Why TON Is Surging While the Crypto Market Slumps

• TON’s transaction volume reaches $10 billion daily, highlighting its growing popularity and impressive growth.
• TON token holders increase from 2.9 million to 32 million, showcasing exponential growth.

Although the general crypto market is still down, there has been a tremendous upsurge in the Open Network (TON) native token.

As of right now, TON is trading for about $7.59, up 5.95% over the last 24 hours, according to CoinMarketCap data. The slow progress of most other cryptocurrencies contrasts sharply with this noteworthy increase.

Impressive Transaction Volume

The daily transaction volume of the token has impressively surpassed $10 billion, according to data from on-chain analytics firm CryptoQuant.

The volume, which ranges between $5 billion and $10 billion, indicates that the platform is becoming more and more well-liked. With Bitcoin’s average daily transfer volume of around $50 billion, for instance, the token has already used 10% of Bitcoin’s capacity.

Other important on-chain metrics are still growing steadily for TON, even outside of transaction volume. Token holders now number 32 million, a startling surge of more than 1,000% from 2.9 million. This rise emphasizes how the cryptocurrency community is using and accepting TON more and more.

With a market cap of more than $2.45 billion, TON is now ranked ninth out of all cryptocurrencies. This outstanding position confirms that it is among the blockchains expanding the quickest in the market.

TON’s Enhanced Credibility and Future Plans

The rapid increase in TON token holders and transaction volume has significantly increased the legitimacy of the TON blockchain. Of course, this also drives up the token price.

The legitimacy boost can draw in a much bigger user base. In keeping with this, as their latest Twitter announcements indicate, TON has lofty goals to onboard 500 million users on-chain by 2028, as previously reported by CNF.