Binance Lists TON as Network Hits Record Active Addresses
Binance has recently added TON to its platform, introducing four new spot trading pairs: TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY. This move comes as the TON blockchain achieves a new milestone, with the number of active addresses on its Masterchain reaching an all-time high of 946 daily.
TON’s Growth and Network Activity
According to CryptoQuant’s latest analysis, this represents a more than sevenfold increase since July 2021, underscoring the growing popularity and adoption of the TON network. Although 946 active addresses might seem modest, it’s important to consider that the TON blockchain operates with multiple “workchains” which handle the majority of data, while the Masterchain focuses on message routing and transaction coordination.
This rise in active addresses suggests a surge in network activity and user engagement. Increased interaction with the platform likely translates into a higher volume of transactions and a growing number of decentralized applications (dApps) and workchains, contributing to the overall expansion of the ecosystem.
Economic and Ecosystem Impacts
The growth in network usage is expected to drive up demand for TON tokens, enhancing their utility and value within the blockchain ecosystem. The increased activity and expansion reflect positively on the network’s economic prospects.
Recent Developments in the TON Ecosystem
The TON blockchain has seen significant developments in 2024. The ecosystem has attracted considerable attention from venture capitalists, partly due to its association with the Telegram messaging service. In February, Telegram launched a revenue-sharing program that splits ad income 50/50 with channel operators, with payments made in TON tokens.
In April, Tether introduced its USDT stablecoin on the TON network, providing users with access to the prominent dollar-pegged stablecoin. Additionally, the launch of popular mini-games like Notcoin, Hamster Kombat, Yescoin, and Catizen has further boosted network growth.
The recent listing of TON on Binance with new trading pairs highlights the ongoing momentum and development within the TON ecosystem.