TON Coin (TON) Poised to Surpass Ethereum (ETH) in Number of Holders by Year-End: CryptoQuant Analyst

TON, the native token of “The Open Network” blockchain protocol, is growing in stature and gaining significance in the cryptocurrency industry.

Cryptoquant Analyst: TON Holders to Surpass ETH Holders by Year-End

A recent analysis by a Cryptoquant analyst has shown that the number of TON holders could surpass those of Ethereum (ETH) before the end of the year. The analysis is based on the growth rate of TON holders, which currently stands at an average of 500,000 users daily.

In a recent post, the Cryptoquant analyst highlighted the growth in the number of TON holders, contrasting it with the slower rate of ETH holder growth. As of now, there are 137 million ETH holders compared to 112 million TON users. However, the analyst points out that TON’s rapid growth rate could quickly push the blockchain token past the predicted target.

According to the analysis, if TON continues to gain an average of 500,000 users daily, and assuming ETH adds 100,000 holders monthly, then TON users will outnumber ETH users by December 2023.

On the other hand, if TON’s user growth slows down to an average of 250,000 users daily, and assuming ETH adds 50,000 holders monthly, then TON users will surpass Ethereum’s in February 2025.

The analysis makes two crucial assumptions: that the growth rate of TON users will slow down, and that Ethereum will continue to add new users albeit at a slower pace. These assumptions are based on the recent trends in the growth of both TON and ETH users.

The analysis also highlights the impressive adoption rate of TON in 2024, which has seen the crypto token multiply in value by nearly 350% between January and June this year, reaching an all-time high of $8.28.

As reported by CoinEdition earlier this year, TON’s value has surged in 2024, reaching an all-time high of $8.28 on June 17. The crypto token has since retraced, trading for $4.95 at the time of writing, according to data from TradingView.

The surging number of TON holders, as revealed by the Cryptoquant analyst, adds another layer of credibility to the crypto token’s growth. It suggests that the growth is backed by organic adoption, with the potential to maintain a high level of decentralization. Surpassing Ethereum in the number of token holders would mark a significant milestone for TON, the token behind a community-driven project designed to enable fast transactions and support a variety of DApps.

This article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned.

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