Ethereum Price Predicted to Climb in the Long Run as Buterin Explains Need for Higher Coin Values
Ethereum Price Predicted to Climb in the Long Run as Buterin Explains Need for Higher Coin Values

TRON News - Tron Boasts New Milestones, Reaching 3 Mln Daily Transactions

  • Alex Morris
    📰 News

    With each announcement, Tron is shifting the balance of power in the crypto space, and there is every reason to believe that the coin will dominate 2019

Tron Boasts New Milestones, Reaching 3 Mln Daily Transactions
You may also like:

Justin Sun, the CEO of Tron, has made a dazzling announcement on Twitter about Tron (TRX) finally reaching 3 mln daily transactions. The top 10 cryptocurrency continues setting new records even during the current crypto winter.

A new milestone has been set  

This is considered to be a historic record for Tron since none of the top 5 currencies was able to record such a gargantuan amount of transactions in a single day. Ripple’s daily transaction record is currently set at 1.65 mln (which is still a far cry from Tron’s most recent numbers). Meanwhile, Bitcoin, the world’s flagship currency, was only able to process 490k transactions at max.

Last week, U.Today reported about TRX reaching 2.53 mln transactions per second.

Tron won’t catch a break

The Tron party doesn’t stop there: Sun took to Twitter to say that Tron has reached an important milestone of 100 mln transactions on Dec. 16.

Another important announcement pertains to the network fees. Tron has already reached a $0.1 fee, and it is quite possible that transaction fees will go to null by Friday.

Last week, Tron also made a substantial amount of buzz in the crypto space by launching its own decentralized exchange TRXMarket with three TRX20 coins.  

👉MUST READ Tron (TRX) Overtakes Stellar on Number of Trading Pairs

Capitalizing on the bearish market

That number seems ludicrous if one takes into account the current state of the cryptocurrency industry with Bitcoin barely hovering above the $3,100 level. However, Tron has managed to find a way out of this predicament by taking advantage of the market bears to increase its daily transaction volume. The network has recently adopted a militant approach to dealing with its competitors — they’ve launched a fundraising campaign for EOS and Ethereum developers if they ditch their respective networks for Tron.

A sudden spike in the number of transactions is inextricably attributed to developers gradually flocking to the Tron network. Apart from enjoying financial incentives, they also can code in simpler languages than Ethereum’s Solidity.

Subscribe to U.Today on Twitter,and get involved in all top daily crypto news, stories and price predictions!
👓 Recommended articles

TRON News - LTC, BNB, TRX, and Others Can Make This a True Altcoin Season — How Can Bitcoin React?

  • Jack Thomas
    🤷 Opinions

    ☀️📈Since the Crypto Winter started thawing, all the main action has come from altcoins, and now a few are breaking key moving averages

LTC, BNB, TRX, and Others Can Make This a True Altcoin Season — How Can Bitcoin React?
You may also like:

While the cryptocurrency market may not be fully bullish and breaking new records in terms of gains and growth, one thing that seems to be apparent is that the total bear market is starting to draw to a close. There has been a lot more positive sentiment in the past few weeks and months.

A lot of this has had to do with a few altcoins putting on good performances in the market. Thanks to positive news with a number of top 20 coin projects, their own token value has been rising – as well as importantly staying up.

Now, there is technical analysis that suggests that coins like Litecoin, Tron and Binance Coin, as well as lesser-known Maker, are trading above their 200-day moving averages, a development typically considered a sign of a healthy market.

This is good news across the board, but what is interesting to keep an eye on is whether Bitcoin will manage to keep up, outdo the altcoins, or potentially start falling behind, enforcing a true altcoin season.

Making a move

Of the top 20 largest cryptocurrencies by market capitalization as per CoinMarketCap, both the BTC and USD pairs of Litecoin, Binance Coin, Tron, and Maker are currently trading above their respective 200-day moving averages.

A moving average is simply an ongoing calculation of the closing prices of an asset over a specified period of time, but is also a tool traders use to gauge the asset’s trend direction as well as support and resistance levels.

These positive moves by top ranked cryptocurrencies are thus reinforcing the notion that the cryptocurrency market is heading towards spring again.

However, Bitcoin, as the head and the mover of the cryptocurrency market, is still trading below its own 200-day moving average, which could also be a reason why people are skeptical of flooding back into the market.

Altcoin season?

While Bitcoin has often been the catalyst and mover of the direction of the markets – and still predominantly is today – there have been times where the remainder of the coins take charge of the direction of things.

It is still early in the supposed Crypto Spring, but with altcoins making the biggest movements and helping prop up the market, one could assume that the market is heading for another altcoin season.

The last one was seen soon after Bitcoin’s All Time High as the remaining coins caught the tailwind of that astronomical growth, but things could well be reversed here if a few more major altcoins catch up and can cross their own 200-day moving averages.

Subscribe to the official U.Today Telegram channel. Get news first!
👓 Recommended articles