Bitrabo Editorial
Recent on-chain analysis highlights that Toncoin (TON) is now leading in network activity among cryptocurrencies.
Toncoin’s Active Addresses Have Increased Significantly
Data from the market insights platform IntoTheBlock indicates that the number of active addresses for Toncoin has recently surged. The term “Active Addresses” refers to the number of distinct addresses involved in transactions on the network.
This metric counts only unique addresses engaged in sending or receiving transactions. A higher number of active addresses suggests that many users are currently engaging with the blockchain, indicating a possible increase in investment and trading activity. Conversely, a lower number signals diminished interest, as fewer users are making transactions.
The following chart from IntoTheBlock illustrates the trend of Active Addresses across major Layer 1 networks:
Layer 1 networks describe blockchains that maintain their own security without relying on another network, serving as foundational layers for additional sub-networks.
The graph indicates that Toncoin has experienced substantial growth in Active Addresses over the past several months, particularly in recent weeks.
Earlier this year, TON surpassed Bitcoin (BTC) and Ethereum (ETH) in this measure and has now outperformed Tron (TRX) as well, becoming the leading network for Active Addresses.
During its peak, Toncoin registered an impressive daily average of three million unique addresses participating in transactions. Although the figure has slightly decreased since then, it remains notably high.
This uptick in Active Addresses for TON suggests a growing user base, although such activity doesn’t automatically correlate with rising asset prices. Increased trading activity can lead to price fluctuations, which might swing in either direction, not solely upwards.
It is yet to be determined whether Toncoin will maintain its position as the dominant cryptocurrency in active addresses in the near future, and if this heightened activity will influence its price.
Current Price of TON
In the last 24 hours, Toncoin has seen a price increase in line with the broader market, now trading near $5.7, up by 4%.