📰 News Yuri Molchan

TRON News - Tron Users Have Left $31 Mln on DApps, Justin Sun Expects to Add 2,000 DApps in 2019

📰 News
🗂️📌Analysts report that Tron is becoming the leader in the dApp industry, outperforming Ethereum and EOS
Tron Users Have Left $31 Mln on DApps, Justin Sun Expects to Add 2,000 DApps in 2019
You may also like:

The Tron (TRX) blockchain seems to be getting so popular among dApp users and devs that the other day they spent a total of $31 mln on dApps on it. This happened just a couple of days after Tron announced that it has crossed over the line of 2 mln user accounts, which is basically two major milestones taken one after another.

Two successional milestones with dApps

At the end of the first week in March, Tron recorded transactions for over $46 mln compared with Ethereum and EOS, which by that time had $2 mln and over $11 mln, accordingly.

This continued until Wednesday, when the volume of transactions on Tron dApps soared once again, and Tron made more than $31 mln against the aforementioned figures of its major rivals.

Misha Lederman, a prominent Tron supporter, reports that this exceeds double the amount of user funds spent on Ethereum and EOS dApps together.

A record amount of money spent on Tron

The situation for Tron has gotten so good that users spent around $31 mln in total on Wednesday. At press time, there are nearly 255 dApps functioning on the Tron blockchain.

💼 Related Article
Tron (TRX) Reports 27 Mln More Daily Operations Than ETH and EOS Do Together
🔥 Hot
1 week
Tron (TRX) Reports 27 Mln More Daily Operations Than ETH and EOS Do Together

After this event, Tron reportedly publicly promised to give the basis for at least 2,000 dApps by the end of 2019. Its reps also pointed out that the process of adding new dApps is going much faster than they expected.

Justin Sun on the short-term prospects of crypto

Speaking on Wednesday to CNBC, the head of the Tron Foundation expressed a positive opinion when asked if crypto will be considered a massive investment tool in the future.

Justin Sun

Sun pointed out that since heavyweights such as Facebook and JP Morgan are trying to launch their own stablecoins, the situation looks promising, given that these two giants will most likely attract even more investors to the industry – both ordinary and institutional ones – and will contribute to mass adoption of crypto.

As for the TRX market cap, he said that it is not a high-priority focus at the moment, since for Tron it is much more vital to concentrate on technological and development issues.

Only the most important posts per day. Infographics, analytics, reviews & summaries. Follow us on Facebook!
📰 News
👓 Recommended articles
Jack Thomas

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

☀️📈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.

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.
👓 Recommended articles