The Open Network (TON) continues to demonstrate impressive growth, recently achieving higher active address counts than some of the most prominent blockchains in the industry.
As per statistics from market intelligence platform IntoTheBlock, the number of daily active TON addresses jumped to 3 million during the first week of September.
This number surpassed the daily active addresses of notable Layer 1 networks, including Bitcoin and Ethereum. The rising popularity of TON in recent months has garnered significant interest from developers, investors, and users, further establishing its status as a formidable player in the blockchain arena.
Surge in USDT Trading Volume on TON
Alongside the increasing active address count, TON has seen a notable rise in on-chain trading volumes, particularly within the stablecoin market.
The blockchain ranks among the top networks for USDT trading volumes. According to IntoTheBlock, TON achieved a remarkable $1.2 billion in USDT trading volume with 1.5 million unique holders on September 9.
In contrast, Tron remains the leading blockchain for USDT trading, recording $98.1 billion in trading volume on September 9, followed by Ethereum with $34.3 billion.
Analysts suggest that the increase in USDT trading on TON signals a growing interest and adoption among its users. Earlier in April, Tether, the issuer of USDT, launched the stablecoin on the TON network.
Significant Growth Potential
The quick adoption of popular TON-based decentralized applications (dApps) such as Hamster Kombat and Notcoin has greatly contributed to the network’s expansion. These tap-to-earn initiatives have heightened user engagement on the TON blockchain in recent months.
As a result, TON secured a $30 million investment from cryptocurrency exchange Bitget and Foresight Ventures yesterday, aimed at enhancing the development of tap-to-earn projects.
With the network’s popularity climbing, market analysts believe that the TON ecosystem presents “the biggest growth opportunity” in the cryptocurrency sector this year.
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