Open network blockchains have recorded a significant decline in the number of daily active users, according to on-chain data from IntoTheBlock.
According to a graph shared by the on-chain metrics and analytics provider on X, the TON network has seen a sharp decline in the number of daily active users in recent weeks. Meanwhile, Toncoin, the native token of the decentralized layer 1 blockchain supported by Telegram, has struggled with upward momentum during this period.
TON’s daily active user count decreases
According to a report by DappRadar, TON’s daily active users spiked in early September due to increased activity in the crypto gaming space.
In the case of TON, the blockchain gaming metric tracks users across Telegram-based decentralized applications, among which Catizen and Yescoin were driving user growth.
However, the number of daily active addresses on the TON network has plummeted to just 1.58 million as of October 21, after exceeding 5 million on September 27.
This significant decline in active users from a peak of 5.16 million to current levels coincided with market disruption and reduced network activity. New addresses and zero balance addresses also decreased, with the metrics dropping from 2.58 million and 346,000 to less than 650,000 and 68,000, respectively.
Analysts at IntoTheBlock noted that TON has a history of spiking active users during big events and hype cycles. The number of active users has decreased significantly due to the overall market slowdown.
Telegram’s recent troubles, including the fallout from founder Pavel Durov’s arrest and other developments, appear to have coincided with a decline in its stock price. Major airdrops on the TON network, including Dogs, have proliferated. Network events such as the Alchemy Pay integration may increase the number of active users on TON.
