Justin Sun, the CEO of Tron (TRX), has been a very powerful force in the crypto marketlately. He has been leading a movement to push crypto forward and to reach mainstream adoption. In order to make this happen, he is making several upgrades on the Tron network that will lead the company into becoming a better product and to have partnerships with several other companies.
In fact, the Tron Foundation is set to help the world to finally reach the so-called Web 4.0, which is said to be the future of the internet. The company has two strong competitors, though, EOS and Ethereum (ETH), which are all competing for the place as the main king of the decentralized platforms together with Bitcoin (which is more focused on crypto transactions).
Now, Justin Sun has used social media in order to tell the community that Tron has reached a new block height and that the company has exceeded 8.6 million blocks. The number was reached using TronScan, a tool that helps users to determine the block height on the Tron network.
— Justin Sun (@justinsuntron) April 23, 2019
Sun affirmed that Tron is keeping up with its efforts to create a more decentralized internet. According to him, Tron is an important road to reach major mainstream adoption, which will be important both for the token and for the world as well, as it needs companies which are focused on using the blockchain to solve problems.
Tron has just recently jumped from the block height 8 million to 8,614,366 now. In only 20 days, the token was able to mine over 600 thousand blocks. This means that the network is increasing its size very quickly and that Tron is finally seeing some well-deserved adoption around the world. At the moment, the network also has 2.6 million accounts and 1193 online nodes.
Not everybody was so impressed with Tron, though. Some crypto enthusiasts on social media complained that the internet is effectively a single network and that it simply cannot be decentralized because of that, so he said that Tron should strive for a more decentralized notion that the Web 4.0.
In any case, what is clear to us is that Tron is faring very well this year and that the company has plenty of chances of consolidating its presence in the future.
Ethereum [ETH] and Tron [TRX] Price Analysis: ETH and TRX witness steady growth
After the recent pullback of Bitcoin, the market was forced to fall drastically, Ethereum saw a steady recovery post the fall. Ethereum ranked number 2 overall and was priced at $259.12, with a market cap of $27.5 billion. The 24-hour trade volume came up to $23.62 billion out of which, BitMEX contributed 13.94% via XBT/USD. ETH saw a price surge of 9.85% in the last 24 hours, at press time.
Tron, ranked eleventh overall was priced at $0.0294, with a market cap of $1.96 billion. The 24-hour trade volume came up to $683 million, out of which, BW.com contributed 8.09% via the TRX/USDT pair. A price surge of 9.64% was seen by TRX in the last 24 hours.
1-Day – ETH
The Chaikin Money Flow indicated that the inflow of capital into the ETH market was more that the outflow.
The MACD indicator showed a bullish crossover.
The Relative Strength Index put the coin in the overbought zone.
1-Day – TRX
The Parabolic SAR indicated a bullish trend as the dotted markers were under the candles.
The Bollinger Bands indicated volatility in price as the band expanded.
The Relative Strength Index indicated a bullish trend as the graph was closer to the overbought zone.
Tron [TRX] announces future trading on OKEx platform from May 20
The cryptocurrency market has been volatile for the past few days as the coins faced a series of pumps and dumps. Tron [TRX], the eleventh largest cryptocurrency too was fighting the ever-changing market, but had the support of the community as the foundation informed their ardent followers of the developing ecosystem.
OKEx, a cryptocurrency trading platform announced that Tron [TRX] futures would be available on the exchange from May 20 at 8:00 [CET, UTC+1]. The announcement read:
“We are pleased to announce that TRON (TRX) futures trading will be available from 08:00 May 20, 2019 (CET, UTC+1).”
The Chief Executive Officer [CEO] of Tron foundation, Justin Sun, claimed that Tron’s daily transactions would reach 10 to 15 million with the new development. Tron was recently in the news for surpassing 100k daily users on its DApps platform, overtaking Ethereum and EOS. The weekly DApp report added:
“This week, Topdapp also announced its support for Tron’s DApps. Currently, users can learn about the latest information on Tron’s quality DApps, DApp game reviews, rankings by different themes, DApp game strategies and so on.”
The eleventh largest coin also got listed on P2PB2B exchange as it achieved a new block height. The number of smart contracts on the Tron blockchain had also reached 983, closing on the 1k contracts mark.
The eleventh largest token was valued at $0.0276 with a market cap of $1.84 billion. The 24-hour trading volume of the coin was noted to be $817 million as it noted a growth of 3.77% over the past day. Over the past seven days, TRX spiked by 13.13%, but was falling, at press time, by 1.30%.
Highlights at Consensus 2019: Tron’s Justin Sun Struggles while Andrew Yang Shines
While many come to Consensus to see new developments and projects, it is not without it’s own blockchain drama. Here’s a quick highlight of what happened at Consensus.
Justin Sun’s session at the main stage of Consensus was a thrilling and highly anticipated event. Sun is the CEO of Tron, a project with recurrent accusations of questionable behaviour from the community.
Interviewer Pete Rizzo, was having none of that and wanted Sun to get his story straight. “One of the accusations against Tron was that they didn’t do anything new, was it a strategy not to innovate?” Asked Rizzo. This was one of the many questions for which Justin Sun stumbled in words in the absence of concrete answers, which was his go to strategy throughout the interview. One of the major accusations against Tron is that project started with a plagiarized whitepaper, Rezzo, wanted to dig deeper.
What do you have to say about the plagiarized whitepaper?
Trying to find words, Sun says that his teams English was not very good so it was a translation problem, and from the crowd you could hear some ironic laughs.
Andrew Yang preceded Justin Sun in a much more lighthearted conversation with the Internet Candidate:
“The opposite of Trump is an Asian president that likes Math”
The crowd seemed to approve the Presidential Candidate’s message that had much to say about blockchain technology stating for example that this community was “at the vanguard of the evolution of the species.”
Yang talked about his views on the world. On how data is the new oil, how non-traditional media such as the Joe Rogan Experience is seen 10 times more than traditional cable news and how one of his slogans could be: “Make America Think Harder”
Overview of interesting projects found at Consensus 2019
We can’t forget the core of what Consensus is about, new developments and projects. We picked 3 projects that stood out for us.
Let’s start with Chainalisys, a company that has been making headlines for its work on tracking projects in order to clean the system of many frauds and scams. Chainalysis is back in the news with the headline:
“33% of all Ether is owned by only 376 individuals”
Why we like it: Projects like Chainalysis have the potential to eliminate many of the bad actors and bring more transparency to the community.
An interesting project that caught our eye was RoninAi. A common theme of conversation at Consensus was Ai on blockchain, and RoninAi wants to help beginner and advanced traders in Crypto with custom AI signals.
Why we like it: Crypto trading is dangerously volatile, many traders in crypto are not accustomed to trading and are getting wiped out. If you trade cryptocurrency, trying to be smart about it is key and Ai offers an interesting angle worth exploring further.
Another project aimed to make blockchain much simpler and user friendly, was Portis. Their aim is to make it easier to utilize blockchain for companies and individuals.
Why we like it: The complexity of blockchain is even great for firms that are not highly technical. The easier it is to experience blockchain within an organization, the faster blockchain adoption will be.
All in all, Consensus 2019 was a wild ride and filled with projects, industry leaders, investors, developers, big and small companies across the crypto and blockchain space.
Karen Park — Experienced tech and blockchain consultant, now turned full time reporter. Always on the lookout for the latest global tech news, she prides herself in identifying great emerging tech news through a variety of channels.