According to #Dune, the TON ecosystem, which reached around 2.4 billion transactions by February or March, is currently going through a rough patch with a clear decline in user engagement and activity. Over the past month, daily transaction volume has rarely exceeded 3 million, a sharp decline from September — five months ago — when the network was processing over 10 million transactions daily and peaked at nearly 17 million in a single day. It should be noted that TON is not the only ecosystem to see a decline in attention. Other blockchains are seeing similar declines in interest. For example, Solana’s daily transactions have dropped from 12 million in January of this year to around 8 million now, while Ethereum’s daily transactions have declined from around 70 million in December 2024 to around 50 million now. Such fluctuations are a normal part of blockchain ecosystems, and no network is an exception. The future of the TON ecosystem largely depends on its founder, Pavel Durov, who has gained the trust and popularity of the CIS population. There is a high probability that he will be able to achieve the same in Europe and the West, laying the foundation for a promising future for the ecosystem.
The robust trading activity on the TON DEX platforms underlines the continued importance of the ecosystem. Over 5 million users interact with DEXs on the TON blockchain, and the most popular DEX, @ston_fi, maintains a monthly trading volume well above $50 million. With planned innovations such as cross-chain integration and a unique liquidity aggregator that promises even faster and cheaper transactions, this interest should continue to grow.
The key question remains: can TON abandon its reliance on “tap-to-earn” models, adapt to changing market conditions, and regain its former popularity?
$STON #TON #Durov #Analysis $TON
