One of the best performers in the cryptocurrency space this year has been a project linked to Telegram Messenger LLP, a competitor to WhatsApp whose blockchain plans have previously drawn the ire of U.S. regulators. Although Bitcoin has reached new heights before the recent sell-off, the industry is still on a broad upswing, with the Open Network (TON) blockchain still taking center stage in the cryptocurrency space. By partnering with Telegram, TON has gained the favor of 900 million monthly active users, and the value of assets locked on TON has soared 1,400% this year, exceeding $1 billion at one point. According to data tracked by DeFiLlama and CoinGecko, TON's market cap has roughly tripled since January and is now in the top 10 by market cap.