TON daily active addresses surpass leading L1 blockchains like Bitcoin, Ethereum

The Open Network (TON) has continued to experience exceptional growth, as the protocol recently saw its active addresses surpass industry-leading blockchains.

According to data from the market intelligence platform IntoTheBlock, the number of daily active TON addresses increased to 3 million in the first week of September.

According to the data, this number exceeded the number of active addresses registered 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 cementing its position as a rising contender in the blockchain space.

USDT trade volume on TON rises

In addition to the growing number of active addresses, TON has seen an increase in trading volumes on the chain, especially in the stablecoin market.

The blockchain is currently among the top networks with the highest USDT trading volumes. According to IntoTheBlock, TON recorded an impressive trading volume of $1.2 billion USDT, with 1.5 million unique holders as of September 9.

Tron, however, remains the largest blockchain for USDT trading, with a trading volume of $98.1 billion recorded on September 9. It was followed by Ethereum with $34.3 billion.

According to analysts, the increase in TON USDT trading highlights the growing interest and adoption among TON users. In early April, Tether, the issuer of USDT, launched the TON stablecoin.

The greatest opportunity for growth

The rapid adoption of popular TON-based decentralized applications (dApps) such as Hamster Kombat and Notcoin has contributed significantly to the growth of the network. These mining-for-profit projects have increased user activity on the TON blockchain over the past few months.

Consequently, TON yesterday received a $30 million investment from cryptocurrency exchange Bitget and Foresight Ventures to boost the development of profit-making projects.

As the network’s popularity continues to rise, market experts believe the TON ecosystem is the “biggest growth opportunity” in the crypto market this year.

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