The TON blockchain has recently surpassed Ethereum in several vital metrics, drawing significant attention from the cryptocurrency community. Over the first two weeks of June, TON consistently outperformed Ethereum almost daily in various categories. Notably, TON’s price surged by 4.44% in the past 24 hours, reaching $7.9, and its market cap now exceeds $19 billion, securing its position as the 9th largest by volume. This price increase has piqued interest in the factors driving TON’s ascent.
How TON and Ethereum Stack Up?
A key metric in this competition is the number of daily active addresses. Data from Artemis highlights the number of unique wallets transacting on the blockchain. Since May 17, TON has shown comparable values to Ethereum, achieving notable success in surpassing Ethereum on 10 out of the first 11 days of June.
On June 3, TON reached a significant milestone with 568,300 active addresses, a figure Ethereum had not seen since September 13, 2023. It’s essential to consider that Ethereum’s Layer-2 solutions handle a large share of its transactions. For instance, on June 11, the daily active addresses for Ethereum’s top 3 Layer-2 solutions—Arbitrum (ARB), Base, and Optimism (OP)—totaled 1.3 million.
What Drives TON’s Surge?
Multiple factors seem to contribute to the recent uptick in the TON ecosystem. The robust support from Telegram and the increased awareness through mini applications have played significant roles. One notable example is Notcoin, which has drawn millions of users and distributed rewards, thereby benefiting the TON ecosystem.
Notcoin, after its gaming phase, entered the market in May and quickly captured attention with its reward system. It currently holds the 49th position with a market value of $1.9 billion. Such applications have considerably influenced the rise in TON’s interest and market value.
Key Takeaways for Users
- TON has surpassed Ethereum in active daily addresses for most of June.
- The rise in TON’s market value is linked to significant community engagement and application use.
- Support from major platforms like Telegram has been a driving force behind TON’s growth.
- Applications such as Notcoin have significantly bolstered TON’s ecosystem and market presence.
In conclusion, TON’s impressive performance against Ethereum in key metrics highlights its growing influence and the factors contributing to its success. The ongoing competition between these blockchain giants will be closely watched by the cryptocurrency community.