TON has surpassed Bitcoin and Ethereum in daily active addresses, with USDT trading volumes on the network reaching $1.2 billion.
The Open Network (TON) has continued to record outstanding growth as the protocol recently saw its active addresses outperform leading blockchains in the industry.
According to data from the market intelligence platform IntoTheBlock, the number of daily active TON addresses surged to 3 million in the first week of September.
Per the data, this figure exceeded the number of active addresses recorded on major Layer 1 networks, including Bitcoin and Ethereum. TON’s popularity over the past few months has attracted increasing attention from developers, investors, and users alike, further solidifying its position as a rising contender in the blockchain space.
USDT Trading Volume on TON Surges
In addition to the growing number of active addresses, TON has experienced an increase in on-chain trading volumes, especially in the stablecoins market.
The blockchain is currently among the top networks with the highest USDT trading volumes. According to IntoTheBlock, TON recorded an impressive $1.2 billion USDT trading volume, with 1.5 million unique holders on Sept. 9.
Tron, however, remains the biggest blockchain for USDT trading, with a trading volume of $98.1 billion recorded on Sept. 9. It was followed by Ethereum with $34.3 billion.
According to analysts, the surge in TON’s USDT trading highlights growing interest and adoption among TON users. Earlier in April, Tether, the issuer of USDT, launched the stablecoin on TON.
The Biggest Growth Opportunity
The rapid adoption of popular TON-based decentralized applications (dApps) like Hamster Kombat and Notcoin has contributed significantly to the network’s growth. These tap-to-earn projects have increased user activity on the TON blockchain over the past few months.
Consequently, TON received a $30 million investment from crypto exchange Bitget and Foresight Ventures yesterday to boost the development of tap-to-earn projects.
As the network’s popularity continues to soar, market experts believe that the TON ecosystem is “the biggest growth opportunity” in the crypto market this year.