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BTC $62,535.17 -2.13%
ETH $1,675.48 -1.13%
BNB $597.25 -0.79%
XRP $1.14 -0.12%
SOL $66.22 -1.04%
TRX $0.3227 -1.23%
DOGE $0.0858 -0.89%
ADA $0.1689 +0.81%
BCH $206.20 -0.58%
LINK $7.93 -0.82%
HYPE $62.09 -1.02%
AAVE $62.53 -2.98%
SUI $0.7576 -0.86%
XLM $0.1991 -1.87%
ZEC $471.99 +10.00%

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Messari: TON's revenue from Telegram products in the first quarter reached 88.5 million USD, with cross-chain NFT market share rising to 35.5%

Messari released the "TON Q1 2026 Report," which shows that despite a 26.4% drop in the price of TON during the quarter, the overall TON ecosystem remains resilient, supported by Telegram's large user base. Among them, revenue from Telegram products settled through Fragment decreased by 20.3% quarter-on-quarter to $88.5 million, while recurring revenues such as Premium subscriptions and advertising only fell by 10.5%, performing better than non-recurring businesses like Stars.Data shows that driven by the demand for on-chain products such as Telegram usernames, numbers, and Gifts, the market share of TON NFTs in the cross-chain market increased by 130.4% quarter-on-quarter, reaching 35.5%. In terms of DeFi, the total value locked (TVL) in USD terms decreased by 34.9% quarter-on-quarter, but in TON terms, it only fell by 11.6%. The average daily transfer amount of USDT dropped by 32.5% to $7.7 million, although the average daily number of transfers remained around 73,600, indicating that peer-to-peer Telegram transfers and Mini App payments are replacing large DeFi transactions.In terms of user activity, the number of daily active addresses on TON decreased by 8.8% quarter-on-quarter to 90,800, indicating no significant new user growth in the first quarter. However, the number of transactions per address increased from 19.2 to 21, reflecting enhanced engagement among existing users.After the end of the first quarter, the "Make TON Great Again (MTONGA)" initiative launched by TON has completed four out of seven measures, including the launch of Catchain 2 for sub-second finality, reducing transaction fees by about six times, and making Telegram the largest validator of TON, with a current staking size of 2.2 million TON. Messari states that the second quarter will be a key observation period to test whether infrastructure upgrades can drive a large-scale conversion of Telegram's broader user base into active users on the TON chain.

Ripple plans to initiate a $1 billion XRP treasury program

According to CoinDesk, Ripple is leading a financing plan of at least $1 billion, intending to establish a publicly traded treasury company focused on holding XRP through a special purpose acquisition company (SPAC).The report states that this entity will use the raised funds to continuously increase its holdings of XRP, and Ripple is also expected to inject some of its own XRP holdings into the treasury. The terms of the related transaction are still under discussion, and the final plan may be adjusted.If successfully implemented, this will become the largest known XRP treasury plan to date. Market analysts believe that this move will test institutional investors' acceptance of the XRP treasury model and whether the digital asset treasury company model can expand from Bitcoin to other mainstream crypto assets.Currently, the market capitalization of XRP is approximately $138 billion, making it one of the top-ranking crypto assets globally. Since the beginning of this year, XRP has seen a cumulative increase of about 13%.It is worth noting that as the crypto market has recently experienced increased volatility, the stock prices of some digital asset treasury companies have come under pressure, and the market has begun to pay attention to whether similar models are facing demand saturation. However, if this plan is ultimately implemented, it may bring a new source of institutional buying for XRP and further strengthen its narrative in the capital markets.
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