TON Blockchain Sees Record 46 Million Transactions Amid DOGS Airdrop Frenzy

The TON blockchain processed over 46 million transactions last week, a significant surge fueled by the excitement surrounding the DOGS airdrop, according to the latest data shared by IntoTheBlock.

This impressive activity highlighted the growing interest and engagement within the TON ecosystem, as users scrambled to participate in the airdrop, driving up transaction volumes to record levels.

The latest development comes just days after the TON network suffered two outages which lasted for over 12 hours in total.  As reported earlier, the issue was due to an unusual surge in transactions linked to the meme coin’s airdrop which has captured significant interest. The subsequent network overload caused validators to lose consensus.

For the uninitiated, DOGS was inspired by Telegram founder Pavel Durov’s pet dog Spotty and was released to the market. During this campaign, 440 billion tokens, from a total of 550 billion, were distributed.

DOGS was listed on several top crypto exchanges, including Binance, Bybit, OKX, Bitget, and Gate. Despite this, it has lost more than 10% of its value in the past 24 hours and is currently trading at $0.0011.

Interestingly, DOGS’ exchange listings came immediately after Durov’s arrest in Paris last week. A Paris court on Wednesday charged Durov with aiding in the spread of child sexual abuse images, among several other alleged offenses on Telegram.

While the 39-year-old tech exec has avoided jail time by posting a €5 million ($5.5 million) bail, he has been compelled to relinquish his three passports – French, Saint Kitts and Nevis, and Russian.

Following mounting criticisms by free-speech advocates, French President Emmanuel Macron clarified having no knowledge of Durov’s travel to France and added that his arrest was an “independent decision” made by the country’s judicial system.