If we look at the first month of this year, the reports are kind of scary in general for almost all of the digital currencies followers. Where bears had continued to tighten their grip on the major cryptocurrencies one day or the another, genuinely testing the faith they have had develop within their communities. When it comes to Tron though, the matter has not been the same for the 8th largest cryptocurrency in the world, in many regards.
It’s not that the Sun-led cryptocurrency completely saved itself from getting affected from the bearings, but the effect it has had on Tron is nothing compared to what it had on the top 10 cryptocurrencies of the crypto-sphere.
In fact, Tron is the only digital currency in the top 10 list which has had a significant positive ride in the past month. Tron managed to gain 35% in the meantime where other giants of the market struggled.
Compared to Tron, Bitcoin dropped 9%, Ethereum lost 23%, XRP fell 14%, EOS dropped down by 12%, Litecoin managed to rise by 1%, Stellar dipped 29%, and Bitcoin SV lost 29%. In the course of its gains, Tron also managed to secure the 6th spot, temporarily, leaving Litecoin and Tether behind.
To talk about the developments and accomplishments which caused Tron to secure such magnificent results during the time when all other major cryptocurrency struggled, the first thing that outshines all is the Dapps influx.
The lucrative offers it ensures such as no GAS fees and higher TPS (Transaction Per Second) have caught the attention of the Dapps creators who were getting sick of the overcrowding on the Ethereum platform. Because of this, a considerable number of the Dapps moved onto the Tron Network along with six applications which are rating in the top 10 at the moment.
On the other hand, the BTT token of the Tron’s acquired BitTorrent is also one of the favorite gossips of the sphere. Tron’s Project Atlas looks promising to encourage seeding on the BitTorrent network, which has a massive base of 100 million, by linking it with BTT token which is hosted on the Tron network and will serve as the payment instrument on the Torrent Network. Tron hopes to increase its adoption further and attract more famous applications to move onto the network.
Can Tron maintain its magnificent stride?
Yes, Why Not? Having Justin Sun as a CEO, whom energetic marketing skills of keeping the community well informed about the upgrades and potential partnerships through his timely tweets on twitter won’t just let the hype subside. Also, there is massive support around for Tron no matter if it’s on Twitter, Telegram or Reddit.
And of course, selling the BTT token on the Binance Launchpad in a record 14 minute, raising over 7 million dollars is not something you can ignore easily.
There were lots of negativity about the project when it started, many people were accusing it to be a scam, but over the period of time, they have changed their minds now. Interestingly, the prominent rating agency Weiss Crypto rating, who was among those haters, also confessed that Tron truly has become as one of the most popular currencies in the world, which undoubtedly negate their initial opinions about the project.
Image courtesy of Pixabay.