Tron, one of the top three dapp blockchains along with EOS and Ethereum, has had a very impressive first quarter according to its founder and CEO Justin Sun. Sun tweeted some figures that he got through dapp.com about the total transaction value of the blockchain network he leads. The numbers are quite astounding when looked at from an outside perspective, but are they worth getting excited about?
Dapp.com data shows a massive increase in volume, but not across the board
The total transaction volume on #TRON was very impressive in Q1. It once surpassed $91 million on March 15, which was way beyond the historical highest record of #Ethereum and #EOS dapps. #TRX $TRX pic.twitter.com/O2XGJwYii1
— Justin Sun (@justinsuntron) May 14, 2019
The data from the tweet indicates that the transaction volume has been steadily increasing month by month, with March completely overshadowing previous months with a 400% jump in transaction volume. The number of transactions doubled, which mean each transaction was worth about twice as much. That is despite having less active users than in each of the previous months in the first quarter.
Sun has long talked about how Tron is the perfect blockchain technology for dapps, and the market seems to be putting its faith in his project. Thanks to the enormous faith the community has put in, the 15th of March managed to be a stand out day for Tron where it had a higher transaction value than both EOS’ and Ethereum’s historical highs. The latest number, which Sun says surpassed 91 million US dollars is, in fact, higher than Tron’s very own monthly volume in January.
Smart acquisitions and partnership driving growth
Many in the industry think that the intelligent acquisitions and partnerships that Sun has engineered are helping the blockchain company come out on top of the dapp war. The purchase of BitTorrent and the subsequent ICO seems to have rejuvenated Tron’s hope among the community.
The addition of BitTorrent Tokens onto the Tron network and with that the addition of potentially hundreds of millions of users who will migrate due to BitTorrent’s popularity could see Tron become an overnight sensation.
While some of the sheens might have worn off due to mistakes made by Justin Sun, such as the Tesla giveaway incident and the Liverpool partnership mishap, the only part of a business that matters is the fundamentals. So as long as Justin Sun continues to innovate and make things easier and better for dapp developers, they will continue to flock to his blockchain.
Once the integration with BTT gets done in full, we could be seeing the emergence of a new, Web3.0 media powerhouse. Tron, along with Binance, could be the new heralds of Web 3.0 in the same way Facebook and Google were the heralds of the second wave of the web.
Consequently, it seems no matter whatever the critics keep saying, Justin Sun has managed to create a blockchain that has got developers excited and the community on the edge of their seats – and more importantly, the market is starting to notice. As we write this, TRX trades at 0.029 after surging by 11.5% in the last 24 hours.
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.