TON Blockchain Sees Massive Growth as User Base Surges to 100 Million Addresses in 2024

• TON’s holder count surged from 4.3M in January to 100M by September 2024, driven by Telegram gaming token integrations.
• Telegram’s adoption of TON and new projects like Hamster Kombat sparked exponential growth in unique addresses this year.
• Santiment data reveals a correlation between TON’s price volatility and social volume, peaking in June at $7.5 amid high interest.

TON, The Open Network, has seen an increase in its holder count, reaching 100 million unique addresses, according to CryptoQuant reports. As of January 2024, TON had only 4.3 million holders. 

This surge highlights a sharp rise in adoption, driven in part by the integration of major Telegram gaming tokens such as Hamster Kombat. TON’s growing user base is bringing millions into the crypto space through the Telegram platform.

Steady Early Growth, Accelerating in 2024

From 2020 to mid-2023, the number of TON addresses remained relatively stable, hovering just above 25 million. Growth was slow but began to pick up in mid-2023, the beginning of a more active phase for the network. By early 2024, the holder count reached 25 million, showing the initial signs of more substantial adoption.

However, the most notable shift occurred in the second quarter of 2024, when the number of non-zero addresses started rising rapidly. By September 2024, the count neared 100 million, suggesting a massive influx of new users in just a few months. This exponential growth reflects heightened interest in TON, due to new tokens and expanded partnerships within the network.

Sharp Uptick in TON Holder Count

The increase in TON addresses between early 2024 and September marks a major surge in user activity. This rise, from 25 million to nearly 100 million, points to the growing popularity of the TON blockchain. The sharp upward movement suggests new participants are entering the market at a high rate, likely encouraged by recent projects and integrations.

This growth is also reflective of the network’s expanding utility. As more users hold TON tokens, it indicates increased usage for decentralized applications (dApps) and transactions on the platform. Such trends could lead to more demand for TON tokens, further boosting the network’s utility.

Price Movement and Social Volume

Santiment data highlights TON’s price movement and its correlation with social volume from April 2024 to October 2024. Starting at $6.5 in April, TON’s price experienced volatility, dipping to $4.0 by late April. However, the price rebounded in May, peaking at $7.5 by mid-June. Following this rise, a correction brought the price back down, stabilizing at $5.178 by October.

Notable spikes in social mentions occurred during key price movements, with the largest increase in August when social volume reached 900 mentions per day, coinciding with a price drop from $6.5 to $5.0. By October, social activity had decreased, indicating a period of consolidation for TON.