- TON has retained the $6.3 price range.
- However, there was less activity from its daily active addresses.
Toncoin [TON] has experienced substantial growth in its blockchain infrastructure over recent months, achieving a record number of wallet addresses. Concurrently, the Total Value Locked (TVL) on its platform has shown a notable upward trend.
However, the number of active addresses on the Toncoin network has followed a more consistent and steady pattern, without significant fluctuations.
Toncoin sees a spike in addresses
Data from IntoTheBlock indicated a remarkable surge in Toncoin’s wallet addresses. The data showed that the number soared from approximately 3.6 million in January to over 39.5 million at press time.
This growth signified a significant expansion in on-chain activity over the year.
AMBCrypto’s analysis of Toncoin’s Total Value Locked (TVL) from DeFiLlama corroborated this trend of increasing blockchain engagement. The data showed that TVL rose sharply from around $14 million in January to over $596 million at press time.
Source: DefiLlama
However, it’s important to note a recent downturn, as the TVL peaked at over $750 million on the 29th of July before declining to its current levels.
Toncoin sees less spike in token addresses
AMBCrypto’s look at Toncoin’s daily active addresses revealed a modest but steady trend over recent months. The trend, however, doesn’t quite match the explosive growth seen across the broader network.
Source: Santiment
The peak number of daily active addresses in the last four months was 981 in April. At press time, the number was 400.
This month’s highest activity recorded was about 741 active addresses, indicating a significant variation in daily engagement on the Toncoin network over time.
TON sees less excitement
Toncoin’s price trend has displayed considerable volatility over the past few weeks, according to analysis of its daily time frame chart from AMBCrypto.
This volatility is visually captured by the widening of its Bollinger Bands, which typically indicates increased market volatility due to significant price moves up and down.
Source: TradingView
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As of this writing, TON was trading at around $6.3, showing a modest increase of over 1%. This slight rise followed a less than 1% increase in the previous trading session.
However, it still fell short of compensating for the over 6% decline experienced two sessions earlier.