Toncoin (TON) is on track to surpass Ethereum (ETH) in user base by the end of 2024. This growth stems from a remarkable increase in its holder count and user engagement. Recent analyses reveal that TON could outpace Ethereum in total holders as early as December 20, 2024. Currently, Toncoin has approximately 112 million holders, while Ethereum boasts around 137 million.
Rapid Growth in Holder Count
Toncoin has been adding about 500,000 new holders daily. This impressive rate has led to a significant uptick in its total addresses. Analysts note that while the current trend suggests a potential crossover by late December, some caution that this timeline might extend to February 3, 2025. This adjustment reflects the possibility of a slowdown in growth.
Increased Holding Period and Whale Accumulation
In addition to the rising holder count, the average holding period for Toncoin has surged by 249% over the past month. Investors are demonstrating greater optimism by holding their assets longer. Furthermore, large investors, often referred to as whales, have increased their accumulation of TON. Reports indicate a staggering rise of over 15,000% in netflow among these large holders. This trend signals a bullish sentiment that may lead to further price rallies.
Price Dynamics and Market Sentiment
Currently, Toncoin trades at approximately $5.01 and faces resistance at $5.26. If the trend of increased holding time and whale accumulation continues, it could help Toncoin break this resistance level. Analysts predict potential price targets around $5.91 and possibly even $6.82 if upward momentum persists.
Conversely, market sentiment can shift quickly. Should selling pressure intensify, Toncoin’s price may struggle to break past $5.26. In such a scenario, it could trend downward toward the support level at $4.44.
Comparison with Ethereum
While Ethereum continues to grow, its pace is relatively slower compared to Toncoin’s rapid expansion. Much of Ethereum’s user activity has migrated to layer 2 solutions, which further complicates its growth trajectory. In contrast, Toncoin’s unique integration with Telegram positions it favorably for mass adoption among new users entering the cryptocurrency space.
As Toncoin’s growth accelerates, its race to outpace Ethereum may shape the broader cryptocurrency landscape in the coming months.
