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Information about TRON (TRX)
TRON is a highly scalable, high-bandwidth blockchain platform that allows developers to create Smart Contracts and develop dApps.
TRON is a blockchain-based operating system that ensures the technology is suitable for everyday use. While Bitcoin can handle up to six transactions per second and Ethereum up to 25 transactions per second, TRON claims that their network has a capacity of 2000 TPS—24/7.
The project is a decentralized platform focused on content sharing and entertainment, and ultimately, one of the project’s biggest acquisitions was the file-sharing service BitTorrent in 2018. Overall, TRON has divided its goal into six phases:
TRX acts as a Governance token on the TRON platform. TRX holders can freeze their cryptocurrency to receive Tron Power, whereby they can vote for a “super representative” who acts as a block producer. These block producers receive TRX rewards for verifying transactions, and the rewards are then distributed to those who voted for them.
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TRON (TRX) and Cardano (ADA) are in a tight race for the 9th spot in market capitalization. Cardano’s network activity has seen a significant 30.3% decrease in daily active addresses, indicating possible investor concerns.
TRON’s liquidity is strong, with recent USDT minting of 1 billion USD amplifying its market utility. Despite a slight dip in Total Value Locked, TRX’s trading volume surged by 179.4%, showcasing a healthy market demand.
ADA saw a 21% decline in Q1, contrasted with TRX’s limited losses of 8%. As ADA remains significantly below its cycle high, TRON’s positioning suggests it is likely to challenge higher market caps, potentially exceeding 24 billion USD.
On Thursday, World Liberty Financial (WLFI) moved 775,000 USD in USDC to a wallet focused on altcoin purchases, enhancing its investment strategy.
WLFI’s portfolio has expanded to include eleven cryptocurrencies, notably Ethereum, AVAX, LINK, and Tron, reflecting a broad diversification.
The company is collaborating with the Sui blockchain and plans to launch a stablecoin, USD1, redeemable for US dollars, aimed at institutional investors.
Tron has generated 12.3 million USD in fees, while Ethereum has reached 6.69 million USD. Despite Ethereum’s fee increase of 89%, Tron maintained a slight fee rise of less than 5%. This week, Tron also led in transaction volume with 56.7 million, vastly outpacing Ethereum’s 8.4 million.
Tron has over 6.1 million active addresses, significantly higher than Ethereum’s 2 million, indicating a shift in user engagement. In March, Tron was the most profitable blockchain, accumulating 51.35 million USD in fees, highlighting its growing appeal for low-cost transactions.
Tron (TRX) has shown a price increase of 4.39% in 24 hours, currently priced at 0.2358 USD. Meanwhile, Dogecoin (DOGE) has a market cap of 22.47 billion USD, valued at 0.1514 USD. Tron requires an increase of about 150 million USD to surpass DOGE.
Tron is recognized for its strong ecosystem, particularly with Tether (USDT) and significant staking volume for its USDD coin. As the demand for Tron’s solutions grows, it is positioned as a strong competitor against other established cryptocurrencies.
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