TON Outpaces Ethereum in Daily Activity, Driven by Telegram’s 900 Million Users
The Open Network (TON) blockchain, supported by Telegram, has consistently recorded more daily active addresses than Ethereum throughout this month. Some analysts suggest this could represent a subtle “flippening,” driven by TON’s vast user base, though the data might not tell the entire story.
On June 10, Delphi Digital highlighted this trend on X, noting, “TON’s steady growth, bolstered by Telegram’s 900 million users, has pushed its daily active addresses above Ethereum’s. This is the ‘Flippening’ the crypto community isn’t discussing.” They further speculated on whether TON’s promising growth could continue long enough to surpass Ethereum permanently.
Artemis data, which defines daily active addresses (DAA) as the number of unique wallets making daily transactions, shows a competitive race between TON and Ethereum since May 17, when TON first overtook Ethereum. Since the beginning of June, TON has consistently outperformed Ethereum on 10 out of 11 days, reaching a peak of 568,300 DAAs on June 3. Ethereum, in comparison, hasn’t hit such numbers since September 13, 2023, according to Artemis.
However, this comparison might be somewhat skewed. Much of Ethereum’s user activity has shifted to layer 2 (L2) scaling solutions, making a direct comparison less straightforward. For instance, on June 11, the top three Ethereum L2s — Arbitrum, Base, and Optimism — collectively recorded 1.3 million daily active addresses.
Ethereum co-founder Vitalik Buterin has advocated for using L2s to scale the main blockchain, aligning with Ethereum’s development roadmap.
TON’s recent surge in network activity could be linked to several factors, including Telegram’s integration of the Tether (USDT) stablecoin on the TON blockchain and the 35 million users who have signed up for Notcoin, a “tap-to-earn” token launched five months ago. Additionally, Telegram introduced Telegram Stars, an in-app currency for digital purchases, on June 6. The popularity of Telegram trading bots has also contributed to the increased use of the messaging platform for crypto transactions.
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