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

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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.

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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.

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Livepeer Price is Soaring: Here’s Why it Will Recoil Soon

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Livepeer

Livepeer price drifted upwards on Friday as investors moved to video-focused tokens. LPT price soared to a high of $10.3, the highest point since November 8 of this year. It has jumped by more than 164% from the lowest point in December. 

What is Livepeer? 

Video is a major industry that is currently dominated by large centralized platforms like Vimeo and YouTube. These platforms work well because of the vast amount of money the companies have invested in video infrastructure. 

However, some industry players believe that the industry is ripe for disruption using the blockchain technology. Some of the leading players disrupting the video industry is Livepeer and Theta Network. Instead of relying on centralized servers, these networks rely on thousands of distributed servers.

The network works in a relatively simple approach. The video broadcaster comes up with a video content and then distributes through a distributed network. 

Livepeer has been used to build several decentralized video platforms in the industry like Xeenom, Bonfire, Kavarii, and LiveSpace among others. For example, Lenstube is a decentralized and open-source video-sharing social media platform while The Lot Radio is an independent online radio that streams on a 24/7 basis.

However, there are concerns whether Livepeer and similar platforms are needed in the first place since centralized ones like YouTube, Rumble, and Vimeo work just…

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Solana Price Forms Triple-Top as DeFi and NFT Volume Soars

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Solana price has formed a bearish chart pattern as Solana’s ecosystem makes a stunning comeback. SOL/USD was trading at $24 on Friday evening, which was a few points below the year-to-date high of $26.50. It has soared by more than 206% from the lowest level in 2022.

Solana DeFi volume rebounds

Solana TVL

Solana, once a popular blockchain, came under intensure in November, following the collapse of FTX and Alameda Research. In addition to FTX Token, it was the most exposed cryptocurrency in FTX since the company was one of its key funders.

FTX and Alameda also had a major role in Serum, then the biggest DeFi protocol in the ecosystem. Serum made it possible for investors to earn yield in Solana. Serum collapsed because its public key was controlled by FTX. 

In the aftermath of this collapse, Solana saw its total value locked (TVL) plunge from more than $12 billion to less than $400 million. Serum, which had a TVL of more than $1 billion has collapsed. And in its place, the developers are working on a new product known as OpenBook. However, it has not gained much traction as its TVL stands at $4…

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Ethereum Price Outlook as the DXY Index Crash Continues

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Cryptocurrency prices remained in an upbeat tone on Thursday as the US dollar index continued its bearish move. Bitcoin, the biggest cryptocurrency in the world, rose to $23,165, the highest level in months. Similarly, Ethereum has risen by more than 4% in the past 24 hours while BNB Coin and XRP surged to $307 and $0.41, respectively. 

US dollar index retreats

Cryptocurrencies have an inverse relationship with the US dollar index. For example, the DXY, which looks at the performance of the greenback vs other currencies, soared to a 20-year high of $115 in 2022. As that happened, cryptocurrencies like Bitcoin plunged during the year.

The foundation of this relationship is the Federal Reserve. In most periods, the US dollar index tends to rise when the Fed is extremely hawkish and vice versa. And it was extremely hawkish in 2022 as it hiked interest rates by more than 400 basis points. 

Therefore, while the Fed has remained hawkish recently, the US dollar has dropped because of what the data is saying. Data published recently showed that America’s inflation is easing. The closely watched consumer price index dropped to 6.5% in December while core inflation fell to 5.7%. 

At the same time, other parts of the economy are showing that the American economy is indeed recoiling. Retail sales dropped sharply in December while many…

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