TON hits record transaction highs post-Durov arrest while token price plummets 30%
The 7-day moving average (7DMA) of daily transactions on the TON network has increased by 160% since the Telegram founder was arrested.The following is an excerpt from The Block’s Data and Insights newsletter.
The 7-day moving average (7DMA) of daily transactions on the TON network has reached a new all-time high. The network saw an all-time high of 8.68 million transactions on Aug. 31, surpassing the previous record of 8.56 million from Jan. 17.
Throughout the past week, this figure has continued to increase, reaching upwards of 10 million transactions on Friday. This figure has now increased by over 160% since Durov was arrested.
The 7-day moving average (7DMA) of the daily number of active addresses on the TON network has also seen a record high. As of Friday, the TON network has seen about 701,800 active addresses. This represents a 6% increase compared to the previous Friday.
However, unlike the network activity, the price of the TON token itself has not responded well to Pavel’s arrest. The TON token is down over 30% since the incident.
While poor general market conditions may have played a role in this downturn as well, the effects of the arrest cannot be discounted as TON fell by roughly 20% in the three hours following the news.
This is an excerpt from The Block's Data Insights newsletter . Dig into the numbers making up the industry's most thought-provoking trends.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitget Will List Shoggoth (SHOGGOTH) in the Innovation, AI and Meme Zone!
We are thrilled to announce that Shoggoth (SHOGGOTH) will be listed in the Innovation, AI and Meme Zone. Check out the details below: Deposit Available: Opened Trading Available: 15 November 2024, 13:00 (UTC) Withdrawal Available: 16 November 2024, 14:00 (UTC) Spot Trading Link: SHOGGOTH/USDT Intro
0% fee EUR deposit — Share 1 million USDT!
First come, first served: Users can earn up to 25% rebate in USDT when depositing at least $200 worth of EUR via bank deposit with 0% fees! Join Promotion period: November 15, 15:59:59 – December 14, 15:59:59 (UTC) Rules Register using the Join button. Deposit at least $200 worth of EUR via bank de
Don’t be delusional: Decentralization doesn’t compensate for regulation