Summary:
- TON Surpasses Ethereum: Telegram’s TON blockchain has consistently exceeded Ethereum in daily active addresses in June, driven by its vast user base of 900 million.
- Delphi Digital’s Perspective: Delphi Digital calls TON’s achievement the “Flippening CT ignores,” highlighting its underappreciated shift compared to Ethereum in blockchain activity.
- Comparison with Ethereum: Despite TON’s lead, Ethereum remains strong with its layer 2 scaling solutions like Arbitrum and Optimism, which attract substantial transaction volumes.
- Factors Driving TON’s Growth: Integration of Tether (USDT), popularity of Notcoin’s tap-to-earn model, and introduction of Telegram Stars for in-app purchases have fueled TON’s recent network expansion.
- Telegram’s Strategic Moves: Telegram’s launch of Telegram Stars for digital payments and expansion into Web3 gaming with platforms like Pixelverse reflect its broader strategy in crypto and decentralized applications (dApps).
Telegram’s TON Blockchain Surpasses Ethereum in Daily Active Addresses
Telegram’s blockchain initiative, known as “The Open Network” (TON), has recently made waves by consistently outperforming Ethereum in terms of daily active addresses (DAAs) throughout June. This achievement has sparked interest and debate within the crypto community, especially considering TON’s association with Telegram’s massive user base of 900 million.
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Delphi Digital Highlights TON’s Success
Delphi Digital, a reputable firm in the blockchain analytics space, underscored TON’s remarkable growth trajectory. They pointed out that TON’s DAAs have exceeded Ethereum’s on 10 out of the 11 days so far this month. This milestone, referred to as “The Flippening CT ignores,” emphasizes TON’s emerging presence driven by Telegram’s extensive reach.
TON vs. Ethereum: A Close Competition
Artemis data reveals that TON surged ahead of Ethereum in early June, peaking with 568,300 DAAs on June 3—a level Ethereum hasn’t seen since September 2023. Despite Ethereum’s ongoing adoption of layer 2 scaling solutions, which have attracted significant user activity, TON’s recent performance highlights its growing traction in the blockchain ecosystem.
Factors Contributing to TON’s Surge
TON’s recent spike in activity can be attributed to several factors. The integration of Tether (USDT) stablecoin on TON has likely bolstered transaction volumes. Additionally, the popularity of Notcoin, a “tap-to-earn” token launched five months ago on Telegram, has drawn in 35 million users. Moreover, Telegram’s introduction of “Telegram Stars,” an in-app currency for digital purchases, on June 6 has further stimulated user engagement.
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Telegram’s Expansion into Digital Payments
Last week, Telegram expanded its ecosystem with the launch of “Telegram Stars,” enabling users to make seamless in-app purchases. This feature is available on both iOS and Android platforms, enhancing user convenience and fostering deeper integration of digital currencies within Telegram’s messaging platform.
Growth of Telegram Mini Apps and Web3 Ecosystem
Telegram’s mini apps, including popular games like Hamster Kombat, have garnered substantial user interest. Hamster Kombat, in particular, has become a top channel on Telegram, attracting millions of players and showcasing the platform’s potential as a hub for Web3 gaming ecosystems. Recently, Pixelverse, a Web3 gaming ecosystem on Telegram, secured $5.5 million in funding from leading investors, underscoring growing confidence in Telegram’s role within the crypto and gaming sectors.
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Conclusion
Telegram’s TON blockchain’s surpassing of Ethereum in DAAs signifies a significant milestone in the evolution of blockchain platforms. With its expansive user base and innovative ecosystem developments, Telegram continues to redefine digital payments and decentralized applications (dApps), positioning itself at the forefront of blockchain adoption in the social media landscape.
Telegram's TON Blockchain Overtakes Ethereum in Daily Active Users: What's Driving the Surge?#ton #eth #telegram #user #blockchain pic.twitter.com/tPPtC87JFY
— City Telegraph (@0xCitytelegraph) June 13, 2024
This trend underscores the potential for Telegram’s blockchain initiatives to reshape how digital transactions and decentralized ecosystems interact within mainstream messaging platforms.
