TON surpassed Ethereum in active addresses

Since the beginning of June, The Open Network (TON) has surpassed Ethereum in terms of active addresses, indicating greater user interaction.

On June 3, the difference between both networks was more evident, with TON registering 568,000 active addresses, while Ethereum had 351,000.

Currently, the difference is smaller but still significant. TON has 377,000 active addresses, compared to 375,000 for Ethereumas seen in the following graph from the Artemis analysis platform.

This increase in active addresses is a clear sign of the growth that the TON network has experienced. The total value locked (TVL) of the network also demonstrates its expansion.

At the beginning of March, the TVL was 22 million dollars, figure that has skyrocketed to 454 million dollars in just two monthsrepresenting a 1,900% increase, as seen in the DeFiLlama chart below.

During May, the daily transaction volume on the TON network also showed a notable increase, going from 4.5 million to 6 million daily transactions. The majority of these transactions involved amounts exceeding one million dollars.

Joao Wedson, a market analyst, noted that TON is a “robust network with high value transfer capacity and a gradual increase in the participation of large investors.”

TON allows you to create a wide variety of applications

The TON network has seen such growth by allowing developers to create a wide variety of solutions, including wallets, exchanges, video games, staking applications, DeFi protocols, and the creation of non-fungible tokens (NFT). Mainly, they are used within the ecosystem of the Telegram messaging application.

In April, the TON Foundation launched a long-term incentive program for users, projects, teams and traders, with the aim of distributing 30 million units of toncoin (TON)the network’s native cryptocurrency.

Additionally, the TON Foundation allows users to create their own memecoins, making it easy for communities to design and develop their projects without the need for code, using open source templates or starting from scratch, depending on their knowledge and skill.

A game increases the popularity of TON

One of the projects that has attracted the most users is the Notcoin game, which has attracted more than 30 million Telegram users.

In this game, Players tap a golden coin on the screen to earn NOT units, the governance coin of Notcoin. Each player’s energy depletes and recharges over time, limiting the number of clicks that can be made.

Finally, the expansion of tether (USDT), the stablecoin with the largest market capitalization, to the TON network, has further boosted activity and liquidity in the network, as reported by CriptoNoticias.

This launch has been the fastest growing network for Tether, and TON has announced additional benefits for Wallet app users (a Telegram bot), allowing them to earn up to 30% annual yield (APY) by storing USDT.

The network has been so well received that its cryptocurrency Toncoin reached its all-time high (ATH) of $7.78 on June 5. Its price is currently $6.84, as indicated by the TradingView chart.

Cryptocurrency too has expanded to platforms like Travala, a cryptoactive travel booking company, presents a company statement. This company allows TON holders to book more than 2,200,000 hotelsmore than 600 airlines and more than 410,000 activities in more than 230 countries.