Market Data 
- The TON network is experiencing a significant downturn, with its TVL plummeting by more than 72%, while 96% of Toncoin holders are currently facing losses.
- TON Core recently released its 2025 Roadmap, detailing a series of upgrades aimed at enhancing validator efficiency, API functionality, and user experience.
The Open Network (TON), once seen as a promising blockchain ecosystem, is facing a significant downturn in user activity, investor sentiment, and market confidence. Recent data from DefiLlama, a leading DeFi TVL aggregator, reveals a significant decline in the network’s Total Value Locked (TVL). After reaching an all-time high of $773 million in mid-July 2024, TON’s TVL has now dropped to $215 million, marking a sharp 72% decrease from its peak.
The decline in TVL is mirrored by a concerning drop in daily active users. TON reached an all-time high of 724,465 new daily users on September 30, 2024. However, by February 5, 2025, that number plummeted to just 33,852, marking a staggering 95% decrease in just a few months, according to Dune Analytics. This sharp decline suggests that fewer users are engaging with TON’s applications, transactions, or staking mechanisms, which presents a significant challenge to the network’s adoption and long-term sustainability.
The negative market trend has directly impacted TON token holders, many of whom are experiencing significant losses. Data shows that 96% of TON investors, representing over 108 million addresses, are currently in the red, while only 4.2 million addresses (4%) are in profit. This imbalance has led to growing frustration among investors, with many taking to social media to express their dissatisfaction. At the same time, Toncoin has continued to struggle in the market. It lost 29% over the past month and 23% in the past week to now trade at $3.71, which is 55.05% below its all-time high of $8.25.
TON 2025 Vision: Key Developments
TON Core released its 2025 H1 Roadmap, detailing a series of major upgrades aimed at enhancing its network’s performance. One of the most significant updates is the Accelerator upgrade, designed to optimize shardchain tracking, separate validator functions, and improve overall blockchain efficiency.
This upgrade introduces shardchain tracking optimization, allowing nodes to track only the masterchain and specific shardchains, reducing resource consumption and enhancing network performance. Additionally, the separation of validator functions into collators, which generate block candidates, and validators, which approve blocks, enables parallel processing, improving efficiency.
TON Core is introducing new tools to enhance validator efficiency and security. The MyTonCtrl’s restore-from-backup feature will enable quick server migration during failures, while a web dashboard will offer real-time validator insights. Additionally, an upgraded TON Proxy is in development to protect against DDoS attacks, with implementation expected to take over six months.
Future enhancements will introduce a Pending API, allowing users to view pending transactions, and an Emulation API, enabling developers to simulate transactions before executing them on the blockchain. While similar features exist in other APIs, TON Core aims to provide an alternative solution that enhances developer flexibility and supports ecosystem growth.
The concept of Optimistic UX will also be introduced, allowing interfaces to immediately confirm the success of transactions before full execution. This means token transfers and DEX exchanges can provide near-instant feedback, enhancing user confidence and interaction speed. To ensure consistency, transaction data will be synchronized across DEXs, wallets, explorers, and other services.
