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Tron (TRX) makes another major stride as its accounts surpass 400K mark

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Tron TRX

Tron is one of the biggest blockchain platforms in the market today. Through the dedication and hard work of Tron Foundation and its CEO, Justin Sun, it has become a renowned digital asset. Just a year ago, Tron was a conceptualized platform, but with lots of projects such as TVM, ‘Project Atlas,’ and Tronscan, it is set to take over the world.

Tron has achieved yet another success as its network has expanded. The fully decentralized-focused blockchain network account surpassed 400k mark just a couple of days ago, on 26th September 2018.

Before this announcement was made, it is important to note that Tron surpassed EOS network account and increased to more than 300,000 earlier on; now, Tron has even moved up and surpassed 400,000 mark. Following is a snapshot from Tronscan.org showing the number of accounts on the Tron network at the time of press.

Tron Accounts

Snapshot is taken from Tronscan.org official page.

Coming back to Tron leaving EOS behind, Justin Sun had earlier revealed that Tron would surpass EOS network which has about 333,970 network account, at the end of the third quarter of the year during the launch of Tron’s Virtual Machine (TVM). That’s already done now, as stated above.

Also, Tron has experienced an increase in its daily transactions. It is necessary to also note that at the beginning of this month, September, TRX daily transactions reached highs of more than 400,000. And now, as I write this, the last day transactions that Tronscan shows were 245124, which tells the network usage is multiplying.

Tron’s Virtual Machine got launched a couple of months ago, and during the launch, Sun said that Tron’s VM would be a lot faster and better than Ethereum’s. However, Sun’s statements have been actualized as considering the community’s reaction, Tron’s VM is 1000x quicker and compatible than Etheruem’s VM.

Sun also stated on his official Twitter page that Dapps developers should not build their Dapps on Ethereum’s network and that Tron has the capability and efficiency to give Dapps developers a better experience.

Tron’s Projects: Completed and Work in Progress

Tron’ network is growing with every day that passes, and this is due to its accomplishments. Just this year alone, Tron’s ICO was completed (within three days), its blockchain developed, 2000 TPS, ERC burned and now TRC, BitTorrent acquired, Blockchain.org acquired, MainNet launched, 27 Super Representatives elected, and TVM launched.

Sun recently released Tron’s weekly report to the world that covered all the completed projects and the ones still being worked on by Tron Foundation.

According to the report, there have been several signs of progress so far on Tron’s network which includes the addition of hardware information detection and datum test for nodes. In the last seven days, Tron has included a paging query function to its platform. For its wallet, an update with a completed account-system related to unit test has been done.

Several projects are still being worked on. Tron is also working to improve its TVM test cases. Also, a UPnP test has been done on its network alongside a complete multi-signature related unit test on its wallet.

At the time of writing, the price of TRX is $0.02264, after going up by 6.80% in the last 24 hours, with a market capitalization of $1,491,808,093. The blockchain occupies the market position NO.13, according to CoinMarketCap.

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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.

Photo by Nghia Le on Unsplash

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

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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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Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

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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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Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

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Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.

SOL’s Bullish Cues

Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.

In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.

Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…

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