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Tron Price Predicted to Rise as It Overtakes Ethereum in Interest and Other Key Areas

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    Ethereum has long been the top of the altcoins, but Tron is starting to beat it in key areas, such as interest, transactions, accounts and price movement

Tron Price Predicted to Rise as It Overtakes Ethereum in Interest and Other Key Areas
Cover image via u.today
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Other than Bitcoin, Ethereum has always been one of the most popular and well known cryptocurrencies. However, the smart contract original has had a rough year or so and has started to drop off in some key metrics.

It has come to be that Tron, ranked eighth in terms of market cap, is beating Ethereum, up in third, when it comes to interest, transactions, accounts and price movement. This is important data for the price prediction of both coins as no doubt higher interest and use of Tron is good for its growth.

What is more interesting to note is that Tron is, in many respects, a direct competitor of Ethereum as they both operate as a platform for dApps. However, even in the dApp ecosystem, Tron is performing better than Ethereum.

Trending

Tron has, according to Google Trends, been outperforming Ethereum for some time now. In the last year, it has not only overtaken Ethereum in regards to Google searches, but also maintained its interest while Ethereum has started to dip.

Trending

As a metric of growth, and by extension, price increase, Google Trends is massive. A side-by-side comparison of the Bitcoin price and the Google trend data for that coin shows an almost direct correlation.

Tron has been seeing some stability in the bear market and is now going on an ascent. This move in the opposite direction has created a gap between both of the cryptocurrencies’ trend lines on Google and seems to be growing.

Winning where it counts

For blockchains like Ethereum and Tron, dApp development is incredibly important as they are mostly operating as a platform for a decentralised system. A look at the top 50 dApps by active users, Tron is again leading the way.

Changing times

Much like when Bitcoin first appeared, there was very little competition from other blockchains, especially in terms of pure cryptocurrency. However, that is starting to change as the ecosystem evolves and grows.

The same is happening for smart contract blockchains. Ethereum was the original, but the blockchain itself has stagnated while others around it have advanced with the changing times.

Tron showing growth over Ethereum in these key metrics spells potentially good growth for the value of the coin based on more than pure speculation. They are starting to show deliverables on their promises and are reaching a stage of maturation.

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About the author

Jack Thomas is a journalist from Australia who has had a long career writing about finance and technology. He has combined his enthusiasm for these two subjects and applied his writing to covering blockchain and cryptocurrencies in the past few years.

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Bitcoin Price to Hit $250,000 Due to Lightning Network Use by 2023: Tim Draper

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    World-famous investor and Bitcoin bull Tim Draper explains what reasons will push Bitcoin price to $250,000 by 2023

Bitcoin Price to Hit $250,000 Due to Lightning Network Use by 2023: Tim Draper
Cover image via en.wikipedia.org

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Contents

While speaking to the audience at the Malta AI & Blockchain Summit last week, the billionaire and prominent Bitcoin supporter Tim Draper confirmed his previous forecast for the BTC price hitting $250,000 in the near future.

This time he explained that this high price per one BTC will be achieved through the growing use of the Lightning Network and explained how it will happen from his point of view.

Bitcoin still to hit $250,000

The Bitcoin permabull Tim Draper again stated that the Bitcoin price is going to hit $250,000 by 2022-2023. He said this will happen due to the growing use of the Lightning network which allows conducting payments in BTC easily.

Being a major global investor, he nevertheless shares the opinion of many crypto enthusiasts that BTC is not only a store of value but it can also be used to pay for things in everyday life – micropayments, the retail sector, etc, i.e. is perfect for adoption.

Previously, Tim Draper stated that his forecast of BTC reaching $250,000 was actually a quite conservative prediction.

Will Bitcoin get to be worth $1 mln?

As reported earlier on Wednesday by U.Today, the crypto asset manager and a trader Marius Landman tweeted that before Bitcoin hits $1 mln, it is bound to go through ‘super hyper inflation’, in which price drops by $20,000 will be considered insignificant.

He also expects Bitcoin and Litecoin to show ‘subito motus’ (Latin for ‘sudden movements’) soon, saying that this will leave uninformed investors and technical analysts at a loss.

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Smaller bullish BTC forecasts

Other traders and analysts seem to think more vaguely when they are looking at technical analysis graphs. They are bullish, nevertheless.

The @crypto_rand trader with over 216,000 followers on Twitter simply posts a chart, saying that Bitcoin ‘still looks bullish’.

Another analyst and trader PlanB has published a chart of the way the changes in the Bitcoin mining difficulty have impacted the BTC price. People in the comment thread agree that this data at the moment is bullish for the Bitcoin price.

At press-time, Bitcoin is sitting at $8,823.

BTC price CMC
Image via CoinMarketCap

 

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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