Tron, the eleventh largest coin on CoinMarketCap, has been fighting the bears in the market, despite the larger crypto-market’s positive price movements. The Tron Foundation and the BitTorrent [BTT] team had been updating the community about developments in the ecosystem. On May 15, Tron managed to register a new block height and surpass the transactions of Ethereum [ETH] and EOS DApps.
Misha Lederman, a prominent Tron proponent, announced that the coin surpassed 100k daily active users, via his Twitter handle. Lederman shared,
“#TRON just surpassed 100k daily active users on its DApp ecosystem for the first time in #TRX blockchain’s history!”
Tron DApp noted 102,497 daily active users and the DApps live in the DApp ecosystem were recorded to be 434. The USD volume was noted to be $18.3 million and 24-hour transactions were reported to be 1.4 million transactions.
The proponent further added,
“100k users is a major achievement for TRON since TVM launch Oct 2018, but will be a blimp on the chart in the coming months as more sophisticated DApps attract #TRX users in the millions”
However, these updates were failing to contribute to the price of TRX as it remained at $0.2604, with a market cap of $1.74 billion. The 24-hour trading volume of the coin was noted to be $915 million, after it fell by 10.11% over the past day. Over the past seven days, the coin noted a growth of 11.27% over, but fell by 1.36% in an hour.
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Bitcoin’s censorship resistance, freedom make it a game changer in the economic industry
Over the years, the global economic industry has witnessed significant changes. However, no change has been more significant or essential than the one introduced by the concept of virtual assets or Bitcoin. Today, Bitcoin and other virtual currencies are almost as essential as fiat money and despite the fact that digital assets have not reached worldwide adoption, the pace of growth has been substantial.
In a recent panel discussion, Jedidiah Taylor, CEO and Founder of Decent.Bet, the smart contract-based sports betting platform, stated that the idea of Bitcoin and blockchain technology projected a perspective of freedom and honesty which allowed individuals to have direct control over their own capital, without any oversight supervision from financial institutions.
The sentiment was followed by Nico De Jonghe, Founder and CEO of NDJ Investment Group, who added that the threat of decentralized assets loomed the largest over centralized institutions like banks, who were worried of the future prospects offered by Bitcoin and its impact on the long-term financial situation.
Tone Vays, a reputable analyst and Bitcoin proponent, opined and stated that Bitcoin’s biggest strength was the fact that it was completely “unconfiscatable” and that one’s BTC is completely safe if it is protected and secured with attention. The characteristic of censorship-resistant value transfer is also an absolute game-changer for Bitcoin, allowing it to competitively exist in the financial system.
The value of Bitcoin has often been criticized in the past, but its valuation has consistently proven its worth. In fact, Bitcoin has grown by more than 150 percent in 2019.
At press time, Bitcoin was priced at $11,371, with a market capitalization of over $202.18 billion. The staggering valuation of an asset that was unheard of 10 years ago, further underlines the potential of Bitcoin in the current market scenario and for the future economies.
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