TON surpasses ETH in daily active addresses but theres more to the story

June 13 Update, 08:40 am UTC: The latest on TON’s active addresses.
The Open Network (TON) blockchain has been seeing a surge in daily active addresses, surpassing Ethereum on most days this month.
Some experts see this as a potential “flippening” trend driven by TON’s connection to Telegram’s massive user base. However, it’s important to consider whether this data tells the whole story.
Delphi Digital pointed out TON’s steady growth, fueled by Telegram’s 900 million users, leading to more active addresses than Ethereum. They raised the question of whether TON’s growth can outpace Ethereum in the long run.
Data from Artemis, which defines Daily Active Addresses (DAA) as unique wallets conducting transactions daily on a blockchain, shows TON and Ethereum in a close race since May 17, with TON taking the lead since the beginning of June. TON has surpassed Ethereum on 10 out of 11 days this month, hitting a record of 568,300 DAAs on June 3.
Comparatively, Ethereum has not seen such high numbers since September 13, 2023, according to Artemis data.
However, it’s worth noting that Ethereum’s user activity has shifted to Layer 2 scaling solutions, making it a less straightforward comparison. For instance, top Ethereum Layer 2s like Arbitrum, Base, and Optimism recorded a combined 1.3 million daily active addresses on June 11 alone.
Vitalik Buterin, Ethereum’s co-founder, has supported the use of L2s to scale the main blockchain, as part of the project’s roadmap.
TON’s recent uptick in network activity could be attributed to Telegram’s integration of the Tether stablecoin on TON and the 35 million users on Notcoin, a platform launched five months ago. Notcoin offers a “tap-to-earn” token for completing social challenges.
Additionally, Telegram introduced Telegram Stars, an in-app currency for digital purchases, on June 6. The platform’s trading bots have also been popular for crypto transactions.
In conclusion, the rise in TON’s active addresses signals a potential shift in the blockchain landscape, driven by its ties to Telegram and growing user base.