Recently, the TON blockchain has attracted a lot of attention, especially concerning the user base of its most popular tokens.
Popular Tokens on TON Blockchain
The TON blockchain hosts five of the most popular tokens by user addresses: TON, USDT, CATI, NOT, and DOGS. TON has 19.39 million addresses, USDT 1.54 million, CATI 1.09 million, NOT 2.86 million, and DOGS 5 million. This is a significant difference from Ethereum's leading meme coin PEPE, which has only 280,000 addresses.
Problems with User Count
However, it is important to note that tokens like CATI, NOT, and DOGS promote spamming and wallet farming. While these figures may be impressive at first glance, they may not represent reality. >CITE_NA: The top five tokens on the TON chain are TON, USDT, CATI, NOT, DOGS, with 19.39 million, 1.54 million, 1.09 million, 2.86 million, and 5 million addresses on the chain. In comparison, Ethereum's top Memecoin PEPE has only 280k addresses on the chain, which shows the huge number. [pic.twitter.com/0QWXAYdm8w](https://t.co/0QWXAYdm8w) — Wu Blockchain (@WuBlockchain) [September 22, 2024](https://twitter.com/WuBlockchain/status/1837705718780383362?ref_src=twsrc%5Etfw)
Long Way for TON Blockchain
Even though the TON network is expanding, it still falls significantly short compared to industry leaders like Ethereum and Solana. The total value locked (TVL) on Ethereum is approximately 100 times larger than that of TON. Similarly, Solana's TVL is about 10 times higher compared to TON. While the figures for TON tokens may seem impressive, they do not fully represent actual user behavior. Objective metrics continue to place blockchain ecosystems like Ethereum and Solana in the lead, indicating that TON has a long way to go before really competing on the same level.
While the TON blockchain shows significant growth, its current metrics are often misleading regarding the actual user count. In conclusion, TON faces the need for further development to compete with established industry leaders like Ethereum and Solana.
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