- TON addresses were growing rapidly and would soon overtake Ethereum.
- Toncoin whales and institutional investors are contributing to the selling pressure.
Which coins between Ethereum [ETH] and toncoin [TON] Are there more possibilities? While both are considered attractive to investors, recent CryptoQuant analysis suggests that TON is likely to outperform ETH in terms of number of holders.
Maartunn's bold claim is based on the average growth rate that TON has maintained over the past few months. According to our analysis, TON gained an average of 500,000 new followers every day over the past four weeks.
If this pace continues, the network will overtake Ethereum towards the end of December.
However, Martun's analysis points out that the number of ETH holders may also increase, and the increase in TON holders may slow down.
How do TON and ETH addresses compare?
As of October 26th, the total number of TON addresses reached 113.71 million addresses. Of those, 93.18 million addresses had a balance, and the remaining 20.54 million addresses had no balance.
For context, just 12 months ago, TON had a total of 3.63 million addresses, an increase of 3,032% in total addresses.
Source: Into the Block
In comparison, Ethereum had a total of 309.32 million addresses as of October 26th. That's a huge improvement from just 12 months ago, when the total number of addresses was 270.35 million.
Growth compared to the same period last year was 14.42%. This means that TON addresses grew 210 times faster than Ethereum addresses.
As far as ownership statistics are concerned, historical intensive data reveals that the demand for Toncoin has decreased over the past 30 days. Whale's balance has declined from 32.63% on September 26th to 33.19% at the time of writing.
Source: Into the Block
Over the past four weeks, investor balances have decreased from 26.73% of supply to 25.51%. Finally, the TON supply held by the retail sector increased from 40.65% to 41.31% during the same period.
This confirmed that whales and investors were reducing their balances while retailers were saving.
Toncoin price trend summary
While most of the top coins are rising on the strength of September's bullish momentum, Toncoin's price trend has fallen to retest the September lows. It fell to $4.51 on October 25th, representing a 16% drop from its weekly high.
Source: TradingView
read toncoin book [TON] Price prediction for 2024-2025
TON's recent collapse has sparked a resurgence in demand, pushing the price up to $4.95 at the time of writing.
However, it also highlighted the fact that the cryptocurrency is undervalued and could attract buyers looking to buy at a discount.
