Toncoin active addresses hits daily average of 3 mln: Impact on TON?

TON

As a seasoned researcher who has witnessed the ebb and flow of the cryptocurrency market for years, I must say that the recent performance of Toncoin [TON] is nothing short of intriguing. The sustained recovery, increased trading volume, and surging active addresses are all signs that this project is gaining momentum.

For the last seven days, Toncoin (TON) has shown a steady upward trend in its pricing. Currently, it’s being traded at approximately $5.78. Over the past day, this represents an uptick of around 4.8%.

Also, on weekly charts, the altcoin has surged by 7.78%.

Previously, Toncoin had been experiencing a decrease, dropping by approximately 15.61% over recent months. But, an uptick in interest as shown by increased trading activity offers some encouraging signs for Toncoin.

Consequently, the trading activity for Toncoin increased significantly by approximately 46.6%, reaching a total of $322.5 million. This significant surge suggests an increasing interest and usage of Toncoin, as noted by analysts from IntoTheBlock.

Toncoin active addresses hit 3 million daily

According to IntoTheBlock, TON has experienced an exponential surge in active addresses.

As an analyst, I’ve noticed a remarkable surge in Toncoin’s active addresses, outpacing many other layer 1 blockchains. Consequently, Toncoin has managed to surpass prominent cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE), Tron (TRX), and Avalanche (AVAX).

Over the course of the first seven days in September, I’ve noticed an interesting trend with Toncoin – it consistently maintained an average of approximately 3 million active wallets per day.

This growth indicates that the network is seeing a rise in acceptance and utilization, implying that an increasing number of individuals are interacting with it. A greater count of active addresses signifies more user engagement.

As a crypto investor, I’ve noticed an exciting trend with Toncoin – it’s been consistently racking up transactions. Just last week in September, Toncoin handled a whopping 59.98 million transactions, which speaks volumes about the growing interest and activity within its ecosystem.

Increased transaction counts are an indication that the Ton network is being widely used and active.

Any implications on TON’s price charts ?

According to an analysis by IntoTheBlock, the rising action within the Ton blockchain suggests potential improvement in the altcoin’s market behavior. The point of interest here is what effect will this have on its price trends?

For starters, TON has experienced a sustained positive price DAA divergence over the past week.

An increase in network activity, indicated by a positive DAA Divergence, suggests that more users are engaging, despite the price holding steady. This could mean growing demand for purchases, potentially leading to a rise in prices over time.

Furthermore, over the past seven days, there’s been a significant surge in the influx of large holders, peaking at approximately 563.7 million tokens.

Read Toncoin’s [TON] Price Prediction 2024–2025

This additionally demonstrated an escalating interest in Toncoin from major investors, a trend reinforced by the significant accumulation of Toncoin by these ‘whale’ investors.

In simpler terms, Toncoin is currently quite popular, shown by the high number of active addresses and transactions. If the present market trends persist, Ton might attempt to surpass its earlier resistance level approximately at $6.75.

2024-09-20 01:11

Toncoin active addresses hit 3 million daily

Any implications on TON’s price charts ?

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