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Tron DApp Weekly Report: Tron’s 24-hour transaction volume and trading volume doubles as DApps’ number exceeds 300

Namrata Shukla



Tron DApp Weekly Report: Tron's 24-hour transaction volume and trading volume doubles as the DApps number exceed 300
Source: Pixabay

Tron has been in a tough spot in the cryptocurrency market, as it has been fighting the bear for the past few days. However, Tron foundation’s new initiatives and the communities’ support to its DApps has kept Tron moving forward. The DApp weekly report stated that Tron’s DApps number crossed 300, with more than 700 smart contracts.

Tron’s new DApps include mainly gaming and gambling application, which increased its Daily Average User [DAU] to 40,000 which was reportedly 10,000 more than last week. Tron’s 24-hour transaction volume along with trading volume doubled this week, giving it the much-need push to be relevant in the market. However, the biggest update in the Tron ecosystem is the launch of the TRC20-based Tether [USDT] stable coin.

Tron’s decentralized exchange, TRXMarket has been listed by CryptoCompare, a well known digital currency market website. Tron’s DApps also gained space on ICO Bench, a Russian website. The website has in-depth information about more than 5,000 initial public offerings [IPOs] and Tron’s listing on this website marked a developmental achievement for the foundation and its DApps.

The report highlighted two particular DApps that topped the user experience. The Tron Kingdom, a multi-player, multi-round strategy game, that made it to the top of the list. This game enables players to fight as the ruler against four kingdoms, where the users have to calculate hash power and pledge a command without the knowledge of the other players until the command has been realized. Tron’s smart contract is used to settle the disputed in the game and to conclude with a winner.

Traps, is the second multiplayer game, that has similarities to the game Snake, which took the second place. However, the game is more complicated than Snake and each session on the game lasts for 9 minutes and 50 seconds and the player with the largest cell wins the game.

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SEC delays VanEck Bitcoin ETF decision days after delaying Bitwise proposed rule change





SEC delays VanEck Bitcoin ETF decision days after delaying the Bitwise proposed rule change
Source: Unsplash

The Securities and Commission Exchange [SEC] has yet again delayed another Bitcoin ETF. This time around, the commission has decided to delay the VanEck Soldix Bitcoin ETF, one of the most awaited exchange-traded funds in the cryptocurrency community.

In the document released today, the exchange has asked for more comments on the proposed rule change and has also asked for further information on queries related to the exchange-traded fund. The commission stated that it has received 25 comments on the proposed rule change so far.  It stated,

“On January 30, 2019, Cboe BZX Exchange, Inc. […] filed with the Securities and Exchange Commission, […] a proposed rule change to list and trade shares of SolidX Bitcoin Shares issued by the VanEck SolidX Bitcoin Trust […] The proposed rule change was published for comment in the Federal Register on February 20, 2019.”

It further stated

“On March 29, 2019, pursuant to Section 19(b)(2) of the Act, the commission designated a longer period within which to approve the proposed rule change, disapprove the proposed rule change, or institute proceedings to determine whether to disapprove the proposed rule change.”

Notably, the main concerns of the commission continue to be market manipulation and the measure taken by the platform to protect its investors. The commission is currently seeking comments on 14 queries pertaining to the VanEck Bitcoin ETF.

This includes the views of the ‘commenters’ on whether the exchange has entered “into a surveillance-sharing agreement with a regulated market of significant size related to bitcoin?”, the relationship between the Bitcoin futures markets and the Bitcoin spot market, with the focus being price formation, the relationship between the Bitcoin futures market and the proposed Bitcoin ETF, and the commenters’ views “of the Exchange’s assertions that bitcoin is arguably less susceptible to manipulation than other commodities that underlie ETPs”.

Gabor Gurbacs, Director of Digital Assets Strategy with VanEck said on Twitter,

“The VanEck SolidX #Bitcoin #ETF decision has been postponed by the SEC. We continue the hard work towards better-regulated, safer and more liquid digital assets markets. Bitcoin is too big to ignore. Vires in numeris!”

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