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TON blockchain active addresses increase 7x since July 2021

TON blockchain active addresses increase 7x since July 2021

GrafaGrafa2024/08/22 06:00
By:Liezl Gambe

On August 21, 2024, the TON (CRYPTO:TON) blockchain achieved a notable milestone as the number of active addresses on its Masterchain reached a record high of 946 daily.

This represents a remarkable sevenfold increase since July 2021, reflecting the growing popularity and adoption of the TON network.

Although 946 active addresses may appear modest at first glance, it's important to note that the TON blockchain operates with multiple “workchains.”

These workchains manage most of the data, while the Masterchain primarily handles message routing and transaction coordination.

The surge in active addresses indicates a substantial rise in network activity.

More users are engaging with the platform, which is leading to an increased volume of transactions.

This growth also suggests an expanding network ecosystem, with a higher number of decentralized applications (dApps) and workchains enhancing the blockchain’s functionality.

Economically, the increased network usage is expected to drive up the demand for TON tokens.

As activity and ecosystem expansion grow, so does the asset’s utility and value within the blockchain.

In 2024, the TON ecosystem has demonstrated strong performance.

The blockchain has garnered significant attention from venture capitalists, partly due to its association with Telegram.

In February 2024, Telegram launched a revenue-sharing program, distributing ad income in TON tokens through the network.

Following this, stablecoin issuer Tether introduced its USDT stablecoin on the TON network in April.

This addition allowed users to access the popular dollar-pegged stablecoin.

Furthermore, the launch of popular mini-games like Notcoin, Hamster Kombat, Yescoin, and Catizen has contributed to the network's growth.

Recently, Binance announced the listing of TON with new spot trading pairs, including TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY.

This move underscores the growing interest and integration of the TON blockchain in the broader cryptocurrency market.

At press time, TON was priced at $6.58.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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