A while ago, Tron’s Justin Sun suggested that his platform would be capable of carrying Ethereum and EOS developers as both platforms crash. Well, some developers seem to believe Tron isn’t going to sink as fast as Ethereum and EOS and are thus migrating to the Tron blockchain. This migration is giving the Tron network more momentum in terms of development and network transactions.
Tron Gets A Boost In Momentum
For starters, the Tron network has experienced a dramatic rise in the number of daily transactions recorded. The Tron foundation announced that it had crossed a new milestone by recording more than 2.53 million transactions in a day. The number of addresses that accessed the network has increased by 32,293. This was according to the announcement made by the company on the 13th of December.
TRON (TRX) Price Today – TRX / USD
Today, the number of daily transactions had increased to 2.65 million an additional 12,463 accounts have joined the network.
The reason for the spike is obvious: developers are migrating to Tron. Tron offers smart contract capabilities like EOS and Ethereum. So, it can house developers from both networks. Keep in mind that the price of the TRX token is still falling along with others in the market. However, many developers consider the blockchain as more stable at this time.
The Tron development team is working hard to meet its goals. Even with the bear market, the momentum of development has not slowed down. This means that the fall in the price of cryptocurrencies has not affected the developmental progress of the blockchain in anyway.
So far, Tron has completed two fully functional decentralized exchanges. One is TRX.Market while the other is Tronscan.org. This is in line with the promises the foundation made and both projects were completed on schedule.
Apart from completing two decentralized exchanges, Tron also achieved another milestone when the TRX token took the 10th position from Cardano (ADA) on CoinMarketCapital’s list of cryptocurrencies.
What The Future Holds For Tron
Tron has proven itself resilient amid a bearish market. Irrespective of the price struggles the industry is facing, the Tron team has continued and will continue to expand its horizon to reach developers and investors globally. Many DApps were created on the Tron blockchain by developers who believe in the project. On more than one occasion, meetings were held to discuss the development of the project. There are no signs that the project is slowing down anytime soon.
The TRX token is still in the 10th position on CoinMarketCap’s list of largest cryptocurrencies per market capitalization. If not for the fact that the market isn’t currently stable, it’s possible that TRX would have moved higher to be among the top 5 cryptocurrencies. Right now, the coin is undervalued.
Tron (TRX) Price Analysis
At the time of writing, BTC is struggling to stay above $3200. The drop in the price of BTC and other coins this morning threatened to pull the total market capitalization is of the industry below $100 billion.
The price of TRX at this time is $0.012678. This shows that it is down by 2.81% against the USD and up by 0.48% against BTC. The trading volume over a 24 hour period is $53,283,206 and the market capitalization is $842,639,734.