The TRON ecosystem has been seeing major success ever since the launch of its MainNet, nearly a year ago. Meanwhile, the number of TRON smart contracts continues to grow, as developers leave Ethereum in search of better, faster networks.
According to the TRON Foundation’s recent announcement, the number of TRON smart contracts has grown by 100 compared to the previous week. This puts the total number of smart contracts to 877. A similar surge has been noticed when it comes to the growth of TRON-based dApps.
The number of smart contracts has increased by 100 compared with last week, reaching 877. The rapid growth of the number of #Dapps has also brought a surge. The 24h trading volume on #TRON reached 505,000, up by nearly 33% from last week. #TRX $TRX https://t.co/7D5pfhbpEI
— TRON Foundation (@Tronfoundation) May 3, 2019
Subsequently, the report states that TRON’s daily trading volume exceeded $505,000, which is also a 33% increase compared to the week before. Evidently, TRON is advancing in all aspects, and if it continues at this pace — it is only a matter of time before the ecosystem sees its 1000th smart contract.
TRON marches along nicely
The 1000th smart contract will be a significant milestone for the less-than-a-year-old network, as it directly implies that developers are coming to test the ecosystem — and are choosing to stay.
As mentioned earlier, TRON has also seen a major increase in the number of dApps, with three new games and 39 gambling decentralized applications within a single week. The growth in the number of dApps is likely one of the major reasons why TRON trading volume surged as well, as using the dApps means making minor transactions with pretty much every move.
The ecosystem has seen additional moves this week, such as the TronLink wallet announcing the launch of TronLending Bank feature, which will allow users and projects to reduce costs by optimizing energy usage. The rental cost on TronLending Bank will be multiple times lower, which will allow users to save up more than ever before.
Then, there is the fact that TRON made multiple significant efforts in the area of security and safety by partnering up with Beijing’s Chainsguard. The Chainsguard team has a lot of experience with securing networks, as it worked with Ethereum and EOS on finding and fixing vulnerabilities in the past.
Finally, there is TRX itself, which has grown by 4.5% compared to the end of the previous week. The growth is likely a consequence of the increase in the number of dApps and trading volume, and it puts the coin’s price at $0.023639. Meanwhile, the project’s market cap sits at $1.58 billion, and the trading volume in the past 24 hours stands at $717.48 million.
The fact that TRX sits at the 11th spot on the list of largest cryptos by market cap with figures such as those is a clear confirmation that the market is seeing a recovery, and TRX is bound to follow. At the moment, the coin sees a slight price decline, at around 1.98% in the past 24 hours. However, reaching the 1,000th smart contract is bound to bring a lot more attention to the project, and will more likely allow its price to surge. Perhaps the Sun-led crypto might soon be able to test the resistance at $0.031.
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.