TON Ecosystem: 2024 Year in Review

If there’s one word to describe 2024 for TON, it’s "movement." Rapid price surges and drops, the rise of new gaming models, major announcements and integrations — this year was packed with developments for the entire TON ecosystem. Let’s break down the key events that made it so memorable.

TL;DR: 2024 Highlights for the TON Ecosystem

• Beginning of the year: TON traded in the range of $2.012–$2.465. In March, growth began following Pavel Durov’s announcement about TON-based payments via Telegram Ads.
• Open League and TVL: The ecosystem reached $115 million in TVL during the first season of Open League. By June, this figure had grown to $500 million.
• Tap-to-Earn: Notcoin became the leading Tap-to-Earn app. The game attracted 35 million users within months, and its token was listed on top exchanges.
• Summer 2024: TON hit a new all-time high (ATH) of $8.24. Growth was driven by Notcoin’s success, the launch of USDt, and rumors of a Binance listing. In August, the price dropped to $5 due to global economic concerns and the arrest of Pavel Durov.
• September – December: TON surpassed 1 billion transactions. The number of unique accounts reached 100 million. NFT stickers, Memelandia, and the TON Teleport BTC testnet for Bitcoin integration were launched.
• Conclusion: The TON ecosystem successfully navigated the challenges of 2024. The project maintained its status as one of the fastest-growing Web3 ecosystems.

January: Stability and New Project Launches

The year started calmly for TON. The token price remained in the $2.012–$2.465 range, and a brief dip to $1.8 in January was quickly bought up. This period served as preparation for major changes. Several significant projects were launched within the ecosystem.

Notcoin: A Record-Breaking Tap-to-Earn Launch

On December 31, 2023, TON’s first Tap-to-Earn game, Notcoin, was launched. Within a week, the project gained 4.1 million users, setting a record even compared to milestones like ChatGPT.

• Game mechanics: Users simply tapped a coin in a Telegram Mini App to earn in-game currency. Earnings could be boosted through tasks, upgrades, and pool creation.
• Results: By the end of January, the user base had reached 15 million, with over 5 million daily active users. Notcoin became a key driver of interest in TON and its capabilities.

EVAA Protocol: A New Era for DeFi on TON

On January 10, EVAA Protocol, the first lending protocol in the TON ecosystem, launched on the mainnet. The project introduced decentralized lending, borrowing, and EVAA XP Rewards point farming.

EVAA secured investments from TonCoin Fund, WAGMI Ventures, and other funds.

Today, EVAA is undoubtedly a foundational element of DeFi on TON, with a TVL of $75 million.

February: Launch of Open League and Preparation for Telegram Integration

Open League: Pilot Season of Activities

On January 29, the pilot season of Open League was launched — a program aimed at attracting and engaging users within the TON ecosystem.

The program’s goal was to bring 5 million users to ecosystem projects within a year.

Results: Open League brought together more than 26 million users across projects like Wallet, Notcoin, and Fanton, creating a strong foundation for further growth.

Readiness for TON Integration into Telegram

In a February 28 post, Durov announced that starting in March, Telegram would begin distributing ad revenue to channel owners via the Telegram Ads platform, with all payments being made exclusively in TON. This marked the beginning of TON’s deep integration into the Telegram ecosystem.

Key points of the announcement:

• Channel owners will receive 50% of ad revenue.
• Telegram Ads expands operations to 100 countries.
• Payments will be processed through TON Blockchain.

This news instantly became a catalyst for TON’s price surge. With over 800 million active users, Telegram created a unique utility for TON, giving the token real economic value.

March: The Beginning of TON’s Price Surge

Right after Durov’s announcement and the launch of Open League, TON’s price began to rise rapidly.

The chart shows that March was a turning point, as the token’s price broke out of the $2.4–$2.6 stability range and entered a phase of steady growth, reaching $3.2 by mid-month.

Spring Surge: Telegram, Binance Rumors, and $7.65

A series of major announcements and initiatives led to remarkable results for the ecosystem, with TON’s price reaching a new all-time high of $7.65 in mid-April. Let’s break down the events that contributed to this surge.

March 4: Open League Launch and 60% DEX TVL Growth

Open League started its pilot season in January, but from March, user activity skyrocketed. LP Boosts (liquidity incentives) for DEX platforms STON.fi and DeDust led to a 60% increase in Total Value Locked (TVL) within just one week. In March, TON Foundation announced a reward pool of up to 1 million TON, driving a 370% increase in active wallets.

Open League distributed projects into four categories:

• DeFi: 150,000 TON
• Tokens: 150,000 TON
• Apps: 150,000 TON
• Liquid Staking: 100,000 TON

Projects competed based on metrics such as TVL, active wallets, and transaction volume. Winners could reinvest their prize funds into community growth.

Each category had its own leaderboard with KPI-based rankings, encouraging users to engage actively with projects. This strategy produced significant results: daily transactions exceeded 5 million, and TVL reached $115 million by the end of April.

Users actively participated in Quests, Airdrops, and Liquidity Pool Boosts, earning tokens and attracting fresh liquidity to TON. Top-performing projects in Open League included STON.fi, Notcoin, and Gram.

March 8: Mirana Ventures Invests $8M in Toncoin

An $8 million investment from Mirana Ventures, a strategic partner of Bybit, became another major event of the month. This further strengthened TON’s position as a leading blockchain ecosystem:

• Bybit gained access to Telegram Ads, unlocking new community engagement opportunities.
• $MNT tokens were integrated into TON Space, connecting 800 million Telegram users with Mantle Network.
• @Wallet’s trading mechanism was improved, enhancing transaction efficiency and price optimization.

This investment further boosted institutional confidence in TON.

April 2: First Open League Season Begins

TON Foundation announced the launch of the first full season of Open League, with a 30 million TON budget. The season lasted three months and included:

• Key projects: Gram, STON, RAFF, SCALE, Arbuz.
• Reward mechanics: token mining, quests, bounties, and liquidity pool incentives.

Projects competed to advance from Minor League to Major League, while users earned rewards for their activity. Thanks to this initiative, the number of active on-chain wallets grew by 225% in a month, reaching 1.3 million, while TVL surged by 363%.

April 18–22: Network Fee Reductions

On April 16, validators voted on reducing network fees. As a result, on April 22, fees were lowered by 2.5x, making TON even more accessible.

Key changes:

• Jetton-with-governance transactions (e.g., USDt) now cost just $0.04.
• Validators approved precompiled smart contracts, reducing execution costs for popular contracts.

Announcements from TOKEN2049

At the TOKEN2049 conference, several key plans were revealed, setting a new direction for TON’s growth:

• USDT integration on TON: Users gained access to stablecoins with low transaction fees.
• Telegram monetization: Launch of tokenized stickers, donation features, and new tools for content creators.
• Notcoin: 35 million users in three months, making it the most successful Web3 game to date.

Spring 2024 became a time of major transformations for the blockchain. The price of TON increased by more than 200%, while the number of users and assets in the ecosystem reached new heights. These events laid the foundation for further growth and strengthened TON’s status as a leading blockchain in the Web3 world.

May – July: ATH at $8.27 and the Rise of Tap-to-Earn

Tap-to-Earn games became the main driver of ecosystem activity growth. The success of Notcoin and the new season of Open League helped TON reach its all-time high of $8.27. Additionally, July was marked by significant announcements from Pavel Durov, setting new directions for the TON ecosystem:

• Built-in browser for blockchain websites.
• Mini Apps catalog.
• New tools for content creators.

May 4: New Season of Open League

Open League continued its development with even larger prize pools and increased user engagement:

• $115 million in TON distributed through Open League over three months.
• The number of active wallets in the ecosystem reached 1.3 million, while TVL grew to $198 million.
• Top-performing projects: Notcoin, STON.fi, RAFF, SCALE, Gram.

These achievements fueled the growth of Toncoin’s price, while mechanics like token mining and liquidity boosts attracted new users and strengthened the blockchain economy.

May 13: USDt-TON Reaches $200 Million in Circulation

Less than a month after launch, the circulating volume of USDt-TON exceeded $200 million, setting a new record for Tether.

"When will it reach $1 billion?" — wondered members of the ecosystem.

May 17: Notcoin Shakes the Market

Notcoin, a Telegram Mini App, continued dominating the ecosystem with 35 million active users. In his Telegram channel, Pavel Durov highlighted that Notcoin had evolved from an in-game currency into a full-fledged crypto asset, becoming one of the fastest-growing projects on TON.

Key highlights:

• Notcoin launched on the TON blockchain with immediate listings on tier-1 exchanges.
• Market capitalization reached $700 million in just a few days.
• Notcoin became a blueprint for future Telegram Mini Apps, combining viral mechanics with real utility.

May 20: Pantera Makes Its Largest Investment in Fund History

Pantera Capital, one of the largest blockchain investment funds, announced its biggest-ever investment in TON. The company’s founder, Dan Morehead, emphasized:

• Telegram has already built a massive audience (930 million users) and is integrating blockchain technology.
• TON’s integration with Telegram makes blockchain more accessible and understandable for the mass market.

Later, on June 16, Pantera Capital announced a second round of investments in TON blockchain tokens.

Pantera is confident that TON will become one of the key blockchain ecosystems of the future.

May 21: STON.fi Reaches $100 Million TVL

STON.fi became the first DEX on TON to achieve $100 million TVL in the TON/USDT pool. Additionally, the platform secured investments from CoinFund, Delphi Ventures, and others. These funds were directed toward further DEX development and improving user experience.

May 24: TON Onboards 1 Million Users in 30 Hours

The launch of Notcoin on TON became one of the key events for the ecosystem:

• Over 1,000,000 new on-chain Notcoin holders.
• 841,170 token mints.
• 216,530 DEX transactions in 30 hours.

This milestone demonstrated TON’s potential as a Web3 mass adoption platform within Telegram.

Read more here

June 25: USDt-TON Reaches $500 Million in Circulation

Two months after the launch of native USDt on TON, its circulating supply reached $500 million.

June 30: $700 Million TVL on TON

TVL in the TON ecosystem grew from $22.9 million in March to $700 million in June — an increase of over 2900%.

July 10: Start of Open League Season 5

Season 5 of Open League began with a $1.15 million prize pool. Participants could compete in four categories: App, DeFi, Token, and NFT.

• 27 out of more than 40 submitted applications were included in the season.
• $1.4 million in rewards was allocated for liquidity providers.

July 22: Partnership Between Animoca Brands and TON Foundation

Animoca Brands and TON Foundation announced a strategic partnership, establishing a $20 million fund to support developers.

Key points:

• Promoting TON as a blockchain for gaming and entertainment projects.
• Integrating systems like Moca ID and TON Society ID to enhance interoperability.
• Hackathons and acceleration programs to support Web3 builders.

The chart shows how TON's price continued to rise in May, reaching $8.24 in June. This growth was driven by the success of Open League, USDt adoption, Notcoin's rising popularity, and strategic partnerships. However, by July, the market entered a summer flat phase, and TON’s price corrected due to natural market volatility and expectations for further ecosystem updates.

August – September 2024: Challenges, Recovery, and Activity in the TON Ecosystem

August was one of the most challenging months in TON’s history. The month began with a global crypto market correction: on August 5, TON lost over 18%, dropping to $6.50. However, the most significant shock came with the arrest of Pavel Durov in France on August 24, triggering market-wide panic. TON’s price crashed below $5, and TVL dropped below $300 million.

Despite the turbulence, the ecosystem showed resilience. Major events included:

• TON listing on Binance (August 8) — The largest crypto exchange launched TON trading with BTC, USDT, FDUSD, and TRY.
• Launch of TON Ventures ($40M) (August 14) — A venture fund to support early-stage projects in the ecosystem.
• Reaching 1 billion transactions (late August) — A key milestone showcasing TON’s scale.
• Expansion of the TON/USDt Rewards Program ($32M) (August 22) to boost liquidity.

August 1: Support for Web3 Websites on TON in Telegram

Telegram now supports decentralized websites on TON via its built-in browser, bringing Web3 access to nearly 1 billion users.

Key features:

• TON DNS — Domain linking (e.g., foundation.ton) without centralized certificates.
• Wallet Login — Password-free authentication via TON Wallet.
• Payments through domains — Users can link TON wallets to websites for transactions.

August 8: TON Listed on Binance

After long anticipation, Binance officially listed TON and launched TON farming on Launchpool (7,650,000 TON). This boosted liquidity and attracted new investors.

August 14: Launch of TON Ventures ($40M)

A new fund, created by former top executives of TON Foundation and major Web3 players, was launched to support early-stage projects. Investments focus on Mini Apps, infrastructure tools, and social integrations within Telegram.

August 22: Expansion of the TON/USDt Rewards Program ($32M)

The USDt liquidity incentive program on TON was extended until the end of 2024.

Key results:

• Trading volume increased by 65% in a month, reaching $1B.
• Daily volumes exceed $100M.
• STON.fi and DeDust LP pools offer some of the best conditions for USDt holders.

August 24: Arrest of Pavel Durov — The Biggest Stress Test for TON

French authorities detained Pavel Durov, accusing him of non-cooperation with law enforcement. This triggered a domino effect:

• TVL dropped below $300 million.
• TON fell below $5.
• The community launched the #FreeDurov movement, and TON changed its logo to Resistance Dog.

Vitalik Buterin, Justin Sun, and other Web3 leaders expressed their support for Durov. Telegram stated that it operates in full compliance with EU regulations and that the company is not responsible for how users utilize the platform.

August 25: Official Statement from TON Community

TON Community released a statement reaffirming its unwavering commitment to decentralization and freedom of speech. Despite Durov’s arrest, the ecosystem remained operational, and the community continued building.

August 26: DOGS Listing and Network Stress Test (10M+ Simultaneous Transactions)

• The withdrawal of DOGS tokens via Mini App caused a spike in network load, leading to a record-high TPS (transactions per second).
• As a result, on August 28, TON temporarily stopped processing transactions for several hours due to validator overload.
• TON Core developers restarted the network and implemented updates to improve resilience.

August 30: New Record — 1.1 Million Daily Active Users

TON reached a new all-time high of 1.1 million daily active users on the blockchain.

September 2: 1 Billion Transactions on the TON Blockchain

TON surpassed a major milestone — 1 billion transactions on the blockchain. Half of this volume was recorded in the last three months.

September 5: Pavel Durov Speaks Out

After four days of interrogations, Pavel Durov commented on the situation, emphasizing that Telegram complies with the law and does not share user data. He also stated that the company will continue operating even if blocked in certain countries.

September 12: Open League Season 6 Launch ($1.2M)

A new season of Open League began with a $1.2 million prize pool in TON. However, user activity declined due to market turbulence and Durov’s arrest.

September 16: USDt-TON Surpasses $1B in Issuance

The total issued supply of USDt on TON reached $1.03 billion, with $720 million in circulation. This marks the fastest stablecoin growth in Tether’s history.

September 22: TON Reaches 10 Million Monthly Active Wallets

A new ecosystem record, marking another step toward mass adoption of Web3 through Telegram.

September 23: Introduction of Mintless Jettons Technology

TON Core introduced a new type of tokens, allowing for instant distribution of tokens to millions of users with minimal fees.

September 26: The Largest Airdrop in Web3 History (Hamster Kombat)

131 million users received Hamster Kombat Tokens on TON, making it the largest TGE in crypto history.

TON proved to be the only blockchain capable of handling events of this scale.

August and September were a true test for the TON ecosystem, but despite the challenges, the platform demonstrated remarkable resilience. Pavel Durov’s arrest, network overload, and other obstacles not only failed to halt the ecosystem’s development but also proved its ability to withstand significant stress. TON continues to move confidently toward its goal — making cryptocurrency accessible to everyone.

October – December 2024: The Final Quarter for the TON Ecosystem

After high volatility in August and September, TON entered a consolidation phase, trading within the $4.5–$7.2 range. Throughout October – December, the market repeatedly tested the $4.5 support level but held above it. By late November, TON recorded a local high of $7.2.

Despite high expectations, TON Foundation did not announce any major updates, yet the ecosystem continued to grow. User activity declined, reminding many of the bearish 2023. In December, TON's price approached the lower bound of the range again, ending the year at around $4.8.

Key Events of the Period:

• TON surpassed 100 million unique accounts.
• Testnet for TON Teleport BTC was launched — a decentralized bridge between Bitcoin and TON.
• TON Memelandia announced a $5M grant program to support Memepads.
• NFT stickers became available on Telegram with marketplace trading.
• STON.fi and DeDust.io were integrated into TradingView — a new level of convenience for traders.

October 4: Announcement of TON Memelandia — Open League for Memecoins

After the success of Open League, the TON ecosystem shifted its focus to memecoins, launching Memelandia — a platform for trading and promoting community tokens. The Memecoin Working Group was established, along with Memelandia GANG, where closed discussions and AMAs take place. TON Memecoin Battles introduced a new competition format for memecoins. A $1.25M prize pool is distributed among teams that demonstrate the best metrics in trading volume, market capitalization growth, and holder activity.

Learn more about Memelandia here.

October 11: TON Reaches 100M Unique Accounts

TON became one of the fastest-growing Layer 1 blockchains, increasing its unique accounts from 4.3M at the start of the year to 100M. This breakthrough was driven by mass onboarding via Telegram Mini Apps, TON Space, and NFT drops.

October 21: Memecoin Season Kicks Off on TON

TON Memelandia launched memecoin challenges with a $1.25M prize pool. Participants could form teams and compete for the title of the top memecoin.

Main categories:

• Cabal Arena — Launch and trading of new memecoins.
• Memecoin Mountain — Competition among existing memecoins based on volume, capitalization, and community activity.

October 31: TON Teleport BTC Announced

At Gateway 2024, the testnet for TON Teleport BTC was introduced — a fully decentralized solution for integrating Bitcoin into the TON ecosystem.

Key features:

• Trustless BTC transfers between TON and its native network.
• Using BTC for DeFi: Trading, farming, and liquidity provisioning.

November 1-2: The Gateway 2024 — The Main Event for TON

Dubai hosted The Gateway 2024, the largest event in the TON ecosystem, bringing together top Web3 players.

Major announcements:

• Launch of Society DAO for decentralized governance.
• TON Space surpassed 100M wallets.
• TON Teleport BTC went live in testnet.
• Memecoin Competitions with a $1.25M prize pool.
• Partnership with VISA to launch custodial cards via Holders.io.

November 15: TON Memelandia Allocates $5M to Support Memepads

TON continued expanding its memecoin infrastructure, allocating $5M in grants for Bonding Curve Memepads.

The first $500,000 grants were awarded to:
✅ GasPump
✅ BigPump (PocketFi)
✅ TONPump (HOT Wallet)

December 21: NFT Stickers in Telegram

The Open Builders team (Notcoin), together with DOGS, introduced Telegram-native NFT Stickers — limited-edition sticker packs. Users can now mint and trade NFT stickers on the marketplace. The first collections include DOGS, Pudgy Penguins, and BAYC.

December 23: STON.fi and DeDust.io Now on TradingView

The TON DEX infrastructure was integrated into TradingView. Now, 90M+ traders can track quotes, liquidity, and analytics for STON.fi and DeDust.io trading pairs. This enhances market transparency and improves the user experience for TON traders.

Conclusion: 2024 — The Year That Transformed TON

2024 was a year of scaling, challenges, and integration for TON. The ecosystem experienced explosive growth, all-time price highs, global partnerships, and crisis moments that tested its resilience.

Key Milestones of the Year:

✅ Mass adoption: TON surpassed 100M accounts, becoming the fastest-growing L1 blockchain.

✅ Integration into Telegram: Telegram Ads, TON Space, NFT stickers, and Mini Apps made blockchain a part of the largest messaging platform.

✅ Open League and Memelandia: New engagement mechanics attracted tens of millions of users, while TON Memelandia laid the foundation for the memecoin market.

✅ DeFi ecosystem: The launch of TON Teleport BTC, USDt integration, and a rapid TVL surge to $700M solidified TON’s position as the financial layer of Web3.

✅ Tests of resilience: The ecosystem endured global economic shocks, Durov’s arrest, and technical disruptions without losing user or investor confidence.

Despite the challenges, TON didn’t just survive — it became stronger. Today, it is a blockchain with real users, a powerful infrastructure, and a long-term vision for growth. 2025 is ahead, and TON has every opportunity to build on its success and reach new heights.

🚀 TON keeps moving forward. This is just the beginning.