On-chain statistics from IntoTheBlock indicate that there has been a notable decrease in the number of daily active users on The Open Network blockchain.
The on-chain stats and analytics service posted a chart on X that shows the dramatic decline in daily active users that the TON network has experienced in recent weeks.
Throughout this time, Toncoin, the native currency of the decentralized layer-1 blockchain backed by Telegram, has had difficulty gaining traction.
Early September saw a spike in TON’s active daily users as activity in the cryptocurrency gaming industry increased, according to a DappRadar analysis.
According to TON’s blockchain gaming measure, Catizen and Yescoin were two of the decentralized applications that drove user growth in Telegram.
On the other hand, the number of daily active addresses on the TON network dropped dramatically to just 1.58 million as of October 21 after surpassing 5 million on September 27.
This significant drop from 5.16 million active users at its peak to present levels occurred simultaneously with decreased network activity and market volatility.Â
There was a decrease in both new and zero-balance addresses; the metrics dropped from 2.58 million and 346,000 to less than 650,000 and 68,000, respectively.
Analysts at IntoTheBlock observed that TON has a history of seeing surges in active user activity following significant events and hype cycles.
Among a wider market decline, active user counts have significantly decreased. It appears that the decline was accompanied by Telegram’s recent issues, which included the fallout from founder Pavel Durov’s imprisonment and other events.
There was an increase in Dogs and other major airdrops on the TON network. Network events like the Alchemy Pay integration may increase the number of active users on TON.
