TON daily active addresses surpass major L1 blockchains like Bitcoin and Ethereum

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

According x.com/intotheblock/status/1836439423182901440?t=tKEEcuWj1u_sRQjcgYlg3w&s=19″ data-wpel-link=”external” target=”_blank”>data According to 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 figure surpassed the number of active addresses registered on major Layer 1 networks, including bitcoin and ethereum. TON’s popularity over the past few months has increasingly attracted the attention of developers, investors, and users alike, further solidifying its position as a rising contender in the blockchain space.

USDT trading volume on TON increases

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

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

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

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

The biggest opportunity for growth

The rapid adoption of popular TON-based decentralized applications (dApps) such as Hamster Kombat and Notcoin has significantly contributed to the network’s growth. These tap-to-earn projects have increased user activity on the TON blockchain in recent months.

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

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

<!– ai CONTENT END 1 –>