Tron (TRX), recently deemed the hottest cryptocurrency by Bloomberg, has been posting notable gains amid the broader crypto bear market. Since mid-November, the popular cryptocurrency has risen from $0.0118 to $0.0256 apiece, as the asset’s underlying network has seen a handful of technical developments that have pleased investors the world over.
This theme was only recently cemented when Misha Lederman, a leading crypto industry commentator, made optimistic remarks regarding TRX.
Tron DApp Ecosystem Surging
Lederman, the co-founder of IAmDecentralized.org and an advisor to DAppEvolution, exclaimed on Twitter that today marks the 120th day since Tron’s virtual machine was activated, which came weeks, if not days after the launch of the mainnet. This simple action allowed decentralized applications, so-called “DApps” to get a foothold on the Justin Sun-backed blockchain.
Today is exactly 120 days since the #TRON Virtual Machine TVM was activated
This allowed DApps to be launched on the TRON Blockchain
TRON houses 193 DApps on @dapp_review today
Daily users now stand at 62,216 & rising
The DApp era has only just begun & TRON is killing it 🖖🏽 pic.twitter.com/WBuYM7Lg1d
— Misha Lederman (@mishalederman) February 9, 2019
And since that fateful day, DApp activity on the platform has surged, as the development of on-chain applications has been pushed by the Tron Foundation, and especially by Chinese technology guru Sun himself. In fact, according to crypto analytics provider DApp Review, the Tron blockchain houses over 193 applications, which were built in four months’ time. The number of users of these DApps amounts to 62,216 strong, and purportedly continue to rise day-over-day.
Thus, Lederman confirmed that while the “DApp era has only just begun,” TRX is already “killing it.”
TRX Sees Strong Fundamental Week
The swelling number of DApps, along with said applications’ hegemony from a broader view, isn’t the only thing going for Tron, according to Lederman’s comments. In earlier tweets, the industry insider outlined a number of positive fundamentals for the eighth most valuable cryptocurrency by market capitalization.
This week in TRON:
1. #TRX claims 1, 2 & 3 spot on @DappRadar
2. #TRON outpaces #Ethereum on Google Trends
3. TRON has 1M more accounts than #EOS
4. @justinsuntron cover of @blockjournal
5. @travalacom accepts $TRX to over 550,000 hotels & properties
— Misha Lederman (@mishalederman) February 10, 2019
The search term “Tron” purportedly outpaced “Ethereum” on Google Trends, indicating in the eyes of some that the latter’s presence in the smart contract space has been stifled amid this bone-crushing bear winter. In other news, there are purportedly one million more TRX accounts than EOS accounts, further cementing the idea that Sun’s brainchild has begun to gain traction beyond compare. In the same vein of positive news, Travala, a crypto-friendly travel site, began to accept TRX for over 550,000 hotels and properties, giving the cryptocurrency a bonafide stab at ‘IRL’ adoption.
And all this comes as BitTorrent launched its own token via Binance’s Launchpad venture. As reported by Today’s Gazette on a previous date, 59 million BTT tokens were sold in less than 20 minutes, indicating that the Tron-based ecosystem is garnering traction without a doubt.
At the time of writing, TRX is valued at $0.02557, or 699 satoshis, and is trading 5.6% under yesterday’s price.
Title Image Courtesy of Markus Spiske on Unsplash
Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.