Tron, the 11th favorite cryptocurrency in the market (in terms of market cap), is trending negatively at the moment. If we look at the data present at the coinmarketcap.com, Tron, after seeing a 2.5% downtrend in the past 24 hours, is available for trade at $0.0235.
The current trends of Tron’s token in the market are likely to change soon as the crypto is predicted by many of the digital space’s experts, to ride the bulls in the comings days thereupon hitting the $0.2 mark by the end of 2020 (yes, that’s a long term prediction).
The primary reason behind a crypto’s price statistics depends upon the project’s current performance combined with how it has performed previously. It is no news now (almost everyone in the crypto space knows it already) that recently, Tron, the fastest growing ecosystem, hit a record 2.7M user accounts on the network.
Furthermore, last week, the crypto’s ecosystem saw a whopping 33% growth in its 24-hour trading volume as a result of the addition of 39 new dApps in a single week on the blockchain. Additionally, Tron smart contracts are also nearing 1000, as they are reported to be 877 already.
Tron’s Online Nodes Increasing Significantly
A couple of days ago, on May 8th, Tron landed another significant achievement because of the blockchain’s increased stability and growing global reach. This time in terms of “its highest number of online nodes in many months.”
Misha Lederman, the co-founder of IAmDecentralized.com and renowned supporter as well as elected advisor of Tron, announced via his Twitter handle that in merely two days Tron’s online nodes have increased from 1100 to 1357, making it to the highest level in eight months. Misha tweeted:
Tron Surpasses Bitcoin in Terms of All-time Transactions
Tron, since its inception is mostly being considered as the competitor of Ethereum in the crypto space. Interestingly, Justin sun led crypto just accomplished another milestone that puts it in front of the Bitcoin, famously regarded as the compass of the cryptocurrencies.
As reported by TronScan (a blockchain explorer that allows the crypto community to search the Tron Blockchain for transactions, accounts, tokens, and nodes), the total number of transactions recorded on the blockchain platform exceeds the total number of transactions documented on the Bitcoin network.
For a blockchain company that is merely a year old to have attained such a feat against the crypto which is not only existing for a decade but is the mother of all cryptocurrencies surely is a remarkable achievement as acknowledged by the Justin Sun himself.
As things stand, the price of Tron’s token, TRX, seems to be not reflecting the value it boasts but things might change soon given that the Sun-led blockchain keeps building as it has been lately. Let’s see how things unfold.
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.