TON Masterchain Hits Record High in Daily Active Addresses

The Open Network (TON) has continued to receive massive attention, as its Masterchain recently recorded a new all-time high (ATH) in daily active addresses. 

According to a report by CryptoQuant analyst, Maartunn, the number of daily active addresses on the TON Masterchain has surged to 946, representing a 7x increase since July 2021. 

User Interest in TON Surges

The report emphasizes that while 946 active addresses daily might appear small, this figure applies only to the Masterchain. The TON blockchain uses multiple sidechains, known as workchains, to manage the bulk of its network data. 

The TON Masterchain is responsible for coordinating messages and executing transactions within the network. Thus, the latest surge indicates a growing interest in the TON ecosystem.

Additionally, the network is expanding to support more decentralized applications (dApps) and workchains, resulting in increased user activity. With its low transaction fees and speedy execution, TON network has seen a surge in the number of projects building on the platform. 

Over the past few months, the network has onboarded popular projects like Tapswap, Hamster Kombat, and Notcoin, thanks to its affiliation with the messaging app, Telegram. Tether’s recent launch of its USDT and XAUT assets on the TON mainnet further increased user activity on the network. 

With more people and developers using the network, the demand for Toncoin, the network’s native token, is expected to increase, boosting the blockchain’s overall economy. Investors’ interest in Toncoin is evident in the recent accumulation sprees.

Just last month, crypto whales purchased more than 45 million Toncoin, valued at $346.5 million at the time. Analysts believe the latest milestone emphasizes the steady growth of the TON blockchain. 

However, the growing popularity of TON has also attracted the attention of malicious actors. According to an analysis by the blockchain security firm, SlowMist, phishing attacks have become more prominent on the TON blockchain.