Markets
Why TON is rising while the crypto market is crashing
- TON’s trading volume reaches $10 billion per day, highlighting its growing popularity and impressive growth.
- The number of TON token holders increases from 2.9 million to 32 million, demonstrating exponential growth.
Although the general crypto market is still down, there has been a tremendous resurgence in the native Open Network token (TON).
At present, TONNE trades for approximately $7.59up 5.95% in the last 24 hours, according to data from CoinMarketCap. The slow progression of most other cryptocurrencies stands in stark contrast to this notable rise.
Impressive trading volume
The token’s daily trading volume has impressively surpassed $10 billion, according to data from on-chain analytics company CryptoQuant.
The volume, which fluctuates between 5 and 10 billion dollars, indicates that the platform is increasingly appreciated. With an average daily transfer volume of around $50 billion, for example, the token has already used 10% of Bitcoin’s capacity.
Other important on-chain metrics continue to grow steadily to TONNE, even outside of transaction volume. Token holders now number 32 million, a surprising increase of over 1,000% from 2.9 million. This rise highlights how the cryptocurrency community is increasingly using and accepting TON.
With a market capitalization of over $2.45 billion, TONNE is now ranked ninth among all cryptocurrencies. This exceptional position confirms that it is one of the fastest growing blockchains on the market.
Improved credibility and future plans of TON
The rapid increase in the number of TON token holders and trading volume has significantly increased the legitimacy of the TON blockchain. Of course, this also drives up the price of the token.
Building legitimacy can attract a much larger user base. In line with this, as their latest announcements on Twitter indicate, TON has ambitious goals onboard 500 million users on-chain by 2028, as previously reported by CNF.
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