Justin Sun Hints of a Possible Bull Run as Tron (TRX) Leads Ethereum in Daily Transaction Volume

Tron (TRX), one of the largest blockchain-based operating systems in the world, is currently doing well in the crypto space. Justin Sun, Tron’s CEO, hints of a bull run saying, “it’s just the beginning.”

Ethereum (ETH) Price Today – BTC / USD

Name Price24H (%)
Bitcoin (BTC)
$8,191.17
-1.92%
Ethereum (ETH)
$180.14
-3.41%

While in the eleventh slot according to the ranking by market cap, TRX consistently seeks to change the status quo in the crypto space by carving a space for itself among the top and preferred digital assets. In terms of daily transactions, TRX just led ETH, as confirmed by the figures on October 18 when TRX recorded an impressive 599,354 against Ethereum’s 565,791 transactions. This already put TRX ahead of ETH by a big margin.

TRON (TRX) Price Today – TRX / USD

Name Price24H (%)
Bitcoin (BTC)
$8,191.17
-1.92%
TRON (TRX)
$0.015707
-5.36%

The Upward Trend

On the same day (October 18), Tron network witnessed a spike in its transactions, which nearly reached 600,000. The day before, the network’s Explorer confirmed through a tweet that nearly 77% percent of the transactions emanated from smart contracts. With such vibrant activities taking place on its platform, the team behind the development of Tron network is confident of an imminent bullish trend. Recently, Tron network launched TRONbet, a gaming Dapp, which has greatly contributed to the tremendous upward growth in transactions. This follows the increased number of users on the platform to earn some TRX coins.

According to a similar tweet from Justin Sun, the network had already transferred almost 70 million TRX to winners on TRONbet. The gaming Dapp recorded 10,000 plays on the day of its launch and has hit 200 million TRX payouts, as of this writing.

Tron (TRX)—its journey to the current status

From the market cap perspective, TRX remains way behind ETH, which is the second largest crypto by market capitalization. However, TRX is evidently more aggressive in the daily transactions category, which signalizes a better future for the network. This is happening barely two months after Tron’s CEO tweeted that TRX would soon triumph over ETH and XRP.

Just two months ago, TRX was in the 13th slot according to CoinMarketCap. As of this writing, it claims the 11th slot, making it one of the largest cryptos in the market. Some of the recent activities that contributed to this boost include:

  • The launching of Tron Virtual Machine (TVM)
  • Migrating from ERC-20 to the MainNet
  • Listing on various exchanges

“Just the Beginning”

Just after TRX outdid ETH in terms of daily transactions, Justin Sun tweeted that TRX is the next big thing. He confided that the latest developments are just but the tip of an iceberg as many good things are bound to come from the Tron’s network. The network is nearly 80 times faster, compared to the Ethereum network, which is another boost for the crypto with high throughput, high scalability, and high availability.

So far, TRX enthusiasts have also suggested that the network needs to launch Project Atlas as a catalyst to help it make a major leap. Project Atlas helps users search, map, and build their own projects. Tron has accepted to launch the project soon. All these activities point to a bullish trend for the cryptocurrency that aims to clinch a position among the top ten digital assets.

Disclaimer: The information on this site is provided for discussion purposes only, and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell securities.
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Aamir Kapoor is a fintech writer specializing in cryptocurrency and blockchain. He has a background in finance and banking and was a researcher.