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Decentralized Tron exchange hits 100m TRX trading volume, Sun eyes 500m

Published

5 years ago

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Tron

The Tron community is undoubtedly taking every step possible in making sure that it does the best in the crypto world and takes the front seat. The progress TRX is making on a daily basis seems to be paying off well as it is attracting attention and for that reason, the trading activities on its decentralized exchange platform, DEX, are booming.

Tron (TRX) beats 100 million trading volume today

It has been merely a few days or so ago since DEX was discovered on Tronscan.org by Tron but the activities are ‘going crazy’ according to the blockchain firm’s founder and CEO Justin Sun. Initially, Tronscan.org DEX recorded around 25,513,713 TRX which only doubled in a day to about 57,957,467 TRX.

At that rate of increment, earlier today, it was noted today that it had reached 94 million TRX and Justin Sun seemed to be pretty sure that by today they will break the 100 million TRX mark. And guess what that has happened already.

This news has made several crypto enthusiasts believe that currently, Tron is in a league of its very own even with others overseeing it to overpass Ethereum sooner or later. And, it doesn’t seem that the 100m mark will be the last for Sun-led cryptocurrency firm as they aim to keep launching several tokens and projects on the platform. And of course, as Sun has set 500 million DEX trading volume as the next milestone for TRX.

As things stand, Tron is showing no signs of slowing down any time soon. Everyone is excited to see the next coins that would get added and several others were expecting something extra from the blockchain firm on hitting the 100 million trading volume mark.

Being able to keep featuring in the top crypto news platforms right from the beginning might have been the reason for the spike of its popularity. Nevertheless, several people have taken notice of good strides made by Tron, and now are investing in the TRX token which only means that its price will probably go to the moon. Of course, when the next crypto bull run comes, which looks a bit far from now after the recent crypto market fall.

Following this explosion of activities on the decentralized exchange platform, it’s evident that Tron is pushing the ladder high as shown by the rising trajectory on the value of the token over the past week (until yesterday market collapse happened).

The same is expected to continue as DEX keeps attracting more and more users, and of course, TRX keeps getting listed on other exchanges too. Whether Tron realizes its dream of becoming the best crypto is something that only time will tell, but currently it seems to be on the right path to achieving that milestone.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Free-Photos/PixaBay

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Crypto

BNB Price Surges Past $300, Faces Crucial $339 Hurdle: What’s Next?

Published

4 months ago

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December 29, 2023

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BNB price has noted significant gains over the past few days, surging past the psychological resistance of $300. The native cryptocurrency of the Binance Exchange has surpassed Solana to regain its position as the fourth-largest cryptocurrency by market cap. The digital currency has been rallying lately with a 7-day profit of more than 15%. Additionally, BNB has clocked a phenomenal gain of 38% in the month to date.

Binance Coin Outlook

BNB price has been on a strong bull run for the past week, breaking out of its consolidation. Even so, the asset has experienced a correction in its uptrend over the past 24 hours but remains above the crucial level of $300. BNB’s total market cap has decreased by 4% over the past day to $48 billion, while the total volume of the asset traded over the same period dipped by about 15%.

Over the past year, Binance Coin has had to cope with Fear, Uncertainty, and Doubt (FUD)  on the back of the regulatory troubles of its underlying exchange. Earlier, the BNB price touched a low of $223.50, a few days after its former CEO, Changpeng Zhao, pleaded guilty to money laundering charges. However, the cryptocurrency has managed to rebound 46% in value since then.

The recent price rally has been associated with various positive developments in the Binance ecosystem, including the Introduction of the Isolated Margin Auto-Transfer Mode. This feature enables…

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Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

Published

4 months ago

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December 27, 2023

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

Published

4 months ago

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December 22, 2023

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama…

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