Toncoin Surpasses Ethereum in Daily Active Addresses and Transactions

Toncoin’s Rise: Surpassing Ethereum

The rise of Toncoin (TON) has drawn significant attention in the crypto world. Since the beginning of this month, it has surpassed Ethereum in the number of daily active addresses. This increase has created a strong positive sentiment around TON and has been effective since early June. This unprecedented growth of Toncoin is being referred to by many as the “flippening,” and it is largely supported by Telegram’s extensive user base.

Increase in Daily Active Addresses

Toncoin has opened up more discussions about its potential by surpassing Ethereum in daily active addresses. Recent on-chain data shows that Toncoin consistently surpasses Ethereum in daily unique addresses. On June 3, Toncoin reached its highest number of daily unique addresses since the beginning of the year, with 568,300 addresses, surpassing Ethereum’s 351,400 addresses by 62%. This rapid increase highlights the changing landscape in the crypto sector.

Significant Increase in Daily Transactions

Toncoin’s daily transaction volume has also surpassed Ethereum since mid-March. Specifically, on May 17, Toncoin’s daily transactions reached 9 million, significantly exceeding Ethereum’s 1.1 million transactions on the same day. This acceleration in user activity is largely attributed to Telegram’s extensive user base of 900 million, according to Delphi Digital.

Positive Price Movement and Increased Trading Volume of TON

Currently, TON is trading at $7.65, recovering from the two-month low of $6.76 it fell to on June 11. In the last 24 hours, the token’s trading volume has increased by over 100%, reaching a total of $491 million, as reported by CoinMarketCap. This price recovery has brought profits to many TON holders, and the token’s value has increased by 9%.

Profitability and Market Sentiment

The profitability ratio of TON transactions is currently at 14.22, the highest level since February, indicating that many investors are seeing positive returns. Social metrics from Santiment show a positive weighted sentiment of 0.75, indicating that the crypto community has an optimistic view of TON.

Conclusion

Toncoin’s recent performance demonstrates its ability to attract significant user interest and transaction volumes, challenging Ethereum’s dominance. Positive sentiment and profitability metrics highlight a potential shift in the crypto market landscape, largely driven by Telegram’s wide reach. As Toncoin continues to grow, it will be important to monitor whether this trend is sustainable and what implications it may have for the broader market.