- Tron continues to send jitters in the market; the target is to be the largest blockchain in industry.
- Tron rises two positions to become the 11th crypto by market capitalization.
Tron (TRX) is steadily becoming a force to be reckoned with in the cryptocurrency market. The blockchain platform aims at becoming the largest decentralized open-source protocol in the crypto space. The launch of the mainnet mid this year put Tron at the forefront of competition. Moreover, the Tron Virtual Machine (TVM) has come to threaten the existence of legacy platforms like Ethereum (ETH).
The network’s daily transaction volume recently surpassed that of Ethereum platform. Tron clocked 599,354 transactions on October 18 while Ethereum recorded 565,791. The Tron explorer also sent a tweet detailing that 77% of all the transactions were smart contract-based. This positive indication is likely due to the recently launched TRONbet. The new platform allows users to earn TRX while playing, besides the founder Justin Sun said that 70 million TRX had already been given to winners.
Tron is currently the 11th largest cryptocurrency market by market capitalization. Ethereum, on the other hand, is the 2nd largest crypto. Tron has a lot of confidence going head to head to with a legacy crypto like Ethereum. However, this should tell you how the future is likely to play out. Within a few months of operating on its own mainnet Tron is sending jitters in the market. Justin Sun is known to be very bullish on Tron; a couple of months ago he said that Tron will beat ETH and XRP. At the time TRX was in the 13th position but now it is heading for the top ten position.
The bullish Justin Sun said that “It’s just The Beginning” while referring to the daily transaction volume. He said that the achievements that Tron has had are nothing compared to what the platform is going to do in the near future.
Tron (TRX) price overview
At press time, Tron is trading at $0.023 after a 2.2% decline in the last 24 hours. It has a 24-hour trading volume of $85 million while its market capitalization currently stands at $1.5 million.