- Tron (TRX)-based decentralized applications (dApps) have become increasingly popular.
- However, the usefulness of these dApps is questionable as most are related to games and gambling.
Bitcoin (BTC) and Cryptoasset Market Making a Recovery
A lot of the news in recent times, especially with the end of the crypto winter that began last year, has been focused on Bitcoin. The number one coin has had a pretty remarkable journey since early April when it began its surge and became one of the most profitable assets in the financial world, even outside of cryptocurrency. Despite several pullbacks that have happened since the bear market ended and the price rally began, a lot of attention has been on Bitcoin with countless analyses and forecasts.
Apart from Bitcoin, another asset that has benefited is the Binance Coin (BNB) which by most standards, is still 2019’s best performer, beating the Bitcoin performance margin significantly. However, one asset many may have missed is Tron [TRX].
TRX Poised to Take Over
DApp Review recently disclosed the successes recorded by TRON, judging by its 24-hour volume. The Tron Foundation’s Chief Executive Officer [CEO] announced this to the world through a recent tweet. Justin Sun’s post on Twitter said:
“According to @dapp_review, #TRON #Dapp 24h volume has reached $11.8M (355M #TRX) which already surpassed that of #ETH and #EOS. #TRON onward.”
Of all the DApps powered by the Tron blockchain, the first 12 of them pulled in more than 42,000 users within a 24-hour series. It also disclosed that unlike before when there were a lot more gambling apps than other categories, the Tron blockchain had more gaming applications this time. Of the $11.8 generated as earlier stated, Tronbet was responsible for more than $8.9 million which is at least 75 percent of the full figure.
Tron, EOS, Ethereum Compete to Build Scalable dApps
Before Tron “took over”, EOS ruled over the DApps kingdom and still has a very high number of users, surpassing Tron and even Ethereum. EOS has over 120,000 users of DApps on its own blockchain but even with intimidating numbers, the EOS volume for the same period stands at $9.4 million.
Ethereum has a far less number than EOS with only 12,000 DApp users, a lot less than both Tron and EOS. The DApps here had a 24-hour volume of $4.5 million with more than $1.7 of that brought in by FCK.
Tron and Its Other Feats
The Tron Foundation seems to be on a roll as recently, it announced that Tron had been integrated with the Loom network, which is a Layer 2 project that allows for a high level of scalability. An excerpt from the announcement disclosed Tron’s continued collaborations saying:
“Today we’re proud to announce that the TRON integration is officially live making this the second chain we’ve integrated into PlasmaChain after Ethereum.”
Furthermore, it was widely reported that Tron had more significant growth than EOS and Ethereum. In the given period, EOS had 9,000 new users while Ethereum had 25,000. Tron significantly surpassed both of them as it was able to add a whopping 60,000 users.
According to CoinMarketCap, at the time of writing, TRX is the 11th largest digital asset by market capitalization, valued at $0.033085 with a market cap of $2.21 billion.
Like what you read? Give us one like or share it to your friends