In the world of cryptocurrencies, the Open Network (TON) blockchain, backed by Telegram, has gained popularity. When it comes to every day dynamic addresses (DAA), TON has outperformed Ethereum; in the final 11 days, this has happened 10 times. While it is important to remember that Ethereum’s Layer 2 solutions are not included in this comparison, this is still a huge milestone.
Delphi Digital wrote on X on June 10 that “TON’s quiet growth, fueled by Telegram’s 900M user base, has driven its daily active addresses above Ethereum,” referring to it as “The Flippening CT ignores.”
Source: Delphi Digital
Since May 17, TON had more every day dynamic addresses than Ethereum. Artemis data reveals that TON and Ethereum have been in intense competition since then. June saw TON maintain its progress, reaching a record 568,300 DAAs on June 3. For comparison, Ethereum has not seen such high levels since September 13, 2023.
Source: Artemis
Still, one portion of the picture is absent. Most of the ecosystem’s user activity is on Layer 2 scaling solutions as a result of Ethereum transactions being pushed to L2, which can make the comparison unfair.
For instance, on June 11, three of the leading Ethereum layer 2s, Arbitrum, Base, and Optimism, had a total of 1.3 million daily active transactions.
What are the factors driving TON’s growth?
The current surge in network activity on TON has been caused by a number of factors. The launch of the “tap-to-earn” token Notcoin and the integration of the Tether (USDT) stablecoin on TON by Telegram have both been significant developments.
On June 6, Telegram also unveiled Telegram Stars, an in-app currency for online transactions. Additionally, the use of TON on Telegram has increased due to the growing popularity of trading bots.
How high will TON rise in June?
It is difficult to accurately predict Ton’s movement. If the current growth pattern continues, TON’s price could reach around $10 by the end of June.
Is it wise to buy TON now?
Given TON’s remarkable growth, it’s worth considering an investment. Telegram’s solid support also makes it an attractive option. Future gains are highly likely based on the steady increase in daily active addresses and the growing utility of the TON ecosystem.
TON: Where to buy it?
For those looking to buy TON, Bitget is a suggested platform. Bitget has a user-friendly UI. It also has strong security precautions, making it a reliable option for purchasing and exchanging TON.
