TON surpasses Ethereum in daily active users What lies ahead for Web3
The innovative Open Network (TON), originally created to enhance the messaging app Telegram, has surpassed Ethereum in daily active addresses for the month of June.
Despite regulatory challenges forcing Telegram to take a step back, a dedicated community has been instrumental in driving TON’s growth by tapping into Telegram’s massive user base and integrated crypto wallet features. Delphi Digital recently highlighted TON’s remarkable growth on X (formerly Twitter), noting that TON’s daily active addresses have exceeded those of Ethereum.
The surge in TON’s activity has been attributed to a thriving ecosystem of mini-applications, such as chatbots and games. Notcoin, a popular game on Telegram with over 35 million users, introduced its cryptocurrency NOT in May, achieving a market cap of $2.1 billion. Other games like Hamster Kombat and Catizen have also garnered millions of users, contributing to TON’s growing success.
Additionally, TON-native trading bots like sTONks and the introduction of Telegram Stars for in-app purchases have further enriched user engagement. The Total Value Locked (TVL) in TON has seen a significant increase from $22.9 million to over $500 million in just three months, indicating a promising future for the network.
Crypto influencer Crypto King has endorsed Toncoin for its fast and user-friendly blockchain infrastructure, predicting a potential price spike that could see Toncoin reach $10 in the near future. Technical analysis by crypto analyst Ali Martinez also suggests a possible 40% breakout for Toncoin, with a target price of $11.
The success of TON reflects the broader trends in the crypto market, showcasing how platforms that effectively integrate blockchain technology with existing user bases can experience rapid growth. While Ethereum remains a key player with its layer 2 solutions, TON’s achievements underscore the dynamic and competitive nature of the crypto industry.
