The $TON Network has hit impressive new benchmarks over the past two weeks, recording 1.1 million daily active user addresses and an astonishing 14.4 million daily transactions.
This surge in activity coincides with the recent success of $DOGS, which made history with the largest meme Token Generation Event (TGE) ever, attracting 53 million participants and distributing airdropped tokens to 17 million users.
🚨 $TON Network Hits Major Milestones! 🚨
In the past two weeks, $TON saw 1.1M daily active user addresses and a staggering 14.4M daily transactions! 🏆 $DOGS made history with the largest meme $TGE, with 53M participants and 17M users receiving airdropped tokens! 🐶✨
With…
— Crypto News (CoinGape) (@CoinGapeMedia) September 10, 2024
With the upcoming TGEs for @Catizen and Hamster Kombat scheduled for September, the network is expected to face even greater technical demands, testing its capacity under increased pressure.
Record Transaction Activity
On August 31, 2024, $TON saw a record 8.68 million daily transactions, and the momentum has continued to build. By Friday, September 6, 2024, daily transactions exceeded 10 million, with 701.8K active addresses contributing to this surge.
$TON Experiences Surge in Activity
Reaching a new all-time high of 8.68 million on Aug 31, 2024 and over the past week, this figure continued to rise, exceeding 10 million transactions by Friday, Sep 6, 2024, with 701.8K active addresses.
Despite this surge in activity, TON's… pic.twitter.com/aJynSOCsmx
— Sankalp Hashtalk (@HashtalkSankalp) September 10, 2024
Despite this significant network activity, $TON’s price remains somewhat subdued, likely impacted by the arrest of Telegram founder Pavel Durov. However, the token has seen a 7% increase in the last 24 hours, suggesting renewed optimism among traders.
Smart Dex Traders Reenter the Market
On-chain data reveals that Smart Dex Traders (SDTs) have resumed buying $TON. During the price dip between August 24 and 28, SDTs purchased 153.4K $TON (roughly $843.8K). Since September 5, they’ve begun acquiring smaller amounts, totaling 44.93K $TON (~$215.7K). Interestingly, there has been little selling pressure during this period.
🔥Smart Dex Traders (SDTs) Buying $TON Again
👉See more details of $TON here: https://t.co/Jy6VejfK1a
Previously, SDTs bought 153.4K $TON (~$843.8K) when price dropped from Aug 24 to 28. Since Sep 5, SDTs are buying again, but this time in smaller amounts 44.93K $TON… pic.twitter.com/tTN4YkZmdR
— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) September 10, 2024
Over the past three days, $TON has risen more than 10% and is now approaching the average price at which SDTs made their purchases, suggesting confidence in the network’s long-term potential.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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