Recently, the Toncoin network, which is linked to the Telegram application, has witnessed a noticeable increase in activity compared to the Ethereum network, which is one of the older networks and has dominated the decentralized applications scene for some time.
Data from Artemis indicates that Toncoin has regularly outperformed Ethereum in terms of the number of unique daily addresses executing transactions during most days this month.
On June 3, the number of unique daily addresses for Toncoin jumped to 568,300, the highest level this year, significantly exceeding the number of active addresses on Ethereum, which reached 351,400, by a difference of 62%.
This rapid increase reflects the significant changes taking place in the cryptocurrency sector.
Noticeable increase in daily transaction volume:
Since mid-March, the daily transaction volume of the Toncoin network has exceeded that of Ethereum.
On May 17, the number of daily transactions on Toncoin reached 9 million, compared to 1.1 million transactions on Ethereum on the same day.
This sharp rise in user activity is attributed to Telegram's massive user base of 900 million users, according to a Delphi Digital report.
Currently, TON is trading at $7.5, having recovered from a two-month low of $6.76 on June 11.
Over the past 24 hours, trading volume has increased by more than 100%, reaching $491 million, according to CoinMarketCap data.
This price recovery has enabled significant profits for many TON holders, as the value of the coin has seen a 9% increase.
The profit-to-loss ratio for TON transactions, at 14.22, marks its highest level since February, reflecting a large number of investors achieving positive returns.
Social metrics from Santiment reinforce this optimistic outlook, showing a positive metric with a weight of 0.75, reflecting an optimistic outlook of the cryptocurrency community towards TON.
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