{"id":31183,"date":"2024-10-19T10:15:45","date_gmt":"2024-10-19T07:15:45","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=31183"},"modified":"2024-10-19T09:08:07","modified_gmt":"2024-10-19T06:08:07","slug":"ton-could-help-defi-go-mainstream-report","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/ton-could-help-defi-go-mainstream-report\/","title":{"rendered":"TON Could Help DeFi Go Mainstream: Report"},"content":{"rendered":"<p>Despite the Decentralized Finance (DeFi) sector lagging behind other crypto spaces, The Open Network blockchain is predicted to play a key role in mainstream adoption of decentralized technologies and cryptocurrencies.<\/p>\n<p>The viral success of the <strong>TON<\/strong> blockchain is largely due to its connection with the Telegram messaging app. More than 950 million Telegram users can access TON-based blockchain applications directly through the messaging app. This dynamic presents a huge opportunity for DeFi to reach a wide audience.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/ton-could-help-defi-go-mainstream-report\/#The_Potential_of_TON_and_Telegram\" title=\"The Potential of TON and Telegram\">The Potential of TON and Telegram<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/ton-could-help-defi-go-mainstream-report\/#DeFi_Sector_Going_Through_Tough_Times\" title=\"DeFi Sector Going Through Tough Times\">DeFi Sector Going Through Tough Times<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/ton-could-help-defi-go-mainstream-report\/#TON_Surpasses_Ethereum_and_L2\" title=\"TON Surpasses Ethereum and L2\">TON Surpasses Ethereum and L2<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"The_Potential_of_TON_and_Telegram\"><\/span>The Potential of TON and Telegram<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to the GSR report published on October 17, the The\u00a0 Open Network+Telegram ecosystem has the potential to enable DeFi adoption not only in the gaming and social segments, but also by non-crypto audiences. The report stated:<\/p>\n<p>\u201cWhile the attention around The Open Network has generally focused on gaming and social applications, we believe the TON+Telegram ecosystem presents a huge opportunity for DeFi that needs to expand beyond crypto-specific audiences.\u201d<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-31185 size-full\" src=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/ton.webp\" alt=\"\" width=\"988\" height=\"646\" srcset=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/ton.webp 988w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/ton-300x196.webp 300w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/ton-768x502.webp 768w\" sizes=\"auto, (max-width: 988px) 100vw, 988px\" \/><\/p>\n<p>This forecast is considered a promising sign for the DeFi sector at a time when the DeFi sector has been underperforming compared to memecoins and smart contract platform-based tokens.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"DeFi_Sector_Going_Through_Tough_Times\"><\/span>DeFi Sector Going Through Tough Times<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>According to Artemis data, between January 2022 and September 2023, tokens connected to DeFi protocols fell by 72%, while memecoins lost 35% and smart contract-based tokens lost 48%. This weak performance of DeFi raises expectations that new technologies like TON could revitalize the sector.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-31184 size-full\" src=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/ton1.webp\" alt=\"\" width=\"1031\" height=\"596\" srcset=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/ton1.webp 1031w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/ton1-300x173.webp 300w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/ton1-1024x592.webp 1024w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/10\/ton1-768x444.webp 768w\" sizes=\"auto, (max-width: 1031px) 100vw, 1031px\" \/><\/p>\n<h3><span class=\"ez-toc-section\" id=\"TON_Surpasses_Ethereum_and_L2\"><\/span>TON Surpasses Ethereum and L2<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Thanks to its increasing adoption rate, TON has surpassed many popular blockchains in terms of active addresses. According to the report, the number of monthly active addresses on the network increased from 100,000 in September 2023 to 9.9 million in September 2024 after Telegram introduced its integrated wallet.<\/p>\n<p><em>Might interest you: <a href=\"https:\/\/coinengineer.net\/blog\/what-is-babydoge\/\">What is BabyDoge?<\/a><\/em><\/p>\n<p>This increase put TON ahead of Ethereum with 5.5 million active addresses in September 2024. It also ranked ahead of Ethereum layer-2 (L2) networks such as Arbitrum, OP Mainnet, and Polygon PoS. However, the report also noted that Coinbase\u2019s Base blockchain and Solana still have more active users than TON.<\/p>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"nofollow noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" rel=\"nofollow\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite the Decentralized Finance (DeFi) sector lagging behind other crypto spaces, The Open Network blockchain is predicted to play a key role in mainstream adoption of decentralized technologies and cryptocurrencies. The viral success of the TON blockchain is largely due to its connection with the Telegram messaging app. More than 950 million Telegram users can<\/p>\n","protected":false},"author":6,"featured_media":28000,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[405,397,9044,5980,8198],"class_list":["post-31183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-telegram","tag-ton","tag-ton-layer-2","tag-ton-network","tag-ton-telegram"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TON Could Help DeFi Go Mainstream: Report - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/ton-could-help-defi-go-mainstream-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TON Could Help DeFi Go Mainstream: Report - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Despite the Decentralized Finance (DeFi) sector lagging behind other crypto spaces, The Open Network blockchain is predicted to play a key role in mainstream adoption of decentralized technologies and cryptocurrencies. 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