Toncoin (TON), the native digital asset of The Open Network, is in the spotlight with its latest parabolic move in key on-chain metrics, challenging the dominance of Bitcoin (BTC). In the last 24 hours, the price of TON jumped by 5.3 percent, reaching US$7.24, indicating a significant increase in market activity and investor interest. Significant Increase in Transfer Volume on Toncoin. According to the well-known data analytics platform, CryptoQuant, TON transfer volume ranges from US$5 billion to US$10 billion. To put things into perspective, Bitcoin, as a major cryptocurrency, has an average daily transfer volume of around US$50 billion. U Today reports, this comparison shows that TON captures about 10 percent of Bitcoin's transfer volume capacity, a remarkable achievement for a project that launched just four years ago. Additionally, TON witnessed a steady and substantial increase in the number of its hodlers. On-chain data shows a 10-fold increase in token holders over the past year, jumping from 2.9 million to the current number of 32 million. This exponential increase in adoption underscores the growing interest in the TON ecosystem and its potential applications.

The influx of new holders shows that more users and investors recognize Toncoin's value and potential, further strengthening its position in the crypto market. Sharply Increased Whale Activity

The TON blockchain also saw a significant spike in activity from large investors, commonly called whales.

Previously, whale activity for Toncoin jumped by 376 percent. This surge in whale activity shows that large investors are increasingly confident in TON's long-term prospects, contributing to its growing market influence. At the time of this writing, TON's market capitalization has grown to US$17.7 billion, surpassing Cardano's (ADA) market capitalization of US$14 billion. This milestone places TON among the top contenders in the fast-paced and increasingly confident crypto market.