Since its inception, TON has captured the spotlight and achieved a major feat by consistently outperforming Ethereum across various metrics in the first half of June. At present, TON has surged by 4.44% in the last 24 hours, reaching $7.9 and continuing to pique interest. This upward trajectory has propelled TON’s market capitalization past $19 billion, solidifying its position as the 9th largest in terms of volume. What factors are fueling TON’s ascent?
TON and Ethereum Rivalry
A key indicator of the competition between TON and Ethereum lies in the number of daily active addresses. Data from Artemis, depicted below, illustrates the number of distinct wallets engaging in transactions on the blockchain. Stay tuned to NEWSLINKER for the latest tech updates.
Artemis, analyzing data since May 17, presented a graph showcasing similar trends between TON and Ethereum. Notably, TON has achieved remarkable success.
Looking at the first 11 days of June, Artemis unveiled that TON surpassed ETH on 10 of those days.
On June 3, TON reached a historic milestone of 568,300 addresses, a figure last observed on Ethereum on September 13, 2023. It’s worth noting that Ethereum’s Layer-2 solutions handle a significant portion of the transaction volume.
Delving into data from a single day, on June 11, the daily active address count for Ethereum’s top 3 Layer-2 solutions—Arbitrum (ARB), Base, and Optimism (OP)—was tallied at 1.3 million.
What’s Driving TON’s Surge?
The recent upsurge in the TON ecosystem appears to be fueled by a variety of factors. Strong backing from Telegram and the buzz generated by mini applications have played a pivotal role in TON’s rise.
For example, Notcoin, a platform that has attracted millions of users globally and offers rewards, has significantly boosted the TON ecosystem. Following its gaming phase, NOT garnered widespread attention with its reward mechanism, debuting in the market in May and now ranking 49th with a market cap of $1.9 billion.
During this period, the TON ecosystem has garnered considerable interest and seen growth due to the impact of applications like NOT.
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Disclaimer: The information provided in this article is not financial advice. Investors should be aware of the high volatility and risk associated with cryptocurrencies and conduct their own research.
