TON has emerged as one of the best-performing Layer 1 blockchains in 2024, according to a recent analysis by CryptoQuant. The blockchain has shown a remarkable 118% increase in performance over Bitcoin since the start of the year. This sets the network apart from other popular Layer 1 chains, which have struggled to gain traction.
Among major blockchains, only TON and BNB have significantly outpaced Bitcoin during this period. This strong performance, along with the support from Telegram’s large user base, makes it a standout cryptocurrency to watch during this bull run.
Ton Blockchain’s Growth and Expansion
Despite a rocky beginning, the Telegram Open Network (TON) has grown substantially over the past year. It has become one of the largest projects in the cryptocurrency industry by total market capitalization. This growth is due to its vibrant and expanding ecosystem, which has attracted many developers and users.
One notable project on the network is Notcoin (NOT). Launched on Binance Launchpool and OKX Jumpstart, Notcoin has a total supply of 102,719,221,714 NOT. Recently, Notcoin announced it would donate 1.03 billion NOT, valued at $6.8 million, to Telegram founder Pavel Durov and Telegram.
Strategic Partnerships
TON’s success is also supported by several key partnerships. Recently, Tether, a major stablecoin issuer, and The Open Network teamed up with the Oobit mobile app to facilitate USDT-to-fiat transactions. This collaboration allows TON users to pay merchants in fiat currency using Oobit’s Tap & Pay technology while spending USDT. The app integration also simplifies transactions with Tether’s USDT and Tether Gold (XAUt) on the network.
