- TON’s user growth soared to 5 million daily active users, fueled by Telegram mini-apps.
- TON’s price and user activity are closely linked, with price surges boosting engagement.
- Despite volatility, TON remains a top performer with strong market activity in 2024.
The TON blockchain has become a top performer, with daily active users and market activity growing. The widespread adoption of Telegram mini-apps has fueled its growth, propelling the network to exceed 5 million daily active users by mid-year.
According to data from IntoTheBlock, the TON blockchain has dominated the market in terms of daily active addresses. The network maintained the highest activity levels throughout the second half of 2024, with spikes showing key events.
A surge occurred in early October when daily active addresses hit an all-time high. This surge is likely linked to a major event, like a network upgrade or the release of a new feature, which drove user engagement.
Even with declining activity following this peak, TON’s daily active address count remained higher than other crypto assets. Compared to other networks, no other blockchain matched the activity levels or sustained growth that TON saw in 2024.
The Link Between Toncoin Price and User Engagement
Glassnode data shows that from 2022 to 2024, there was a strong correlation between the price of Toncoin (TON) and user engagement. Significant price increases often coincided with spikes in user activity.
Read also: TON Holders Could Surpass ETH Holders by December 2024
In late 2023, TON’s price jumped from around $1 to over $5, matching a rise in active addresses, which peaked at over 7 million. This price rally likely fueled increased participation on the network, further adding to the growth of TON.
However, following this surge, both user activity and the price of Toncoin declined in early 2024. This drop suggests that the network’s participation is highly sensitive to price movements, with user engagement mirroring the token’s price.
Toncoin’s Current Market Performance
As of the time of writing, Toncoin (TON) was trading at $5.47, recording an increase of 2.00% over the past day. Despite this price increase, trading volume declined by 10.03%. The market capitalization of Toncoin stands at $13.95 billion, with a circulating supply of 2.55 billion TON out of a total supply of 5.1 billion.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
