TRON’s Transaction Volume Passes Top 4 Cryptocurrencies Combined

by | Nov 12, 2018 | Bitcoin, Cryptocurrency, Cryptocurrency News

TRON | Transaction Volume | Bitcoin | Ethereum | Bitcoin Cash | XRP

Tron News: Tron (TRX)’s transaction volume has reportedly grown past the combined daily transactions of the top 4 cryptocurrencies by market cap, Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Ripple (XRP).

According to CryptoCompare, this month, TRON has officially surpassed the trading volumes of the top 4 cryptocurrencies. Using data from Tron’s block explorer, the cryptocurrency’s network observed over 1.3 million transactions on November 9.

During the said time period the combined transaction of Bitcoin, Bitcoin Cash, Ethereum and XRP fall short of  1 million to that of TRX’s levels, as per the data from BitInfoCharts

The increase in TRON transactions

Most experts attribute this increase to all of the video game dApps being launched on the platform. Tron launched a wizarding game, Magic Academy, on October 2. The network has been gaining popularity over its multiple gambling dApps, a report by CryptoGlobe, suggests that TronDice, a gambling dApp has minced out over $5 million in winnings to users.

While some argue that dApp platforms, like TRX, ETH, or EOS observe inflated transaction counts because the dApps employes “zero value” transactions to interact the game with the blockchain. Upon looking at the average transaction value, this theory can be confirmed. Using the data from CoinMetrics, we can infer that even though TRX’s transaction count is climbing, the average transaction value (in USD) still remains on the lower side in comparison to other cryptocurrencies.

Notably, EOS has more transactions per day than TRX, this could be attributed to the gambling dApps popular on the former network as well. On top it, the fee-less transactions feature of EOS usually tend to attract more users.

Read more: TRX Is More Decentralized Than Bitcoin, Ethereum & EOS, Says Technical Manager of Tron

 

Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

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