly 40% in September, moving from $311.66 million to $431.98 million.
Future Prospects
The future looks promising for TON as it continues to expand its ecosystem and attract more users. According to industry experts Collin Wu and WuliGy, TON’s potential is immense, especially in regions like CIS and South Asia, where credit card usage is less common.
As these regions gradually embrace Web3 and crypto payments, TON’s growth is expected to accelerate further. TON’s impressive performance in September highlights the growing importance of GameFi in the blockchain space and sets the stage for continued success in the coming months.
