Binance recently listed TON amid growing popularity and opened trading for four spot pairs.
The TON blockchain recorded yet another milestone as the number of active addresses on the project’s Masterchain has surged to an all-time high of 946 daily.
According to CryptoQuant’s latest analysis, this marks a more than sevenfold increase since July 2021, highlighting the growing popularity and adoption of the network.
New Milestone for TON
While 946 active addresses might initially seem modest, it’s crucial to understand that the TON architecture is designed with multiple “workchains” that handle the bulk of data, leaving the Masterchain primarily responsible for message routing and transaction coordination.
This increase in active addresses has several implications, as per the analyst’s findings. Firstly, their growth indicates a surge in network activity, with more users engaging in transactions and utilizing the platform’s capabilities. This heightened engagement, in turn, leads to a greater volume of transactions.
Additionally, the rise in active addresses suggests an expanding network ecosystem, with an increase in the number of decentralized applications (dApps) and workchains contributing to the blockchain’s functionality.
Economically, this surge in network usage is likely to drive up the demand for TON tokens as increased activity and expansion of the ecosystem enhance the asset’s utility and value within the blockchain.
Developments in TON Ecosystem
TON blockchain’s performance in 2024 has been strong so far. The ecosystem has attracted considerable attention from venture capitalists lately, largely owing to its connection with the Telegram messaging service. In February this year, Telegram launched a revenue-sharing program that splits ad income 50/50 with channel operators, with payouts made in TON and handled via the network.
Stablecoin issuer Tether followed in April by launching its USDT stablecoin on the TON network, enabling users to access the prominent dollar-pegged stablecoin. Additionally, the introduction of popular mini-games such as Notcoin, Hamster Kombat, Yescoin, and Catizen contributed significantly to the network’s growth.
More recently, crypto exchange Binance announced the listing of TON with TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY as new spot trading pairs.