The Open Network Active Addresses Hits Record High
LUCKNOW (CoinChapter.com) – The number of active addresses on TON (The Open Network) blockchain has has reached an all-time high. Recent data shows that the TON masterchain has recorded 946 active addresses daily, an increase of over 700% since July 2021. This growth indicates a substantial rise in network engagement and adoption, signaling positive momentum for the ecosystem.
TON masterchain recorded 700% increase since July 2021. Source: CryptoQuant
Active addresses refer to unique wallet addresses that have participated in blockchain transactions within a specific timeframe. This metric is crucial for assessing a blockchain’s health and adoption rate, as it reflects the number of users actively engaging with the network.
Factors That Fueled This Surge
Several key factors have contributed to the surge in TON’s active addresses. The integration with Telegram, boasting over 900 million users, has played a significant role in driving adoption. This massive user base has naturally extended into the TON ecosystem, increasing engagement and transactions on the blockchain.
The rise of popular mini-apps like Notcoin, a “tap-to-earn” token that quickly attracted millions of users, has attracted millions of users. Additionally, $DOGS token got listed on major exchanges like Bybit, Bitget, and Gate.io has further fueled interest in the TON network. The $DOGS token has become one of the most downloaded mini-apps within the ecosystem.
Additionally, new features such as “Telegram Stars” for in-app purchases have further integrated The Open Network into users’ daily activities. Strategic partnerships, including the integration of Tether (USDT) on the TON blockchain, have also boosted network activity.
Will It Impact TON Price?
While the increase in active addresses is a positive indicator for ecosystem health, its direct impact on the Ton coin’s price is not guaranteed.
However, several factors suggest potential bullish implications. Higher network activity often leads to increased demand for the native token, potentially driving up its price. As more users join the ecosystem, it becomes more valuable, potentially attracting more investors and users.
A growing user base may also attract more developers to build on The Open Network. Positive growth metrics can improve overall market sentiment towards TON, potentially leading to price appreciation.
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