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Tron (TRX) Transaction Count Prints New Record: Possible Reasons

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Thu, 07/29/2021 - 13:43
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Vladislav Sopov
Smart contract platform Tron (TRX) witnesses numerous records in transactional activity
Tron (TRX) Transaction Count Prints New Record: Possible Reasons
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Tron Foundation, the organization behind the development of Tron (TRX) high-performance blockchain platform, witnesses an unparalleled increase in user interest.

9,298,611 transactions on Tron (TRX) in 24 hours

According to the official announcement by the Tron Foundation shared on social media, the net daily transaction count on Tron (TRX) network spiked to a new all-time high.

This indicator counts all send and receive transactions across all active Tron (TRX) accounts. The previous high was registered on July 6, 2021, at 9,278,050 txs.

Founder of Tron Foundation (TRX) and CEO of BitTorrent (BTT) Justin Sun highly evaluated the new milestone of his team.

Most likely, this upsurge should be attributed to two catalysts. First, it is a spike in interest in GameFi protocols. These instruments merge the benefits of decentralized gaming, DeFis and NFTs.

Since 2019, Tron (TRX) is the preferred platform for decentralized games, gambling products and high-risk schemes. That is why it can benefit the most from the developing GameFi mania.

Not only Tron (TRX)

Another catalyst is the overall bullish reversal of the crypto market. Net cryptocurrency capitalization witnesses double-digit daily spikes for several days in a row.

Similar processes are registered in another smart contract environment beloved by blockchain-based gaming metaverses, Binance Smart Chain (BSC).

Binance CEO and co-founder Changpeng "CZ" Zhao also attributes this spike to GameFi's popularity.

At the same time, Ethereum's network activity remains stagnant amidst competitors' rallies.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)