Following Bitcoin’s impressive performance that saw the number one cryptocurrency landing slightly below the 9,000 US dollar mark, altcoins and other digital currencies were set to reap big from the developments. In the category of altcoins, Tron (TRX) has been leading the rise in the market following the recent conditions firmly.
The price of the Justin Sun-led virtual currency skyrocketed by 18.191% in the last seven days following Justin Sun’s teaser of an imminent big reveal. In his usual manner, Tron’s CEO promised in a tweet dated 1st June 2019 concerning a fantastic project that involves Tron and BitTorrent and has Tron owning 70 percent of the deal.
Justin Sun’s tweet read:
— Justin Sun (@justinsuntron) June 1, 2019
Despite many blockchain and crypto analysts dismissing the announcement as unnecessary hype that is aimed to enticing buyers and investors to buy Tron TRX without any hardcore reason to point to, Tron prices pushed ahead. Tron, the master marketing blockchain company managed to accumulate a double-digit price appreciation driving the altcoin to join the top 10 cryptocurrencies in the market with just two tweets.
But that all has changed today, as the Sun-led crypto is down by more than 8% within only 24 hours of the period now. Monday has just started, so let’s see if the red numbers intensify or Justin Sun throws an appealing announcement out in real and gets TRX price recovered.
Over the past year, Tron DApps have seen a sharp rise in popularity, with recent findings showing that an average active user spends around 102 US dollars on average on DApps every day. Besides the money spent on the Decentralized Applications, the market has been experiencing several DApps being built on the Tron platform.
It is no secret anymore that Tron (TRX) is now a serious competitor of EOS and Ethereum when it comes to the development of decentralized applications and the number of transactions being made per second.
According to one of the popular dapp analytics platforms, RatingDapp, that offers factual market analytics, dapp data, and user insights for over 1,500 dapps, Tron’s weekly transaction volume has witnessed a massive spike.
As per the information gathered by RatingDapp, Tron TRX has debuted 55 new DApps during the last week of May bringing the total number of DApps on the platform to stand at about 447.
It has had a positive effect on Tron’s DApps as it has assisted Tron’s weekly transaction volume of about 180 million US dollars to surpass that of Ethereum and EOS that records a weekly transaction volume of 24 and 102 million US dollars respectively.
Tron DApps Experiences a huge User Advancement
Following this week’s developments done by Dapp_Review regarding DApp technology, Tron managed to add 11 DApps in the market making up 37 percent of all new DApps that have been introduced by all the blockchain DApp platforms in the market.
A tweet made by Misha Lederman dated 3rd June 2019, reads:
— Misha Lederman (@mishalederman) June 3, 2019
Tron’s preferred platform appears to have a significant advantage in comparison to its rivals. By having a massive number of transactions per second, Tron is starting to catch the eye of dapp creators and developers luring them away from the competitors such as Ethereum and EOS.
Tron (TRX) Price Prediction and Conclusion
With Tron’s digital coin, TRX, achieving the significant gains in the last couple of weeks, investors and traders are transferring from other competitive digital currencies to TRX. From the look of things, Tron’s CEO and founder, Justin Sun’s tweets are everything to go by as they are taken seriously by investors and traders in the crypto market.
But with such influence comes with responsibilities and consequences as well. Justin Sun has to deliver on every hype he gives to the market achieving the market’s expectations. As noted earlier, today is the day he has to send the real and impactful news out.
But as it stands right now, it is still impossible to give a robust analysis that Tron (TRX) will be closing 2019 with the price value of 1 US dollar per coin.
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.