Toncoin Daily Active Addresses Surge 5360% YoY
Highlights
- Toncoin daily active addresses surge, hinting rising adoption of the project.
- The ecosystem boasts a diverse functionality.
- Toncoin leverages Telegram to further solidify its stance in the crypto industry.
Toncoin, the native token of the TON (The Open Network) layer 1 blockchain, has recently marked a monumental stride. As per data unveiled by ‘The Block Pro’ today, the daily TON Wallet active addresses on the network surged by a whopping 5360% YoY this month. Overall, this data has garnered significant optimism for TON and its ecosystem, underscoring burgeoning global adoption. Here’s a brief overview of the data that has set off optimistic waves for the layer 1 blockchain.
Toncoin Daily Active Addresses Spike Leveraging Telegram
According to the insights offered by ‘The Block Pro,’ TON daily active addresses surged 5360% year-over-year to reach 373K as of July 15. This indicated increased usage, network growth, and sparked a bullish market sentiment for the Toncoin ecosystem.
Meanwhile, data also revealed that over half of the projects that run on the ecosystem run as bots on Telegram, the social media platform. This underscores a strong link between the two entities, spearheaded by Pavel Durov.
Further, the ecosystem’s top categories that magnetize users encompass analytics, gaming (P2E), and investments, illustrating diversity that is supported community interest. ‘The Block Pro’s’ data identified over 200 projects across eight different categories within the layer-1 blockchain, further solidifying user appeal.
In light of TON’s rising adoption, it’s worth mentioning that the layer 1 blockchain today revealed its strategic partnership with Animoca Brands’ Mocaverse & MOCA Foundation. Altogether, Toncoin’s saga has reverberated optimism among crypto market participants across the globe.
Also Read: Mt Gox Set For Large Bitcoin Repayment Ahead Ethereum ETF Launch
What’s Next?
Meanwhile, The Open Network has continued embarking on a plethora of developments in recent days. As seen with the launch of Notcoin, Hamster Kombat, and BabyDoge’s PAWS, among many other P2E (Play to Earn) games, the TON blockchain’s unique user experience via Telegram’s ease has gained significant traction.
Also, the TON price noted gains of 377% on a YoY basis. Besides, the crypto traded at $6.97 at press time, showcasing signs of consolidation.
Nonetheless, the colossal spike in the daily active addresses has added a bullish tint to the project’s endeavor.
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