Open network ($t) is a layer 1 blockchain integrated with the messaging platform Telegram, and is a cross-chain non-fungible token ($NFT) market grew by 130.4% in the first quarter of 2025, capturing 35.5% of the market. This data comes from the first quarter report published by blockchain analytics company Messari. $tis growing $NFT Footprint and declining indicators in other areas of the ecosystem.
$NFT Growth amid broader ecosystem contraction
According to Messari’s report, $tcross chain of $NFT The market share occurred during a period when native tokens were popular. $t Spot prices fell by 26.5%. Sales of Telegram-related digital products are settled through Fragment. $tBase’s marketplace for selling collectibles and usernames reached $88.5 million in the quarter. This suggests that Telegram’s user base continues to drive demand for tokenized assets tied to the platform, even as broader crypto market sentiment weighs on the token’s valuation.
However, other key indicators painted a less rosy picture. Total value lock (TVL) $tThe base decentralized finance (DeFi) protocol was down 34.9% quarter over quarter in dollar terms and 11.6% in unit terms. $t. USDT’s average daily transfer volume on the network was $77 million, down 32.5% from the previous quarter. Daily active addresses also decreased by 8.8% to 90,790.
What is the driving force? $NFT Market share growth?
difference between $NFT Activity and DeFi metrics suggest: $t‘s $NFT Market growth is driven by Telegram’s unique ecosystem rather than general cryptocurrency market trends. Telegram integration $t-Base wallet and $NFT This feature allows users to buy, sell, and trade digital collectibles directly within the messaging app. Fragment, which acts as a marketplace for Telegram usernames, virtual phone numbers, and other digital assets, is the central hub for this activity.
Messari’s report shows that cross-chain $NFT Market share calculations include NFTs traded between different blockchain networks. $tThe increase in share reflects growing interoperability and adoption among Telegram’s large user base, which had over 900 million monthly active users as of early 2025.
impact on $t and Telegram users
For Telegram users and $t For investors, the data paints a mixed picture. something strong $NFT The market share shows that the platform’s digital collectibles ecosystem is gaining momentum and has the potential to attract more creators and collectors. However, the decline in DeFi TVL and stablecoin transfer volumes shows that broader financial use of the network is still in development. The decrease in daily active addresses means that user engagement is $NFT trading.
For the broader cryptocurrency industry, $t‘s performance highlights the importance of real-world applications and user bases in driving blockchain adoption. Telegram integration $t It offers distribution benefits that many other Layer 1 networks don’t have, but it must scale beyond that to maintain growth. $NFT Selling to DeFi and other use cases.
conclusion
$t‘s performance in Q1 2025 highlights the complexity of the blockchain ecosystem’s growth. Although the network gained a significantly larger share in cross-chain, $NFT This was accompanied by a decline in token prices, a decline in DeFi activity, and a decline in daily active users. Messerli’s data suggest that: $t‘s $NFT While success is closely tied to Telegram’s platform-specific utility, broader financial metrics still face headwinds. For now, the network’s trajectory depends on its ability to transform. $NFT A commitment to sustainable DeFi adoption and user retention.
FAQ
Q1: What is $t?
Open network ($t) is a layer 1 blockchain originally developed by Telegram and now maintained by an independent community. It is integrated with Telegram’s messaging platform and allows users to send cryptocurrencies, trade NFTs, and access decentralized applications.
Q2: What is cross-chain? $NFT What does market share mean?
cross chain $NFT What is market share? $NFT Transaction activity that occurs between multiple blockchain networks. A high share indicates that the blockchain is being used to trade NFTs originating from or accessible from other chains, reflecting interoperability and adoption.
Q3: Why did it happen? $tWhile the token price of $NFT Has market share increased?
Token prices are influenced by broader market conditions, investor sentiment, and supply and demand dynamics. growth of $NFT Market share is driven by Telegram’s user base and platform-specific utility and may not directly correlate with token price movements in the short term.
