In a crypto landscape marked by widespread pessimism—especially among altcoins—most projects are struggling to retain value. As Bitcoin fluctuates and山寨coins face steep declines, entire ecosystems have seen valuations cut in half or worse. Yet amid this bearish trend, The Open Network (TON) has emerged as a rare bright spot, defying the market with resilience and rapid growth.
Over the past 30 days alone, TON has gained 23%, while its Total Value Locked (TVL) has surged over 6x since March, climbing from under $23 million to more than $145 million. Projects within the TON ecosystem—such as Notcoin, Catizen, and Hamster Kombat—are seeing explosive user growth and rising engagement. Is TON on the verge of a sustained breakout? Let’s explore what’s fueling this momentum.
👉 Discover how TON is redefining blockchain adoption through real-world utility
The Rise of TON: From “Air” to Real-World Value
For years, TON was dismissed as an overhyped project with little tangible integration into Telegram, despite being originally conceived by Telegram’s founders. While it boasted a connection to Telegram’s 900 million active users, actual synergy between the two remained minimal. TON functioned largely like any other smart contract platform—used for staking, DeFi transactions, and cross-chain swaps—but without significant demand drivers.
That changed in early 2025.
1. Telegram Ads Settled in TON: A Game-Changing Integration
In February 2025, Telegram founder Pavel Durov announced that starting in March, all advertising revenue on Telegram channels would be settled exclusively in TON. This move marks a pivotal shift—from theoretical potential to real economic utility.
With over 1 trillion monthly channel views, even partial monetization represents massive transactional volume. Channel owners now earn 50% of ad revenue, paid directly in TON via the blockchain. For context:
- Over 100 countries now have access to Telegram’s ad platform.
- Payments are processed instantly and securely using TON’s high-speed, low-cost infrastructure.
- Revenue can either be withdrawn or reinvested into channel promotion—creating a self-sustaining economic loop.
This integration transforms TON from a speculative asset into a functional settlement layer for one of the world’s largest messaging platforms. Every ad impression, every payout, generates demand for TON—effectively turning user attention into token utility.
Moreover, to prevent centralization risks, Durov confirmed that over 10% of TON held by the core team will be sold at a discount to long-term holders, with proceeds locked for 1–4 years. This strategy reduces circulating supply while encouraging responsible ownership—boosting both scarcity and decentralization.
2. Introduction of Ton Space: Bridging Web2 and Web3
Launched in September 2023, Ton Space replaced Telegram’s old KYC-restricted wallet with a non-custodial solution. Unlike the previous version, Ton Space gives users full control of their private keys—making it functionally identical to traditional crypto wallets.
More importantly, users can now log into Web3 apps using their Telegram ID, enabling seamless access to DeFi, NFTs, GameFi, and more—all without leaving the app.
Imagine being able to trade tokens, mint NFTs, or play blockchain games directly from your messaging app—just like using mini-programs on WeChat. That’s the reality TON is building.
👉 See how integrated blockchain experiences are lowering Web3 entry barriers
3. Mini Apps Driving Mass Adoption
Telegram has begun aggressively promoting mini applications—lightweight, no-download dApps built on TON. These apps run natively within Telegram and leverage Ton Space for authentication and payments.
One standout example is Notcoin, a “click-to-earn” game that attracted over 40 million users in months. By combining viral mechanics with instant rewards in NOT tokens, it demonstrated how easily mainstream audiences can engage with Web3 when friction is removed.
Other popular mini apps include:
- Catizen: A leading game platform with over 20 million users and 500k paying players.
- Hamster Kombat: A viral play-to-earn game with over 150 million active users.
- Yescoin: A Notcoin-inspired clone growing at breakneck speed.
- PocketFi: A cross-chain trading bot with over 1.4 million users.
- Blum: A decentralized exchange (DEX) in development, already drawing over 10 million users through gamified mining.
These apps aren’t just games—they’re onboarding millions into crypto, often without them realizing they’re using blockchain technology.
Key Projects Powering the TON Ecosystem
While still smaller than Ethereum or Solana in terms of developer count and project diversity, TON’s ecosystem is growing rapidly—up nearly 60% in project count over the last eight months. Here are some of the most influential players:
DeFi Leaders: DeDust & Ston.fi
As the top two decentralized exchanges on TON, DeDust ($320M TVL)** and **Ston.fi ($260M TVL) account for nearly all of the network’s $634M DeFi lockup. Both offer seamless trading experiences optimized for mini app integration.
Ston.fi leads in community engagement with over 680k Telegram subscribers—evidence of strong grassroots support.
SocialFi Breakout: Uxlink
Uxlink leverages Telegram’s social graph to create viral referral systems. With over 10 million registered users, it’s becoming a foundational layer for social discovery and engagement on TON. Backed by top-tier VCs like Sequoia and GGV Capital, Uxlink could become the backbone of future SocialFi innovation.
Gaming Powerhouses
Games dominate TON’s app rankings:
- Catizen: Top-ranked in Ton Open League; proven monetization model.
- Gatto: Virtual pet game with over 1 million pets created and $35k monthly revenue.
- Gamee: Despite a 2024 hack setback, remains highly popular under Animoca Brands.
These projects show that entertainment is the Trojan horse for crypto adoption—and TON is perfectly positioned to capitalize.
Challenges Ahead
Despite impressive growth, TON faces real hurdles:
- Developer Shortage: Only 175 total developers (39 full-time), far behind Ethereum and Solana.
- Security Risks: Telegram’s history of account theft becomes more dangerous with integrated wallets. Phishing scams and fake bots are already widespread.
- Unproven Infrastructure: As a relatively new chain, TON hasn’t faced major stress tests during high congestion or attacks.
However, these issues are common in early-stage ecosystems. With sustained investment and community momentum, they can be addressed over time.
Frequently Asked Questions (FAQ)
Q: What makes TON different from other blockchains?
A: TON’s unique advantage lies in its deep integration with Telegram’s 900 million users. Unlike most chains relying on niche crypto audiences, TON offers a direct path to mass adoption through mini apps and native wallet access.
Q: Is TON fully decentralized?
A: While initially developed by Telegram, TON is now community-run. The recent plan to distribute team-held tokens to long-term investors aims to further decentralize control and reduce reliance on core entities.
Q: Can I earn crypto on TON without investing money?
A: Yes. Apps like Notcoin, Hamster Kombat, and Blum allow users to earn tokens through simple actions like clicking or playing games—making it accessible even to non-crypto natives.
Q: How secure is Ton Space?
A: Ton Space is non-custodial, meaning you control your keys. However, because it integrates tightly with Telegram accounts, securing your phone number and recovery codes is critical to avoid theft.
Q: Are TON-based tokens good investments?
A: Many early projects (like NOT) saw massive price surges post-listing. However, most lack strong utility beyond speculation. Investors should focus on protocols with real revenue, active users, and clear roadmaps.
Q: Will more exchanges list TON-based tokens?
A: Absolutely. As user activity grows, major platforms are increasingly adding support for TON assets—driving liquidity and visibility across the broader market.
Final Thoughts
While the broader crypto market remains subdued, TON stands out as a beacon of organic growth and real-world utility. Backed by Telegram’s massive user base and powered by frictionless mini apps, it’s creating a new model for Web3 adoption—one where users don’t need to understand blockchain to benefit from it.
With advertising revenue flowing into TON, DeFi protocols gaining traction, and gaming apps onboarding millions daily, the ecosystem is no longer just promising—it’s delivering.