TON bots up, wallets down. | Source: Alan Harvey/SNS Group via Getty Images.
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Key Takeaways
Blum’s trading bots accounted for 25% of TON’s on-chain volume in April 2025.
TON is down 3.96% in the past 24 hours to $2.98 and has fallen 53.72% year-to-date.
Daily wallet activity on TON has dropped roughly 90% since its December 2024 peak.
Telegram-native blockchain The Open Network (TON) saw a sharp spike in trading activity in April, driven largely by AI-powered trading bots.
However, the surge was short-lived, offering only a brief reprieve for an ecosystem that’s otherwise in steady decline, with daily wallet signups and on-chain activity falling month after month.
According to TON’s April 2025 report, trading bots developed by Blum, a UAE-based firm, accounted for 25% of the network’s on-chain activity last month, generating around $10 million in weekly trading volume.
Still, the surge appears to have been short-lived. Overall trading app usage peaked at over 850,000 interactions on April 9, but has since dropped by more than 75%, according to data from Dune.
TON activity. | Credit: Dune
Telegram-based apps and wallet activity often spike during moments of hype or new product launches. Blum’s bot, launched in February, may have already passed its peak usage window.
This reflects a broader downtrend across the TON ecosystem. As fewer wallets engage with the network, decentralized exchange (DEX) volumes are also taking a hit.
Wallet Activity Slides
TON’s report highlights that between 170,000 and 190,000 daily active wallets were recorded in April, with approximately 10,000 new non-custodial wallets joining daily.
TON Daily Active Wallets | Source: Dune
Per data from Dune, this momentum has carried into May, with daily wallet creation and wallet activity peaking at 58,884 and 206,610, respectively, on May 14, 2025.
But when we zoom out, this brief uptick forms a small bump in an overall decline in TON wallet activity. Per TON Stat, TON daily active wallets figures have declined from their Dec. 11, 2024, high of 1.23 million to 129,142 as of May 18, 2025.
Daily active wallets decline. | Source: TON Stat.
TON wallet activity surged in Q3 and Q4 2024 amid the Hamster Kombat and Catizen airdrop mania. However, almost immediately following this, wallet activity fell off a cliff and never quite recovered.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
