TON Addresses In Explosive Growth, Will Price Skyrocket?
The post TON Addresses In Explosive Growth, Will Price Skyrocket? appeared on BitcoinEthereumNews.com.
The Open Network (TON) blockchain, designed for scalable cross-chain interoperability, is witnessing rapid growth, as has the number of addresses. CryptoQuant, an on-chain data analytics provider, revealed details of the growth trajectory in a recent post shared on X with members of the community. STON.Fi Drives TON’s Network Growth CryptoQuant highlighted the significant increase in new addresses and transactions on the Decentralized Exchanges (DEX) within TON. Notably, the explosive growth in the new addresses suggests that interest in decentralized trading activities is rising. It also reflects the growing adoption of its DEX platforms. Remarkably, the rapid growth took place with the stabilization of TON’s price in the market. However, the price has stopped climbing and settled for a sideways movement. This development suggests that many investors were late to profit from it. Despite the current price stability, the new addresses on TON decentralized exchanges, particularly in STON.Fi, stand out. STON.Fi, one of the DEXs on TON, has gained dominance and accounts for about 90% of all transactions. This indicates that STON.Fi is the major driver of the network’s growth, with most of the trading activity and user engagement on the platform. STON.Fi’s growth more than doubles that of DeDust, as revealed in a chart shared by CryptoQuant. The other outfit with the least activity is Megaton Finance. This spike in growth rate began around April and maintained a steady move northwards until September. Impact of Mini Games on TON The TON ecosystem has proven to be a formidable force in the broader crypto space. Experts have attributed this to its close links to Telegram. The Network has allowed developers to flourish, creating mini-games on it. These games include Hamster Kombat, Rocky Rabbit, and Catizen among others. With over 22 million users, Catizen is a leading Gaming Bot in the TON…
Filed under: News - @ September 25, 2024 11:17 am