TON Overtakes Bitcoin to Become the Fastest Growing Network of 2024
TON has managed to overtake Bitcoin and other cryptocurrencies and become a fast-growing L1 network due to recent changes in the ecosystem.
Such data was shared by the analytical company CryptoQuant, emphasizing that TON's performance has grown to a year-to-date (YTD) high. This year, Bitcoin managed to reach an all-time high of $72,000, but the growth of TON was more significant: the coin managed to outperform the main cryptocurrency by 118%.
$TON is among the best-performing layer 1 blockchains in 2024
— CryptoQuant.com (@cryptoquant_com) May 14, 2024
“Since the beginning of 2024 @ton_blockchain has outperformed #bitcoin by 118% while other popular layer-one chains have struggled to find strength.” – By @BenSizelove
Read more 👇https://t.co/qbbqUSVIIp pic.twitter.com/iNnnxQTuZc
A key factor in TON's success has been the positive social reaction to the recent changes in the ecosystem. Despite the fact that at the moment the market continues to succumb to bearish sentiment, TON is one of the few tokens on the market that manages to maintain positive dynamics. Analysts from Santiment came to this conclusion.
📉 With #bearish sentiment high, #crypto markets have continued to slip over the past week. Overall, the market has dropped -3.6%, and volume is -27% lower than the previous week. $TON, $KAS, $RUNE, and $AKT have kept traders hopeful. https://t.co/E6b2DtmAxI pic.twitter.com/VoiCJk1ymh
— Santiment (@santimentfeed) May 13, 2024
On social networks, part of the crypto community and enthusiasts are actively discussing TON and the latest changes in the network. In addition, they note the strong technical performance of the coin, and in particular its upward position against the dollar and Bitcoin.
"TON’s relative strength against Bitcoin coupled with the network effect of Telegram make it a crypto worth monitoring this bull run," CryptoQuant concludes.
