Toncoin Holders Cross 100M As TON Adoption Explodes 2,225%

On-chain data shows that the number of Toncoin holders has crossed the 100 million mark following acceleration in TON adoption.

The number of token coin holders has increased by 2,225% since the beginning of 2024

As explained by CryptoQuant Community Manager Maartunn in the new Quicktake mailRecently, the TON network set a new record. On the chain The relevance measure here is the number of owners, which measures the total number of addresses on a given blockchain that currently hold a non-zero balance..

When the value of this indicator increases, it means that a net amount of unique addresses with credit appear on the network. This may be caused by new users or old users who sold the asset before returning to it.

Existing investors also naturally contribute to this trend by opening new addresses for privacy purposes. Generally, all of these factors contribute to a score simultaneously, so it can be assumed that some net adoption of the coin will occur.

On the other hand, a metric undergoing a decline indicates that some coin holders have decided to liquidate their portfolios, perhaps because they want to move away from the cryptocurrency.

Now, here’s a chart showing the trend in the number of token holders over the past few years:

The value of the metric appears to have been sharply going up in recent months | Source: CryptoQuant

As shown in the chart above, the number of token coin holders has been rising steadily in previous years, but in 2024, the value of the index showed a sudden wave of acceleration.

At the beginning of the year, there were about 4.3 million unique addresses on the network which were maintaining some balance, and today, this number has increased to more than 100 million, which puts into perspective how huge the increase in address holders has been.

Martin noted that growth has accelerated recently with the launch of major Telegram game tokens on the TON network, such as Hamster Kombat.

““Whether you like TON as a cryptocurrency or network or not, TON is onboarding millions of users from the Telegram platform into the world of cryptocurrencies,” the analyst says.

Historically, adoption has of course been a constructive sign for cryptocurrency networks in the long term, as a broader user base provides a more sustainable foundation for future price movements to grow.

Continued adoption at least means that blockchain technology can attract new interest, ensuring that it will remain relevant in the near term. Given Toncoin’s massive growth, it may be a good thing in this regard.

Price per ton

Like the rest of the cryptocurrency market, Toncoin also started the month of October with a price decline, which has yet to recover with its value trading at around $5.19.

Looks like the price of the coin has seen a net uplift over the last 30 days | Source: TONUSDT on TradingView