Tron [TRX] has had a rollercoaster of a year, with several developments from the Tron Foundation as well as multiple price fluctuations on the charts. The latest news from the Tron roster however, was wildly celebrated by the TRX community after it was revealed that the Tron’s block height had crossed the 10 million threshold. Tronscan, a Tron blockchain analyzer, announced the same and tweeted,
“#TRON block height has exceeded 10 million! A huge milestone for @Tronfoundation
According to #TRONSCAN, TRON block height has reached 10,010,680
TRON ecosystem has developed rapidly and continues to make efforts to decentralize the web.”
At press time, the block height was at 10016633 with 1405 online nodes. The current maximum transactions per second was 1932421 TPS. The 2-week transaction chart further added that the number was at a two-week peak with 1.932 million transactions.
Tron’s block height had breached the 9 million mark 34 days back, as the company was focused on being a major player in the DApp market, competing with other bigwigs such as Ethereum [ETH] and EOS. One of the main reasons for Tron’s recent uptrend has been the launch of Tron’s very own decentralized exchange, TRXMarket, which allowed the community to view Tron as a more viable investment option.
The new milestone comes in the wake of a bull run during which the Justin Sun-led cryptocurrency’s price has shot up by more than 5 percent. Tron’s march forward also involved news about its major acquisition, BitTorrent. The company had announced that the fifth BitTorrent token [BTT] airdrop would take place on 11 June, following which the price of BTT took a hit. In a tweet, BitTorrent Inc. had said,
“Are you ready for our 5th #airdrop? ☄️ On June 11th at 00:00 UTC we will reward TRON $TRX holders with 990,000,000 $BTT. Learn more about our airdrop program, and the exchanges & wallets supporting it!”
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Top Losers: Ethereum, XRP, and EOS bleed as crypto-market follows Bitcoin’s lead
The cryptocurrency market has been enjoying an unprecedented bull run over the past few months, a trend that reached its apex when Bitcoin briefly touched the $13,000 mark on Binance. However, on June 27, the market witnessed a trend reversal, with the bears returning to the world of digital assets.
Apart from Bitcoin’s price dropping by over 5% in an hour, popular altcoins like Ethereum, XRP and EOS also suffered a hit in value, with the bears ravaging all coins in the top ten cryptocurrencies club.
At the time of writing, Ethereum had fallen from $331.39 to $321.52 within an hour. This whopping 9.87 percent drop contributed to its market cap settling at $34.35 billion. The second largest cryptocurrency held a 24-hour trading volume of $106.66 million, a decent amount when compared to its figures during the bear market.
A majority of the volume was held by DOBI Exchange, a popular cryptocurrency exchange which controlled $636.38 million of all ETH trade. DOBI was followed by Huobi Global, with a 3.3 percent hold on all Ethereum transaction volumes.
The next altcoin to be affected by the sudden bear market was XRP, which fell by 6.67 percent in the hourly cycle. At press time, XRP was trading at $0.42, a far cry from the $0.47 it was trading at 24 hours ago. The cryptocurrency had a market cap of $18.22 billion and a 24-hour trading volume of $3.27 billion. BW.com, a relatively unknown cryptocurrency platform, controlled a majority of XRP trade with $232.13 million in ETH trading volume.
EOS was the third most affected by the bears’ attack, as the cryptocurrency fell by 3.41 percent in 50 minutes. EOS was trading at $6.446, with a market cap of $5.97 billion. The $5.29 billion trading volume was majorly split between LBank and Huobi Global, both of which recorded 9.48 percent and 5.75 percent in EOS trading volume, respectively.
The sudden market crash was speculated to be a major correction of prices after a sustained period of bullish rise by the coins. This fall coincided with predictions made by popular analysts and traders who had previously claimed that Bitcoin and the rest of the market will go through more bear runs, before they reach their all-time highs.
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