- Weekly transaction volume of Tron Dapps is up by 207%.
- In the meantime, Tron dapps acquired 33,000 new users, signaling a 64% growth.
Tron dapps have completely dominated the space from March 3-9. These dapps experienced a 207% rise in weekly transaction volume with a total volume of $180 million USD. This far exceeded that of EOS ($102 million USD) and Ethereum ($24 million USD). The top 3 most popular Tron dapps are Epic Dragons, CrazyDogs, and TronGo.
Tron dapps also acquired 33,000 new users last week, signaling a 64% growth. In fact, over the past two weeks, Tron has gained far more new dapp users than both Ethereum and EOS. DappReview, the dapp analysis platform, tweeted on Monday, March 11, that – “52.8K users spent more than $15.7million (696 million TRX) on #TRONDApps in last 24H.”
Tron Price Analysis – TRN Stopped Declining, Is That for Long?
By Dmitriy Gurkovskiy, Chief Analyst at RoboForex
The TRN has stopped going down by the end of this week, now trading at around $0.0227.
The crypto is still bearish, though, if correcting now in the short term. On H4, the price is forming a local diagonal channel between $0.0216 and $0.0237. The Stochastic is headed down, thus giving a sell signal. This one will be confirmed once the local support at $0.0216 gets broken out, sending the price lower to $0.0193. The major midterm resistance is meanwhile at $0.0247.
On H1, the price has tested the local support and is now trying to reach the resistance at $0.0237, with the Stochastic converging.
In Q2, the TRN may get some good fundamental support. Misha Lederman, IAmDecentralized.org founder, says TRON is planning a few important updates for the next few months.
This includes BitTorrent Speed, an app that will enable earning BTT for torrent seeding, and the multi-sign support within the wallets for advanced investors. Besides, the USTD, a new coin fully compliant ad compatible with new standards and protocols, will be fully based on TRON’s blockchain. The new coin will be supported by OKEx.
The security is going to be at the utmost level, based on the zk-SNARKS tech, already successfully used in ZCash.
The TRN is thus getting ready to finally make a good progress, which is likely to send the crypto well up.
Tron-based USDT: Huobi Global, OKEx and Gate.io announce support for new TRC-20-based Tether
Tron Foundation’s relentless push for mass adoption received a major boost recently when Justin Sun, the Foundation’s Chief Executive Officer, announced their partnership with Tether [USDT] to create new stablecoin. The partnership would essentially bring USDT on the Tron blockchain, making transactions faster and free-of-cost, while also improving the use-cases of the stablecoin.
Three major exchanges have now announced support for the Tron-based version of Tether, further bolstering its position in the market. Singapore-based exchange Huobi Global, Malta-based exchange OKEx, and Gate.io, a blockchain assets exchange platform, announced in separate press releases that they will be supporting the new version of Tether.
The TRX-USDT partnership was announced in early March in an effort to bring in a TRC-20-based USDT into the crypto-market. The ‘improved’ coin would stick to the technical token standards maintained by the Tron blockchain and would be interoperable with all Tron-based DApps and protocols.
In their respective press releases, Huobi Global and OKEx stated that the decision was fueled by strong user demand for inclusion of a full-spectrum of stablecoin trading. The exchanges also made it clear that there would now be three different protocol versions of USDT on their platforms: the Bitcoin network-based USDT-Omni, Ethereum-powered USDT-ERC-20, and the new USDT-Tron.
Though the exchanges are some of the world’s largest in terms of trading volume, Tron Foundation had earlier said that the TRX-USDT version was made primarily for Tron-powered Decentralized Exchanges [DEX].
Recently, Tron Foundation also announced an incentive scheme exclusively for TRX-USDT holders. The $20-million incentive plan included the addition of a 20% initial Annual Percentage Rate [APR] for holding the cryptocurrency, which was significantly higher than its prime competition, the USDT-Omni. The plan also announced a scheme spanning over 100 days where USDT-TRX holders would be rewarded more USDT-TRX.
Tron’s DApp program and BitTorrent Token [BTT] launch also saw huge success this year, leading to a temporary surge in the token’s price before a bearish market ensued. On March 17, TRX registered a transaction volume that was five times more than the cumulative transaction volume of its closest competitors ETH and EOS. The transaction volume during this move was recorded to be over $100 million.
Tron [TRX] announces new incentive scheme for USDT-TRX holders to lure USDT-Omni users
Tron’s [TRX] partnerships and updates are meant to take the Tron Foundation, and the cryptocurrency market into the realm of mass adoption. Tron’s recent tie-up with Tether [USDT] made waves, with Tron’s Justin Sun talking up the partnership’s advantages over the Omni network.
In a recent Twitter post, the Founder of the Tron Foundation spoke of a new $20 million incentive plan related to the USDT-TRX partnership. Details revealed that the initial Annual Percentage Rate [APR] for holding the cryptocurrency will be 20% which was significantly higher than its competition. The company’s release also specified that USDT-TRX holders will be rewarded more USDT-TRX during a campaign that will go on for 100 days. Tron’s attempts at dominance over the USDT-Omni tie-up was made evident after the initial budget of $20 million was announced without a hard cap.
The APR will be available to users from the end of April, and will go on till 7 August. Over the course of this time, the APR rate will change from 20 percent to 1 percent, by the end of the 100-day campaign. The new program by Tron is aimed to focus on one thing: migrating the users on the USDT-Omni network to the Tron network. While announcing the USDT-TRX launch, Sun had spoken about the advantages of the Tron ecosystem over the Omni ecosystem.
The Foundation had tweeted,“TRON’s partnership with @Tether_to to bring $USDT on the #TRON blockchain will make transactions faster and free, and provide more use cases. This is a significant improvement from the last generation of stable coins like Omni.”
Following which, the Tron CEO stated,“First of all, USDT Tron will offer the liquidity in Tron decentralized exchange. Second, USDT Tron will offer TRX holder, a new way of value storage. Third, USDT Tron will provide the DApp users, a new way to play DApps, which also minimize the risk of the cryptocurrency. Fourth, USDT Tron will give Tron blockchain new legitimacy and the increase the confidence of the institutional investor in that show.”