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

  • Jack Thomas
    🤷 Opinions

    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
Contents

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 Dips Below $8,000 While Crypto Market Is Expecting Another Volatile Move

  • Alex Dovbnya
    📰 News

    Bitcoin is trading below the pivotal $8,000 level, and that might mean that the storm is coming

Bitcoin Price Dips Below $8,000 While Crypto Market Is Expecting Another Volatile Move
Cover image via www.123rf.com

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.

Bitcoin (BTC), the top cryptocurrency by market cap, is testing the $7,800-$7,900 support for the fifth time since plunging 20 percent on Sept. 24. 

This time around, bulls might be way too exhausted to defend the above-mentioned price level, which could potentially result in another major downward move that bears have been waiting for. 

At the time of writing, Bitcoin is trading at $7,946 after a sizeable 3.22 percent drop, CoinStats data shows. Altcoin holders are also feeling the burn -- Ethereum (ETH), the top coin by market capitalization, is currently down by almost 5 percent while Bitcoin Cash (BCH) has plunged by 6 percent.     

top altcoins
image by coinstats.app

Despite the gloomy technical picture, cryptocurrency trader 'Galaxy' says that it's too early to call the battle. 

Meanwhile, Josh Rager hopes to accumulate more at the $3,000 level in case of another major price drop. 

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Bitcoin has been going back and forth within the same price range for nearly a month with a few notable fakeouts. It doesn't take a trading guru to predict that the top coin might experience another volatile move in a matter of days given that the Bollinger Bands, a key technical indicator for measuring volatility has been extremely tight as of recently. 

Trader "The Crypto Dog" says that he's surprised that anyone is still able to buy BTC at $9,000. Meanwhile, famous gold proponent Peter Schiff insists that the orange coin is way too expensive, and its price might drop to as low as $200.

What will be Bitcoin's next move? Share your take in the comments!   

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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