"TON's TVL Plummets 72%: Investors Face Bleak Circumstances"

The Open Network (TON) is facing significant challenges, with its Total Value Locked (TVL) plummeting and user engagement reaching historical lows. Recent data reveals that TON's TVL has shrunk to just $215 million, reflecting a staggering decline of over 72% from its all-time high of $773 million in mid-July. This descent signals not only a loss of investor capital but also a concerning shift in the platform's attractiveness to new users.

This decline is mirrored by a catastrophic reduction in daily new users. Data shows that the peak user count had soared to 724,465 by September 30, but by February 5, that figure had diminished to merely 33,852, a sharp decrease of over 95%. This raises critical questions regarding the ongoing appeal of the TON blockchain to prospective users and investors.

The impact of these declines extends beyond numbers, as many TON investors are now facing considerable financial losses. Recent sentiment analysis indicates that approximately 96% of token holders are currently in the red, with dissatisfaction echoing across social media platforms. One investor expressed their dismay, stating, "Never in my life did I ever think I would see Notcoin at $0.0033 and Toncoin at $4.2." Such sentiments underscore the growing frustration among investors.

The Open Network, initially built on Telegram's infrastructure, has relied heavily on tap-to-earn and GameFi applications to attract users. However, with the recent declines in engagement, the TON core team has taken steps to reassess its strategies. Less than two weeks ago, a development roadmap for the first half of 2025 was released, highlighting planned features aimed at improving core functionalities and potentially diversifying revenue streams.

This expansion strategy is a direct response to declining profitability stemming from waning interest in previous revenue avenues, such as tap-to-earn games. Despite having severed ties with Telegram in 2020 due to regulatory issues, a recent partnership revival has sparked debate among users regarding the platform's commitment to decentralization.

The current landscape for The Open Network reflects a critical juncture, with substantial drops in both TVL and user engagement signaling deep-seated challenges. Investors face bleak circumstances, with most holders currently sitting on losses. As TON prepares to navigate this tumult