TON is dethroning Ethereum in terms of active addresses

TON is dethroning Ethereum in terms of active addresses


10h00 ▪
5
min of reading ▪ by
Evans S.

An unexpected news has shaken the crypto community: Telegram’s TON (The Open Network) blockchain has surpassed Ethereum in terms of daily active addresses. This phenomenon raises many questions and offers a fascinating insight into the forces at play in this ecosystem.

The rise to power

The rise of TON is impressive. This blockchain, supported by the popular messaging application Telegram, has seen its daily active addresses surpass those of Ethereum throughout the past month.

According to a report from Delphi Digital, this growth is mainly attributed to Telegram’s massive user base, which reaches around 900 million.

The extensive distribution and easy integration of Telegram users into the TON ecosystem have played a crucial role in this rapid increase.

Delphi Digital described this situation as a coup, highlighting that the success of TON might be underestimated by some players in the crypto market.

However, the real question remains whether this rapid growth is sustainable in the long term and whether TON can truly maintain its dominant position against a crypto giant like Ethereum.

While it is tempting to directly compare TON to Ethereum, it is essential to note some important nuances.

For example, on June 11, the three main Ethereum layer 2 solutions (Arbitrum, Base, and Optimism) collectively displayed a total of 1.3 million daily active addresses. These layer 2 solutions play a key role in the Ethereum ecosystem, increasing its transaction processing capacity and reducing fees, in accordance with the roadmap defined by Ethereum co-founder Vitalik Buterin.

The factors behind the growth of TON

Several elements explain the recent increase in network activity for TON. The integration of the stablecoin Tether (USDT) on TON certainly helped attract more users.

Additionally, the launch of Notcoin, a “tap-to-earn” token that allows users to earn rewards by completing various social challenges, was also a significant factor. Since its introduction five months ago, Notcoin has already attracted 35 million users.

Telegram didn’t stop there. On June 6, the platform launched Telegram Stars, an in-app currency for digital purchases. This new feature was well received by the crypto community, with rapid adoption on iOS and Android devices.

Telegram’s mini-apps, like Hamster Kombat, have also gained popularity, attracting millions of daily users. In this simulation game, players can increase their exchange revenue by purchasing “upgrade cards” and completing quests.

Impact on the crypto ecosystem

The surge in activity on TON has significant repercussions for the entire crypto ecosystem. The rise of crypto-related features on Telegram, including exchange bots and mini-apps, has transformed the platform into a central hub for crypto enthusiasts.

For example, Hamster Kombat recently announced that it had become the most popular Telegram channel in terms of users, showing the considerable impact of these innovations. Additionally, Pixelverse, a Web3 gaming ecosystem on Telegram, raised $5.5 million in a funding round, with participation from leading investors in the crypto and Web3 gaming fields, such as Delphi Ventures, Merit Circle, and Mechanism Capital.

The impressive performance of TON against Ethereum raises intriguing questions about the future of cryptocurrencies. While TON continues to grow thanks to Telegram’s enormous user base and constant innovations, Ethereum remains a major player with its layer 2 solutions and solid roadmap.

This situation reflects the dynamic and competitive nature of the crypto universe, where new forces constantly emerge to challenge established quo. In any case, these developments are a vibrant testimony to the continual innovation and resilience of the crypto ecosystem.

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Evans S. avatarEvans S. avatar

Evans S.

Fasciné par le bitcoin depuis 2017, Evariste n’a cessé de se documenter sur le sujet. Si son premier intérêt s’est porté sur le trading, il essaie désormais activement d’appréhender toutes les avancées centrées sur les cryptomonnaies. En tant que rédacteur, il aspire à fournir en permanence un travail de haute qualité qui reflète l’état du secteur dans son ensemble.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.



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