Milestone: Tron (TRX) Transactions Exceed $1 Billion on May-14
Tron(TRX) has recorded a 24-hour transaction volume that was last seen in mid-2018.On May-14, the TRX platform recorded a volume worth of one billion US dollars/
MishaLederman, the co-founder of IAMDecentralized and an advisor at dApp evolution, tweeted:
“Tron just passed 1 billion USD in 24-hour trading volume. Last time TRX had a 24-hour trading volume surpassing 1 billion USD was on May 1, 2018 – one month before Tron Mainnet launch over a year ago! Good times ahead for all TRX hodlers & users.”
The journey to the increase in transaction volume was not abrupt. In March, Tron (TRX) surpassed yet another milestone by recording a capacity higher than that of Ethereum (ETH) and EOS (EOS). Notably, the volume was larger than EOS’s and ETH’s combined.
It Even Surpassed ETHand EOS Combined
Tobe precise, on March 6, Tron recorded a transaction volume worth slightly above100 million US dollars. EOS and ETH, on the other hand, posted transactionvolume worth roughly 16 million US dollars and approximately 4 million USdollars respectively.
Notsurprising, Tron’s competitors have been finding it hard to keep up with thepace. For example, apart from leading in transactional volume, it is alsoleading in the number of new decentralized applications (Dapps). In the firstweek of March, for example, a scan of the Tron blockchain revealed that theplatform has over 160 Dapps and over 464 smart contracts.
Additionally,the scan picked 10 decentralized exchanges on the platform, six games, amongothers. As of Jan 2019, the total new users of decentralized apps on Tron was164,150 compared to 79,528 and 59,869 on EOS and ETH respectively.
Atweeter user, BCorgi12, noted:
“The Dapps are surging too, some really unique content being delivered to Tron users. If you haven’t already, I strongly suggest looking at @Blazemachin. The perfect mix of PvP, gambling, and trading. It’s a lot of fun.”
“As Tron has 4 times as many daily active Dapp users on May 13, this is likely to grow to 10X EOY 2019 given Tron’s scalability & the plethora of sophisticated games & platforms being built & soon Launched on TRX.”
Bitcoin Was AlsoFinding It Hard to Keep Up
Interestingly,it’s not only ETH and EOS that are finding it hard to keep up with TRX when itcomes to transaction volume. Bitcoin, the most valuable coin, in aresearch by Data Light, is nowhere in the transaction volume tracks.
Forinstance, in 2018, the prolonged crypto winter saw Bitcoin struggling to post atransaction volume worth $250,000 towards the end of October. At the same time,TRX was recording a transaction volume worth roughly $500,000. Keeping up withmomentum, in November, it crossed the one million mark. It kept the momentumand crossed 2019 where it surged to 100 million and consequently to 1 billion.
However,the leading role is not by chance. Tron charges negligible fees when conductingtransactions on the platform. Additionally, it has a high transaction speed.This two can be seen as the main incentives why Tron is surpassing the likes ofEthereum.
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