Toncoin set to surpass Ethereum users by year-end

Toncoin (CRYPTO:TON), linked to Telegram, is experiencing rapid growth in its user base, with a recent surge in holders.

Analysts suggest that if the current growth rate continues, TON could overtake Ethereum (CRYPTO:ETH) in user adoption by December 20.

According to CryptoQuant analyst Maartun, Toncoin is averaging around 500,000 new holders per day, positioning it to potentially surpass Ethereum’s approximately 137 million holders by the end of 2024.

However, the analyst notes that this exponential growth could slow down, pushing the estimated crossover date to early 2025.

Despite this possibility, the rising number of Toncoin holders indicates strong momentum.

Data from IntoTheBlock reveals that the holding time of TON has increased by 249% in the last month, signaling investor confidence and a bullish outlook.

This increase in holding time reflects a tendency among investors to retain their assets longer, suggesting optimism regarding TON’s future.

Furthermore, large investors, often referred to as whales, have been actively accumulating TON tokens.

IntoTheBlock’s data shows a 15,000% increase in the netflow of large holders over the past month, indicating a rise in the amount of TON acquired by significant investors.

Large holders are identified as those who possess over 0.1% of the token’s circulating supply.

Despite these positive trends, TON’s price currently faces resistance around the $5.28 mark.

If these trends persist, analysts believe a bullish breakout could be on the horizon for Toncoin.

While Ethereum’s user base continues to expand gradually, Toncoin’s accelerated growth and investor accumulation suggest a potentially pivotal shift in the user landscape.

At the time of reporting, the Ethereum price was $2,631.01, and the Toncoin price was $5.05.