噸生態系統遭受重大挫折：用戶參與下降了95％，TVL下降72％

在過去一周中，噸生態系統遭受了損失，用戶參與度大幅下降和銷售壓力增加。自網絡七月的歷史最高點以來，新用戶的數量已下降了95％。

The Open Network (TON), a blockchain infrastructure spearheaded by Telegram, has encountered a period of decline in user engagement and escalating selling pressure, according to on-chain data.

根據鍊鍊數據，開放網絡（TON）是由電報率領的區塊鏈基礎架構遇到了一段時間的用戶參與度和銷售壓力升級時期。

These metrics indicate a waning investor confidence and raise questions regarding the ecosystem's long-term appeal.

這些指標表明投資者的信心減弱，並提出了有關生態系統長期吸引力的問題。

On-chain data reveals that TON experienced a peak in Total Value Locked (TVL) in mid-July, reaching $773 million. However, since then, its value has been steadily declining. As of today, the ecosystem's TVL stands at $215 million, indicating a drop of over 72% from its all-time high.

鏈上的數據表明，噸在7.73億美元中經歷了總價值鎖定的高峰（TVL）。但是，從那時起，其價值一直在穩步下降。截至今天，生態系統的TVL為2.15億美元，表明其歷史最高水平下降了72％以上。

This decline is also evident in the drastic decrease in new daily users. Based on Dune data, TON attained an all-time high of 724,465 on September 30. However, as of February 5, that number has sharply declined to 33,852.

新日常用戶的急劇下降也很明顯。根據沙丘數據，Ton在9月30日達到了724,465的歷史最高水平。但是，截至2月5日，該數字已大幅下降到33,852。

This over 95% decrease raises concerns about the blockchain's current and future attractiveness.

超過95％的人減少了對區塊鏈當前和未來的吸引力的擔憂。

Investors in TON projects have expressed their dissatisfaction on social media platforms, highlighting financial losses.

TON項目的投資者對社交媒體平台表示不滿，突出了財務損失。

“Never in my life did I ever think I would see Notcoin at $0.0033 and Toncoin at $4.2,” stated one user on X.

X上的一位用戶說：“我一生中從來沒有想到我會以0.0033美元的價格看到Notcoin，噸幣的價格為4.2美元。”

Furthermore, data indicates that the majority of TON token holders, approximately 96% (over 108 million addresses), are currently experiencing investment losses. In contrast, only a small fraction (4% or a little over 4.2 million addresses) are experiencing profits. This data suggests a prevailing negative sentiment among TON investors, which may contribute to increased token-selling activity.

此外，數據表明，大多數噸代幣持有人（約96％（超過1.08億個地址））目前正在遭受投資損失。相比之下，只有一小部分（4％或420萬個地址）的利潤。該數據表明，噸投資者的普遍負面情緒可能有助於增加令牌銷售活動。

A Brief Overview of TON's Journey

簡要概述了噸的旅程

TON, a blockchain infrastructure that began as a Telegram project, has utilized tap-to-earn and other GameFi apps to drive adoption and engagement. Less than two weeks ago, the TON core team unveiled its development roadmap for the first half of 2025. This roadmap outlines planned updates to core functions and potential future revenue streams.

Ton是一個始於電報項目的區塊鏈基礎架構，它利用Tap-to-earn和其他Gamefi應用程序來推動採用和參與度。不到兩週前，TON CORE團隊在2025年上半年公佈了其開發路線圖。該路線圖概述了核心功能和潛在的未來收入流的計劃更新。

TON's expansion strategy comes as a response to its falling revenue, largely attributed to the declining popularity and profitability of tap-to-earn games and other GameFi apps that were once a major revenue stream for the company.

TON的擴展策略是對收入下降的回應，這主要歸因於Tap-to-earn Games和其他GameFI應用程序的普及和盈利能力的下降，而GameFI應用程序曾經是該公司的主要收入來源。

While Telegram severed ties with TON in 2020 due to regulatory pressures, the network recently re-partnered with the messaging app under Trump’s new regulatory approach.

儘管由於監管壓力，電報在2020年與TON的關係切斷了聯繫，但該網絡最近在特朗普的新監管方法下重新使用了消息傳遞應用程序。

This decision sparked varying reactions among TON's users, with some questioning Telegram's commitment to decentralized principles and others expressing concerns about the potential impact on liquidity and market stability.

這一決定引發了噸用戶的不同反應，一些質疑電報對分散原則的承諾以及其他對潛在對流動性和市場穩定性的影響的擔憂。

The success of TON's newly announced roadmap in the long term remains to be seen, as current on-chain data suggests potential challenges in the near future.

從長遠來看，噸新宣布的路線圖的成功尚待觀察，因為當前的鏈上數據表明，在不久的將來可能挑戰。