Telegram Mini-Apps Drive TON Blockchains User Surge

Even with declining activity following this peak, TONs daily active address count remained higher than other crypto assets. Compared to other networks, no other blockchain matched the activity levels or sustained growth that TON saw in 2024.

The Link Between Toncoin Price and User Engagement

Glassnode data shows that from 2022 to 2024, there was a strong correlation between the price of Toncoin (TON) and user engagement. Significant price increases often coincided with spikes in user activity.

In late 2023, TONs price jumped from around $1 to over $5, matching a rise in active addresses, which peaked at over 7 million. This price rally likely fueled increased participation on the network, further adding to the growth of TON.

However, following this surge, both user activity and the price of Toncoin declined in early 2024. This drop suggests that the network‘s participation is highly sensitive to price movements, with user engagement mirroring the token’s price.

Toncoins Current Market Performance

As of the time of writing, Toncoin (TON) was trading at $5.47, recording an increase of 2.00% over the past day. Despite this price increase, trading volume declined by 10.03%. The market capitalization of Toncoin stands at $13.95 billion, with a circulating supply of 2.55 billion TON out of a total supply of 5.1 billion.