- Toncoin has seen more daily active addresses than Ethereum since the beginning of the month.
TON’s weighted sentiment was positive for the first time since June started.
As a seasoned crypto investor with a keen eye for market trends and on-chain data, I’m excited to see Toncoin (TON) outperforming Ethereum (ETH) in terms of daily active addresses and transactions. This “flippening” as Delphi Digital calls it, is intriguing, especially given Telegram’s vast user base of 900 million.
Since the start of June, there has been higher demand for the Toncoin [TON] blockchain network associated with Telegram Messenger, surpassing that of Ethereum [ETH], the leading Layer 1 blockchain.
Based on data from Artemis, which is an on-chain data provider, there have been more distinct Toncoin addresses involved in transactions than Ethereum addresses for ten out of the past twelve days.
As a researcher studying blockchain networks, I’ve observed an intriguing development on Toncoin. Specifically, on the 3rd of June, the number of distinct addresses hit a yearly peak of 568,300. That’s a significant leap, exceeding Ethereum’s 351,400 by approximately 62%.
Since the 12th of March, Toncoin has surpassed Ethereum in terms of daily unique transaction counts. This discrepancy can be attributed to the current state of these networks.
As a crypto investor, I’ve noticed an interesting development on May 17th. The daily transaction count for Toncoin reached a year-to-date peak of 9 million. In comparison, Ethereum saw 1.1 million unique transactions completed on the same day. This suggests a significant increase in activity on the Toncoin network compared to Ethereum during that period.
In a recent post on X, research company Delphi Digital coined this phenomenon as the “flippening.” Delphi Digital explains that the significant increase in daily activity on Toncoin compared to Ethereum is primarily driven by Telegram’s large user base of 900 million people.
TON puts holders in profit
As of the current moment, the value of TON in exchanges was at $7.65. Following a significant drop to a two-month minimum of $6.76 on the 11th of June, its price experienced a robust recovery, resulting in an impressive 11% increase.
As a researcher studying the cryptocurrency market, I’ve observed noteworthy trading activity surrounding TON in the past 24 hours. The altcoin’s trading volume has reached an impressive $491 million, marking a significant over 100% increase compared to the previous period, based on the data provided by CoinMarketCap.
The 9% price spike witnessed in the last 24 hours has led many of TON’s holders to record profits.
As a researcher studying the altcoin market, I examined the daily ratio of transaction volume in profits versus losses. At this moment, the figure reached an impressive height of 14.22 – a value last seen back in February.
As a crypto investor, I’ve noticed an intriguing pattern in my TON transactions. For each instance where I experienced a loss, there have been approximately 14 transactions resulting in profits.
Is your portfolio green? Check the Toncoin [TON] Profit Calculator
At the given moment, the sentiment analysis conducted by Santiment indicated that the token’s attitude was favorable. Notably, this was the initial occurrence of a positive weighted sentiment for TON since early June.
At present, the overall sentiment towards TON‘s altcoin in the social media sphere is favorable, as indicated by a sentiment score of 0.75.
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2024-06-13 12:07