How Toncoins Price is Surpassing its Competitors
The price of Toncoin (TON) has emerged as the top-performing layer-1 token this year, with a staggering increase of over 220%. This growth has outpaced other major tokens such as Ethereum (ETH), Binance Coin (BNB), Solana (SOL), and Cardano (ADA), which have seen increases of 55%, 80%, 40%, and a decrease of 30% respectively.
Blockchain analyst maartunn has attributed TON’s outperformance to two key factors. Firstly, the transfer volume of TON has skyrocketed, reaching between $5 billion and $10 billion. Comparatively, Bitcoin’s daily transfer volume is approximately $50 billion, indicating that TON has already achieved about 10% of the largest cryptocurrency in the industry. Additionally, other metrics such as the total value locked (TVL) in TON’s ecosystem have surpassed $923 million, making it the 12th largest chain in the industry. Furthermore, the volume of stablecoins in the ecosystem has surged to over $450 million, primarily within Ton’s ecosystem networks like DeDust, STON.fi, Tonstakers, and Stakee.
Another contributing factor to TON’s success is the significant increase in the number of TON holders, which has surged to over 34.5 million from 2.9 million a year ago, marking a tenfold increase in just one year. This trend is expected to continue in the coming months, with the launch of TapSwap, a popular tap-to-earn platform on Telegram that has chosen Toncoin as its blockchain of choice. The launch of TapSwap is anticipated to bring over 50 million users to TON’s ecosystem.
In conclusion, the surge in the price of Toncoin can be attributed to its thriving ecosystem and the exponential increase in the number of holders.
