The Open Network (TON), the most trending blockchain of 2024, hit an amazing user activity milestone, according to its foundation's president. In 2024, its activity was bootstrapped by U.S. Dollar Tether (USDT) expansion and massive airdrops.

TON blockchain sees 100x increase in MAU, Foundation President Yun says

Telegram-linked blockchain network TON has accomplished a major milestone in user activity. In the last 12 months, its net number of monthly active users (MAU) went through a 100x increase. Steve Yun, TON Foundation President, shared the statistics today on his X account.

According to his data, the blockchain is now delivering its services to over 12.4 million users across the globe. The protocol has secured over $123,000 in fees daily.

In 2024, TON onboarded a number of applications that contributed to this activity milestone. As covered by U.Today previously, since March, TON supports its own version of USDT, the largest stablecoin by market cap.

Also, its HMSTR and DOGS airdrops in August-September made waves in the crypto community. Both were among the largest cryptocurrency distribution campaigns ever.

TON's killing feature is its ability to onboard new wallets directly from Telegram messenger. To create an on-chain address and start transacting, users should only activate the wallet in-app bot with no need to install third-party apps.

TON meme coins decimated amid crypto plunge

Also, TON became a hotbed for tap-to-earn apps in Q3, 2024. Hamster Kombat mania introduced blockchain to a new generation of customers. 

In early Q4, 2024, once the dust settled, TON-based meme coins are having tough times. In recent weeks, all of them lost over 20% in capitalization.

For instance, DOGS dropped by 25% in seven days, while REDO is 14% down. 

Toncoin (TON), the core native cryptocurrency of the blockchain, lost 11% of its market cap but still remains the 10th largest cryptocurrency.