Dapp Success Helps TRON (TRX) Surge in Value

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Binance Research, the crypto trading research arm of Binance, has revealed that Tron is going to have substantial growth ahead. The interest shown in the currency has surged recently, and the number of dapps has risen tremendously, to 402 in total. This puts Tron ahead of Ethereum and EOS and positions it as the ‘de facto’ leader in dapps.

Adding its stable position in the top 10 cryptocurrencies by market cap, it has been drawing the attention of a lot of traders in recent weeks. Binance Research showed that the last 24 hours of trading had shown Tron TRX to be the most influential cryptocurrency with the largest number of users.  This is all due to it being used for a wide variety of purposes.

Variety is key to TRX use cases

TRX currently has over 100 million transactions that are being used for a wide variety of purposes. One important use it the provisioning of services via the Tron network as in the tweet above. TRONBet is the most active dapp on the Tron market right now, and the services are all provision via the Tron network using TRX. There is also the execution of small smart contracts and the issuance of TRX tokens.

In short, Tron is being used for more and more reasons and not as a normal cryptocurrency only. It has managed to shift the goalposts more in its short time than Ethereum has since 2015. The reason Tron has been able to do this is because of the hard work of the CEO in securing meaningful partnerships and eyeing smart mergers. The BitTorrent acquisition was seen as a phenomenal coup for the company by everyone involved in the industry. It will change the way numbers are reported by order of magnitude.

BitTorrent and Stablecoins change the game

Once BitTorrent and its BTT token are on the network, Tron will have a userbase int he hundreds of millions. This will give the company a reach that no other cryptocurrency currently has. It will also cement its place as the go-to blockchain for the entertainment industry. Having sewn up gaming dapps with its negligible transaction fees and fast network, and now the entertainment industry with BitTorrent, the only way forward is getting a regular means of payment between various actors in its network.

Pursuant to that ideology of getting talent paid, it has shifted the focus it has with regards to cryptocurrencies. Tron is now backing more and more stablecoins. The first stable coin to partner with Tron and merge with the Tron mainnet is Tether USDT. The dollar backed stablecoin will allow Tron users to deal with a fiat backed crypto that is tangibly valued. This will allow its soon to be massive userbase an easy way to get paid in real life as well as in the network.

However, the USDT swap has been going slower than initially expected, and the airdrop that was announced has been moved to May the 7th. Exchanges asked for more time to swap the coins so that they are ready when the airdrop finally hits.

Finally, security is being tightened, and this is giving a lot of users and traders more confidence in the long term success of the network. A blockchain startup called swarm is providing these security services and the result according to industry experts is a much more secure Tron.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Ali Raza: Experienced in web journalism and marketing, Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali's work has been published on a number of valuable publications.