Connect with us

Altcoins

Tron’s (Trx) Rapid Development Hints at the Project’s Full Potential

Published

on

TRON

It has been less than a year since TRON (TRX) launched its MainNet, but during this short period, the project has seen a massive amount of success. Not only did it partner up with countless exchanges and other projects, but it also went through a token migration, token burns, and a Super Representatives election.

Then, it acquired BitTorrent and announced Project Atlas, which later led to the launch of the BitTorrent token (BTT). In addition, it launched its own DEX, its ecosystem exploded with dApps and smart contracts, and it even managed to beat several records regarding the number of transactions per day and week.

While all of this already seems like more than a project should be able to achieve in less than a year — it is only the tip of the iceberg in TRON’s case. Misha Lederman, who has been elected as an advisor to the dApp Evolution Ecosystem, and who is deeply respected within the TRON community, often points out TRON’s achievements.

He recently noted that TRON’s number of dApp users exceeded 88,928 on April 30th, while the project had over 407 active dApps at the time. In addition, TRON is nearing its 1,000th smart contract, which proves that developers are favoring the ecosystem more than ever.

While the project is young, it is extremely innovative, brimming with enthusiasm, creativity, and has a rapidly-growing user base. There is proof of this as well, as the project already has over two million addresses.

With all of this in mind, it is clear that TRON is slowly, but surely, becoming one of the most popular platforms in the world of blockchain. The project has managed to avoid controversies and scandals, unlike other coins, particularly Tether (USDT). Meanwhile, TRON’s dApp number is growing as well, with new ones getting launched all the time. With a situation like that, it would not be surprising if TRON surpassed EOS in terms of dApp innovation, and become the so-called ‘Ethereum Killer.’

TRON vs EOS and Ethereum

While TRON may be at the 11th spot in terms of market cap, it is only third when it comes to dApps. EOS still holds the second place, while Ethereum leads. However, this situation might change in weeks to come, if TRON’s development continues at this pace.

Ethereum will be a much more difficult project to surpass, as it already has over 1700 dApps, where TRON still has just a bit over 400. However, it is also important to note that Ethereum has been developing dApps for nearly four years now, while TRON had less than one. In addition, the speed at which TRON dApps are coming out is increasing, while Ethereum’s developers appear to be migrating away in favor of EOS and TRON.

Finally, as proof that the perspective does matter, there is CCID (Chinese Ministry of Industry and Technology Development), which made its own list of best projects. On their list, EOS currently leads as the best one, while TRON is a close second. However, this list does not focus on the number of dApps, but instead on creativity, innovative ideas, the applicability of an asset, and essential technological ability.

TRON is certainly deserving of the high rank, and it is likely only a matter of time before it surpasses EOS. As for Ethereum, it is still one of the most important projects ever to be developed, and that will never change. However, Ethereum’s focus is on smart contracts, rather than the coin or dApps, which is still an area where the project dominates, and that is unlikely to change anytime soon.

For the latest cryptocurrency news, join our Telegram!

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 Pexels

Altcoins

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

Published

on

By

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…

Continue Reading

Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

Published

on

By

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

Continue Reading

Altcoins

Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

Published

on

By

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,…

Continue Reading

Trending