Blockchain TON Surpasses Ethereum in Daily Active Users
Blockchain TON Surpasses Ethereum in Daily Active Users
The Open Network (TON), a blockchain developed by the Telegram team, has outpaced Ethereum in terms of daily active users as of June 2024. According to a post by Delphi Digital on June 10, the number of active daily addresses on TON has exceeded those on Ethereum. This milestone is attributed to Telegram's vast user base of 900 million and its widespread application distribution.
Delphi Digital describes this phenomenon as a "Flippening ignored by Crypto Twitter," referring to the potential shift in dominance from one major cryptocurrency network, in this case, Ethereum, to another.
However, Delphi Digital raises questions about the long-term sustainability of TON's growth and whether it can consistently maintain its lead over Ethereum.
Intense Competition Between TON and Ethereum
Data from Artemis reveals that TON and Ethereum have been neck-and-neck since May 2024, with TON first surpassing Ethereum on May 17. From early June, TON has consistently outperformed Ethereum for 10 consecutive days.
On June 3, TON set a record with 568,300 daily active users. In contrast, Ethereum has not reached such numbers since September 13, 2023.
Drivers Behind TON’s Network Activity Surge
The surge in TON's network activity is largely driven by the integration of the stablecoin Tether (USDT) into the TON ecosystem, including Telegram. Additionally, the introduction of various GameFi projects, which are gaining traction among users, has boosted activity. Notably, the project Notcoin has registered 35 million users since its official launch in January 2024.
Recently, Telegram introduced its own currency, Telegram Stars, which users can spend on goods and services within the app.
Conclusion
The recent developments in The Open Network (TON) showcase a significant shift in the blockchain landscape. By surpassing Ethereum in daily active users, TON has leveraged its integration with Telegram's extensive user base and its strategic embrace of stablecoins and GameFi projects. This impressive growth highlights the potential for newer blockchain networks to challenge established giants by harnessing unique user engagement strategies and ecosystem integrations. TON’s rapid rise exemplifies how blockchain platforms can gain traction through real-world applications and accessibility.
However, the long-term implications of this surge remain uncertain. While TON’s current momentum demonstrates its capacity to attract a large user base quickly, questions about its ability to sustain this growth and maintain a lead over Ethereum persist. The enduring competition between these networks underscores the dynamic nature of the blockchain space, where innovation and adaptability are crucial. As TON continues to evolve, its future success will likely hinge on its ability to expand beyond its current user base and offer compelling value propositions that resonate with a broader audience.
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