Toncoin Transfer Volume Hits $10 Billion, Social Appeal Soars

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,208,959,789,255	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,208,959,789,255

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	746.34	1.23%	61,559.14	61,555.73	61,559.14

Price Change

Price Change %

Current Price

Bid Price

Offer

746.34

1.23%

61,559.14

61,555.73

61,559.14

High Price	Low Price	Open Price	Prev. Close	52 Week Range
62,346.16	60,546.94	60,810.93	60,812.80	24,900.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

62,346.16

60,546.94

60,810.93

60,812.80

24,900.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	00:38:37	0.000457	61,559.14	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

00:38:37

0.000457

61,559.14

USD

Price x Volume	Volume	Base Symbol	Related Pairs
878,295,764.39	14,305.74	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

878,295,764.39

14,305.74

Toncoin Transfer Volume Hits $10 Billion, Social Appeal Soars

22/06/2024 2:00pm

NEWSBTC

Toncoin, the brainchild of messaging app giant Telegram, is making waves in the cryptocurrency world. A recent report by CryptoQuant, a leading crypto analysis platform, has identified Toncoin as one of the fastest-growing blockchain networks. While established giants like Bitcoin reign supreme in daily transaction volume, TON’s growth metrics paint a compelling picture of a network poised for a breakout. Related Reading: Follow The Whales? Arthur Hayes Buys Pendle, Token Soars 25% Transaction Velocity: A David-Vs-Goliath Story While Bitcoin processes a staggering $50 billion daily in transactions, TON’s daily volume sits between $5-$10 billion. This, at first glance, might seem like a David-and-Goliath scenario. However, there’s a crucial detail to consider: TON is only four years old, a mere pup compared to Bitcoin’s seasoned presence. This rapid climb in transaction volume for such a young network suggests a growing appetite for TON’s capabilities, particularly for facilitating large transfers of digital assets. On-chain metrics of $TON are going parabolic! “The transfer volume ranges between $5.0B ~ $10.0B. For comparison, #Bitcoin‘s average daily transfer volume is around $50.0B. This indicates that #TON has already achieved between 10% Bitcoin’s capacity.” – By @JA_Maartun Read… pic.twitter.com/56VjsAGOwL — CryptoQuant.com (@cryptoquant_com) June 20, 2024 Related Reading: Tron’s USDT Triumphs: Daily Volume Climbs Above $53 Billion, Dwarfing Visa Crypto analysis reveals a tenfold increase in TON token holders over the past year, skyrocketing from 2.9 million to over 30 million. This surge in user adoption suggests a growing trust in the network and could potentially pave the way for a more robust and vibrant TON ecosystem. A larger user base translates to a wider pool of developer talent, increased opportunities for innovation, and ultimately, a stronger network effect that attracts even more users. Messaging App Integration: A Catalyst For Crypto Adoption? The unique advantage TON possesses lies in its connection to Telegram, one of the most popular messaging apps globally, boasting over 900 million users. This integration has the potential to be a game-changer for crypto adoption. Challenges Ahead For Toncoin However, there are still hurdles to overcome. The regulatory landscape surrounding cryptocurrencies remains complex, and TON will need to navigate these challenges to achieve mainstream adoption. Additionally, questions linger about the scalability of the TON network. Can it handle the massive influx of users that Telegram’s integration might bring? Meanwhile, as TON boasts impressive growth in users and transaction volume, its token price hasn’t quite mirrored this enthusiasm. In the last 24 hours, TON has dipped 0.5%, and over the past week, it’s down 10.4%. Featured image from California Business Journal, chart from TradingView

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