Is Ethereum’s User Base About to Be Overtaken?

A recent analysis from CryptoQuant hints at a potential shakeup in the cryptocurrency landscape, as one network is poised to eclipse Ethereum (ETH) in user count by the end of this year.

Projections suggest that this milestone may occur around December 20, propelled by rapid user growth.

Currently, Ethereum (ETH) has approximately 137 million users, while The Open Network (TON) has reached around 112 million. Over the past month, TON has been attracting an impressive average of 500,000 new users daily. If this momentum continues, it could surpass Ethereum’s total user base in the coming months.

However, analysts at CryptoQuant caution that two key factors might influence this timeline. First, there is a possibility of a slowdown in TON’s growth. If the growth rate decreases, projections indicate that the date for surpassing Ethereum could be postponed to February 3, 2025. Second, while Ethereum’s growth has stabilized, it continues to gain new users, which could further delay TON’s ascent.

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This rapid expansion in user numbers reflects the increasing adoption of The Open Network, initially developed by the Telegram team. CryptoQuant analysts believe that it is “only a matter of time” before TON overtakes Ethereum in total users.

Alexander Zdravkov