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TON Sees Mass Exodus—User Activity Falls 95%, TVL Down 72%

The Open Network (TON), a blockchain ecosystem, is currently facing a significant downturn in user activity and investor sentiment. According to recent data from DeFi trackers, the platform’s Total Value Locked (TVL) has plummeted by a staggering 72% since reaching an all-time high of $773 million in mid-July 2024.

As a result, the network has seen a massive exodus of users, with daily active users dropping by a whopping 95%. The decline in TVL is mirrored by a concerning drop in user engagement. This sharp decline in activity suggests that fewer users are utilizing TON’s services, leading to a significant loss of value.

The drastic fall in user activity and TVL could be attributed to various factors such as market volatility, lack of transparency, or poor communication from the development team. Whatever the reason may be, it is evident that the TON community has lost confidence in the platform.

However, it’s crucial for investors and enthusiasts alike to separate facts from emotions during these turbulent times. It would be premature to write off the project entirely based on recent trends.

Source: http://www.crypto-news-flash.com