The price of Toncoin (TON) has been the standout performer among layer-1 tokens this year, with a remarkable surge of over 220%. This has outpaced the growth of major tokens like Ethereum (ETH), Binance Coin (BNB), Solana (SOL), and Cardano (ADA), which have seen increases of 55%, 80%, 40%, and a decrease of 30%, respectively.
Blockchain analyst, maartunn, has offered an explanation for TON’s outperformance, citing two main reasons. Firstly, the transfer volume of TON has skyrocketed, reaching between $5 billion and $10 billion, comparable to Bitcoin’s daily transfer volume of around $50 billion. This means that TON has achieved approximately 10% of the industry’s leading cryptocurrency. Additionally, other key metrics, such as the total value locked (TVL) in TON’s ecosystem, has surged to over $923 million, ranking it as the 12th largest chain in the industry. The volume of stablecoins in the ecosystem has also risen to over $450 million, primarily within networks like DeDust, STON.fi, Tonstakers, and Stakee.
Secondly, the number of TON holders has increased to over 34.5 million, a substantial rise from 2.9 million a year ago, marking a tenfold increase in just one year. This trend is expected to continue in the coming months, with the upcoming launch of TapSwap, a popular tap-to-earn platform on Telegram, selecting Toncoin as its blockchain of choice. This launch is anticipated to bring over 50 million users to TON’s ecosystem.
In summary, the surge in Toncoin’s price can be attributed to its thriving ecosystem and the exponential growth in the number of holders.