Tron [TRX] managed to maintain its 11th position on CoinMarketCap and has been fighting the bears for quite some time now. Tron Foundation and its efforts to promote the coin by having its DApps compete with Ethereum [ETH] and EOS was well-received by the community. The base of users using Tron DApps has increased multi-fold and as per the growth rate over the past eight weeks, Tron has beaten Ethereum [ETH] and EOS DApps.
Misha Lederman, a prominent proponent of Tron, informed the community about Tron’s growth rate and its competition over the past eight weeks. Tron managed to launch 167 new DApps, compared to 122 by Ethereum [ETH] and 81 by EOS. The data indicates a 68% growth in the Tron ecosystem over the past eight weeks.
“DApp Platforms Growth Rate over Past 8 Weeks @dapp_review:
#TRON: 167 new DApps – 68% growth
#ETH: 122 new DApps – 7% growth
#EOS: 81 new DApps – 18% growth”
He further added that the reason for the growth of DApps was the “lowest” cost for developers and the ease with which they could perform. Adding speed and scalability to this process gave Tron a lead in engaging users, he claimed.
The user base of gambling DApps is large and as per the foundation’s recent DApp weekly report, gambling DApps increased by 39 in a week’s time. This surge in DApps led to a rise in Tron DApps’ trading volumes; its 24-hour trading volume reached $505,000, a 33% growth since last week. DApps are benefiting Tron as its smart contract count reached 877, growing by 100 over the last week.
At press time, Tron was valued at $0.0231 with a market cap of $1.54 billion. The 24-hour trading volume of the coin was noted to be $655 million, as it plunged by 1.29% over the past day. Over the past seven days, Tron fell by 1.22% and continued to fall by 0.35% within the hour.
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Tron’s Justin Sun claims stablecoins will be key to cryptocurrency development
The Justin Sun-led Tron has been in the news multiple times recently, thanks to its regular updates and noticeable price hikes. The CEO has also played a very active role in promoting the cryptocurrency, as exhibited by his recent AMA on Periscope.
Sun focused on how the initial success with protocol governance in the Tron ecosystem paved the way for future developments in the blockchain. The CEO stated,
“Tron had 27 Super Representatives passing 17 new protocols out of which 10 were voted in and accepted. Tron is also the third blockchain after Ethereum to be associated with the stablecoin Tether.”
Justin Sun further opined that 2019 was the year of the stablecoins and that inked assets will be a key focal point when it comes to future developments. He believes that the stablecoin system is the ecosystem in which centralized finance will be taking off. Sun added,
“We will be collaborating with more parties to boost Tether USDT use cases in the TRX ecosystem.”
The Tron Foundation had launched Tether on the TRX blockchain in April to much fanfare, with Tron tweeting,
“Today #USDT is launched on TRON’s blockchain. $USDT is issued by @Tether_to on the #TRON network based on #TRC20 protocol. There will also be a total reward of 20 million $USDT for 100 days. $USDT will be fast, free and smart! #TRX #BTT”
This program was later postponed due to certain discrepancies that came to light post the Tether-Bitfinex episode. Another topic touched on by the Tron CEO was the much-celebrated BitTorrent, which has come a long way since its acquisition by Tron in 2018. Sun admitted that BitTorrent was ‘integral’ to the overall growth of Tron’s development cycle. BTT recently completed its fifth airdrop on June 11, right after the Tron blockchain had breached the 10 million mark in terms of block height. The BTT airdrop involved the transfer of close to a billion tokens which were sent as a reward to TRX holders.
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