TON's Q1 cross-chain NFT market share increased by 130.4% quarter-over-quarter

Odaily reports that a report released by Messari shows that the TON ecosystem exhibited a clear divergence trend in the first quarter of 2026. Its cross-chain NFT market share increased by 130.4% quarter-over-quarter, reaching 35.5%. Relying on Fragment settlements, revenue from Telegram-related products reached $88.5 million. However, multiple ecosystem metrics declined, with TON's total value locked (TVL) in USD dropping by 34.9% quarter-over-quarter, average daily active addresses decreasing by 8.8%, and average daily USDT transfer volume falling to $77 million, a decline of 32.5% quarter-over-quarter. Additionally, after the end of the first quarter, TON has already implemented 4 of the 7 initiatives under the MTONGA upgrade plan.