TON Reaches 100 Million Holders, Signifying Massive Adoption Growth

News

  • TON reaches 100M holders in 2024, up from just 4.3M in January, thanks to key developments like gaming tokens on its network.
  • TON ranks 5th in blockchain revenue for Q3 2024, generating $4.9M, behind Ethereum, TRON, Solana, and Base.
  • Integrating Telegram’s user base boosted TON’s adoption, driving exponential wallet creation and solidifying its growth.

The total holders of the Open Network surged by over 100 million, which refers to the address with a non-zero balance. It is surprising that at the beginning of 2024, all holders passed for only 4.3 million. The increasing TON adoption within such a short-term period demonstrates that it is growing in cryptocurrency.

https://twitter.com/cryptoquant_com/status/1843634931806990375

Exponential Growth Driven by Key Developments

TON’s growth in 2024 accelerated with the introduction of gaming tokens, such as Hamster Kombat, on its blockchain. The launch of these tokens, particularly within the Telegram ecosystem, played an important role in onboarding millions of users into the TON network. Consequently, TON has integrated Telegram’s vast user base into the cryptocurrency, drawing increasing attention to its potential.

Besides, the upward trend in wallet creation signals a broader interest in the TON ecosystem. Throughout 2023 and 2024, the quantity of non-zero addresses increased at an exponential rate. Even if TON wasn’t very active in the beginning, this time in its history was crucial in making the network known.

TON Ranked Among Top Revenue-Generating Blockchains

TON also secured a spot as the fifth-highest revenue-generating blockchain in Q3 2024. Crypto Rank reports that TON generated $4.9 million in revenue during this period, trailing behind Ethereum, TRON, Solana, and Base. Ethereum led with $159 million, followed closely by TRON at $151 million. Solana and Base generated $54.7 million and $7.2 million, respectively.

https://twitter.com/TonTakeover/status/1843723370040570214

Significantly, TON’s revenue performance highlights its growing relevance in the blockchain sector. However, TON remains behind top networks like Ethereum and TRON in terms of total revenue. Still, its placement in the top five indicates rising engagement and potential for future growth.

The rapid growth of TON’s user base and income confirms the network’s status as a rapidly emerging blockchain. The platform’s capacity to attract millions of users, notably from the Telegram ecosystem, highlights its long-term potential.

The post TON Reaches 100 Million Holders, Signifying Massive Adoption Growth appeared first on Crypto News Land.

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