Tron, the eleventh largest cryptocurrency on CoinMarketCap might have lost its position in the list of top 10 cryptocurrencies but is adding new feathers to its cap every day. Tron Foundation, led by its founder and CEO Justin Sun, has been performing exceedingly well when it comes to DApps. However, this time, the Tron mainnet marked a milestone as it reached 2.5 million accounts.
Misha Lederman, a prominent proponent of the Tron community, announced the development on his Twitter handle. Lederman said that there were 2,500,133 user accounts on Tron’s mainnet since its launch in June 2018. He tweeted,
The proponent also followed up with another tweet to inform the community that Tron had produced more blocks than Ethereum [ETH], its main competition. Lederman said that Tron had produced 8.3 million blocks since its launch in 2018, while Ethereum, despite having the advantage of starting early in 2015, had only 7.5 million blocks.
Tron has been moving forward with its DApps development and evolving ecosystem to prove itself. Recently, Travala.com, a renowned blockchain travel platform, announced that they will be accepting TRX token for booking hotels across the world. The number of hotels was above 500,000, which hinted at a massive adoption push for the TRX token. Travala said:“Use TRX to book 550,000+ hotels worldwide with an average saving of 15% on http://Travala.com Get further savings up to 10% off the already amazing prices with our SMART program.”
According to Today’s Gazette, Tron is the tenth cryptocurrency to be adopted by the platform after Bitcoin, Litecoin, Ethereum, and XRP, among others. At press time, Tron’s price was dipping and had fallen by 1.14% over the past day. Tron was valued at $0.0264, with a market cap of $1.76 billion.
Tron price analysis: TRX/USD bulls are struggling with critical price area at $0.0400 on its independence day
- Tron price on Tuesday is trading in negative territory, nursing losses of some 1.5% in the second part of the session.
- The Tron foundation will be completing a large scale TRX token buy-back plan over the coming year to 2020.
The Tron CEO and founder Justin Sun was recently tweeting to the community, noting that today marks Tron’s (TRX) independence day. It was this time last year when Tron migrated off Ethereumblockchain as an ERC20 token, to the launch its own Tron mainnet.
Tron foundation in an official blog post named ‘Announcement on $20 Million TRX Buy-back Plan and 2020 TRX Holding Plan by TRON Foundation’.
The detailed program is going to have the widest coverage in the secondary market. It will last for a year and will include buying back TRX from the secondary markets in batches with no less than $20 million.
TRX/USD daily chart
Tron’s Justin Sun claims stablecoins will be key to cryptocurrency development
The Justin Sun-led Tron has been in the news multiple times recently, thanks to its regular updates and noticeable price hikes. The CEO has also played a very active role in promoting the cryptocurrency, as exhibited by his recent AMA on Periscope.
Sun focused on how the initial success with protocol governance in the Tron ecosystem paved the way for future developments in the blockchain. The CEO stated,
Tron had 27 Super Representatives passing 17 new protocols out of which 10 were voted in and accepted. Tron is also the third blockchain after Ethereum to be associated with the stablecoin Tether.”
Justin Sun further opined that 2019 was the year of the stablecoins and that inked assets will be a key focal point when it comes to future developments. He believes that the stablecoin system is the ecosystem in which centralized finance will be taking off. Sun added,
“We will be collaborating with more parties to boost Tether USDT use cases in the TRX ecosystem.”
The Tron Foundation had launched Tether on the TRX blockchain in April to much fanfare, with Tron tweeting,
“Today #USDT is launched on TRON’s blockchain. $USDT is issued by @Tether_to on the #TRON network based on #TRC20 protocol. There will also be a total reward of 20 million $USDT for 100 days. $USDT will be fast, free and smart! #TRX #BTT”
This program was later postponed due to certain discrepancies that came to light post the Tether-Bitfinex episode. Another topic touched on by the Tron CEO was the much-celebrated BitTorrent, which has come a long way since its acquisition by Tron in 2018. Sun admitted that BitTorrent was ‘integral’ to the overall growth of Tron’s development cycle. BTT recently completed its fifth airdrop on June 11, right after the Tron blockchain had breached the 10 million mark in terms of block height. The BTT airdrop involved the transfer of close to a billion tokens which were sent as a reward to TRX holders.
Tron celebrates its Independence Day, Longhash on the risk of a 51% attack and more
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