TON Hits 1 Billion Transactions Amid Memecoin Airdrop Disruptions

The Open Network (TON), linked to Telegram, has reached over 1 billion transactions, according to TON Scan.

This milestone follows recent disruptions caused by a memecoin airdrop.

TON has seen significant growth, surpassing 1.02 billion transactions, with half of those occurring in the past three months. This surge reflects increased engagement from Telegram’s large user base.

Recently, TON Core and Tonkeeper introduced the W5 smart wallet standard, enabling gasless transactions with USDT fees. In May, Pantera Capital invested in TON to leverage Telegram’s user base for broader crypto adoption.

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Currently, TON supports around 280,000 daily active users and processes about 800,000 transactions daily. Despite this, the DOGS memecoin airdrop caused network issues, leading to two outages.

Between August 27 and 29, DOGS transactions made up over 30% of the 20 million processed transactions, pushing fees to six-month highs and stressing network validators.

Alexander Stefanov