Tron, the eleventh largest cryptocurrency on CoinMarketCap might have lost its position in the list of top 10 cryptocurrencies but is adding new feathers to its cap every day. Tron Foundation, led by its founder and CEO Justin Sun, has been performing exceedingly well when it comes to DApps. However, this time, the Tron mainnet marked a milestone as it reached 2.5 million accounts.
Misha Lederman, a prominent proponent of the Tron community, announced the development on his Twitter handle. Lederman said that there were 2,500,133 user accounts on Tron’s mainnet since its launch in June 2018. He tweeted,
The total number of accounts on #TRON MainNet have exceeded 2.5 million and the block height has already reached 8341950 with 1194 online nodes. Go #TRON. #TRX $TRX @justinsuntron @Tronfoundation pic.twitter.com/38VBYHJOik
— TRONSCAN (@TRONSCAN_ORG) 13 April 2019
The proponent also followed up with another tweet to inform the community that Tron had produced more blocks than Ethereum [ETH], its main competition. Lederman said that Tron had produced 8.3 million blocks since its launch in 2018, while Ethereum, despite having the advantage of starting early in 2015, had only 7.5 million blocks.
Tron has been moving forward with its DApps development and evolving ecosystem to prove itself. Recently, Travala.com, a renowned blockchain travel platform, announced that they will be accepting TRX token for booking hotels across the world. The number of hotels was above 500,000, which hinted at a massive adoption push for the TRX token. Travala said:
“Use TRX to book 550,000+ hotels worldwide with an average saving of 15% on http://Travala.com Get further savings up to 10% off the already amazing prices with our SMART program.”
According to Today’s Gazette, Tron is the tenth cryptocurrency to be adopted by the platform after Bitcoin, Litecoin, Ethereum, and XRP, among others. At press time, Tron’s price was dipping and had fallen by 1.14% over the past day. Tron was valued at $0.0264, with a market cap of $1.76 billion.
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Bitcoin SV surges by 6.84% in an hour; community speculates massive behind-the-scenes pump
The cryptocurrency market has witnessed major price hikes over the past few weeks, with Craig Wright’s Bitcoin SV emerging as the market’s unlikely performer. The Craig Wright-backed virtual asset, which is supposed to follow Satoshi Nakamoto’s original idea, outperformed every top 10 cryptocurrency over the past week, recording a growth rate of 22.86%.
At press time, the coin had recorded a price hike of 6.84% over the hour, with the coin valued at $228. The coin was traded the highest on CoinBene exchange, where the trading pair of BCHSV/USDT gathered a volume of $96 million. The exchange was closely followed by ZBG exchange, where the trade accounted for 13.62% of the entire trading volume.
According to the chart released by Trading View, a massive green candlestick can be observed. The chart also indicated that at press time, the candles were charting over the Moving Average [MA]. This suggested that extremely high trading volumes were pegged with Bitcoin SV.
Many in the community have speculated that the surge might be due to a massive dump of the coin in the market, after the token hit stagnation since pumping by more than 247 percent recently. The aforementioned price pump pushed the price of the coin from $53.22 to $250.
Previously, it has been suggested that the major pump witnessed within the Bitcoin SV ecosystem might be laden with market manipulation, implying the participation of illicit entities in the conduct of a “pseudo-pump” of BSV’s market. Further, the de-listing of BSV by major exchanges such as Binance may have made it more susceptible to sudden price movements, according to some.
At press time, Bitcoin SV was positioned 8th on the cryptocurrency charts. Despite the pump however, historical trends suggest a major price correction may be in the offing too.
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