Tron’s price is steadily making its way up, and the Fib extension tool shows the next upside targets. So far, all the tech indicators are hinting at the idea that more gains are on their way to Tron.
Technical indicator signals
The 100 SMA went above the longer-term 200 SMA in order to confirm that the path of least resistance is to the upside. Long story short, it’s more likely to climb rather than to fall. Tron’s price formed and confirmed an inverse pattern to signal that there’s an uptrend on its way.
The appliance of the Fibonacci extension tool unveils the nest upside targets. Tron’s price managed to already surpass the 38.2% extension, and it’s closing in on the 50% extension. Stronger selling pressure could take the crypto up to the 61.8% extension or the 78.6% extension.
RSI is also moving up showing that there’s still some purchase pressure left. This could be quite enough to keep the bulls under control until Tron’s price reaches the next potential resistance levels just before buyers book the profit. Stochastic is also moving up, and this means that Tron’s price could do the same.
The market’s current state following Bithumb’s hacking
Lately, the main cryptos in the market seem to be finally doing better after the bearish trend that took control over the market recently. The coins managed to get over the Bithumb hack news better than everyone expected especially if we compare this unfortunate event with the hacking of the smaller South Korean exchange that took place on June 10. Some voices in the crypto space claim that this happened due to reports saying that Tether was used to manipulate Bitcoin’s price back in 2017. This lead to the belief that the probe by US regulators could trigger the same results.
Overall, Tron’s price seems to have been corrected, and an upward journey is currently expected for Justin Sun’s crypto.
Tron Dapp Usage Exceeds Ethereum
The blockchain project, as well as its native currency TRX, has amassed a lot of attention over the past months. Tron provides a platform for developers to create and deploy decentralized applications (Dapps). Ever since Tron launched its Mainnet, it has been a treat to Ethereum. Recently, the founder and CEO of Tron – Justin Sun – said that the network now supports over fifty decentralized apps. Sun made this announcement on Twitter on Thursday, and he said the network is aimed at reaching 80 Dapps in the near term.
Tron Blockchain Achieved 100 Million Transactions in 173 Days
Justin Sun released this statement after the blockchain achieved a major milestone earlier this month. The network achieved 100M transactions over a period of 173 days. This means that an average of 578,034 transactions are being carried on the blockchain of Tron every day.
Tron Sees More Dapp Usage
Back in August, Martin Koppelmann said that a crucial statistic to use in measuring the growth rate of a smart contract protocol is the number of decentralized apps that interact with one another and the usage of decentralized apps. Koppelmann is the founder of Gnosis.ph – a prediction market platform based on the blockchain of Ethereum. According to Koppelmann: “The usage of Dapps is the number we care about. The next thing is to look out for the number of decentralized apps that interact with each other and benefit from each other for being on the same platform. As a side effect, the value of Ethereum (ETH) will then be a function of the demand for the use of apps in this open, reliable, and interrelated environment.” Tron is a smart contract protocol just like Ethereum, and the value of Tron comes from the ecosystem of its decentralized apps and active users.
Tron Dapp Usage Exceeds that of Ethereum
The top three decentralized apps on the Tron network have 2,300 users on average. TRONbet records 2,500 active users and a transaction volume of two million on a daily basis, according to DappRadar. DappRadar is an online platform that provides data on the usage of decentralized apps on major blockchain networks. In comparison, the top three decentralized applications on blockchain of Ethereum has 700 users on average. The three biggest decentralized apps on the network are IDEX, Crypto Heroes, and ForkDelta. However, EOS accounts for the highest number of decentralized app users on its network. TRON (TRX) Price Today – TRX / USD
EOS is the world’s second most valuable smart contract protocol after Ethereum.
The top three Dapps on the network have almost 5,000 users on average; this is more than the Dapp users of Ethereum and Tron combined.
The top three Dapps on EOS are EOS Knights, PRA CandyBox, and EOSBet. The Dapp usage on the network of Tron has recently exceeded that of Ethereum in terms of daily active users and decentralized apps.
Tron & EOS
Tron and EOS have been focusing more on scalability over the past couple of months. They are focusing more on scalability in their development with the aim of supporting as many decentralized apps as possible in the ecosystem.
This is something Ethereum has been lacking, and that is why a lot of developers on the network are now moving to either the blockchain of EOS or Tron.
TRON price predictions 2019: TRON is a platform which allows you to build and store the applications. It also allows you to execute the smart contracts based on its blockchain. Moreover, it makes it easier for you to freely publish the content as well as data. This ensures that for the entertainment industry as well as media industry, it is actually a pretty valuable blockchain. This also means that the applications of this particular blockchain are plenty.
With that being said, it is important to look into the cryptocurrency an investment asset as well. Many of the investors are trying to find out whether it is at investing levels currently or not.