TON Blockchain sees a 7x increase in active addresses since July 2021

The TON blockchain registered another milestone as the number of active addresses on the project’s Masterchain has increased to an all-time high of 946 daily.

According to CryptoQuant’s latest analysis, this represents a more than seven-fold increase since July 2021, highlighting the growing popularity and adoption of the network.

New milestone for TON

Although 946 active addresses may initially seem modest, it is crucial to understand that the TON architecture is designed with multiple “worker chains” handling the bulk of the data, leaving the Masterchain primarily responsible for message routing and coordination of transactions.

This increase in active addresses has several implications, according to the analyst’s findings. First, its growth indicates an increase in network activity, with more users engaging in transactions and using the platform’s capabilities. This greater commitment, in turn, leads to a greater volume of transactions.

Additionally, the increase in active addresses suggests an expanding network ecosystem, with an increase in the number of decentralized applications (dApps) and worker chains contributing to blockchain functionality.

Economically, this increase in network usage is likely to increase demand for TON tokens, as increased activity and ecosystem expansion improve the utility and value of the asset within the block chain.

Evolution of the TON ecosystem

The performance of TON blockchain in 2024 has been strong so far. The ecosystem has attracted considerable attention from venture capitalists of late, largely due to its connection to the Telegram messaging service. In February of this year, Telegram launched a revenue sharing program that splits advertising revenue 50/50 with channel operators, with payments made in TONs and managed across the network.

Stablecoin issuer Tether followed up in April by launching its USDT stablecoin on the TON network, allowing users to access the prominent dollar-pegged stablecoin. In addition, the introduction of popular mini-games such as Notcoin, Hamster Kombat, Yescoin and Catizen contributed significantly to the growth of the network.

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.

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