Quick grip:
- The amount of Wrapped Bitcoin on Tron is now 15,000
- This number is a 5x increase in less than a month
- BTCTRON now has 2,468 holders and users have made 46,397 transactions using the digital asset
- Transactions on the TRON network have now exceeded 1.3 billion
Last week and when Bitcoin was breaking the $ 14k and $ 15k price caps, the amount of Wrapped BTC on the Tron (TRX) network was also growing. At the time of writing, there is exactly 15,000 BTC on Tron (BTCTRON). This amount is five times higher than the 3,000 BTCTRON available at the end of October. This milestone was highlighted and shared via Twitter by the project’s founder and CEO, Justin Sun.
In the day #Bitcoin reaches 15k USD, the amount of #Bitcoin above #TRON reaches 15k in the same time! The total market capitalization is 15,000 * 15,000 = 225,000,000! https://t.co/b9pxRQEw6p pic.twitter.com/FrswG6xS14
– Justin Sun🌞 (@justinsuntron) November 5, 2020
A quick look at Tronscan reveals that BTCTRON currently has a total of 2,468 owners and the digital asset has had a total of 46,397 transactions on the Tron network. Additionally, BTCTRON currently has a market cap of $ 232.3 million using Bitcoin’s current value at around $ 15,500.
Additional milestones of the Tron network
Furthermore, the Tron network has now settled over 1.3 billion transactions with the total number of TRX accounts exceeding 13.7 million. Justin Sun highlighted this milestone and urged blockchain developers to join the ever-expanding Tron ecosystem. Mr. Sun had this to say as regards the growth of the Tron network.
Second @TRONSCAN_ORG, the total transactions on #TRON exceeded 1.3 billion and reached 1,305,468,928. The TRON ecosystem is growing at a steady pace, we welcome more developers and users to join our community. #TRX
Tron (TRX) is still fighting against the $ 0.026 resistance area
In terms of market performance, Tron (TRX) is still struggling to break the $ 0.026 resistance level after briefly dropping to $ 0.023 due to Bitcoin pumping into the crypto markets. At the time of writing, Tron (TRX) has bought back some of its value and is trading at $ 0.02574.
Tron’s fortunes in the cryptocurrency markets are closely tied to those of Bitcoin. If the Crypto king pumps hard over the weekend, TRX is bound to stagnate or lose value as capital is diverted to BTC by traders. If Bitcoin also falls hard over the weekend, TRX will also drop in value. Therefore, Bitcoin’s consolidation will be the ideal environment for TRX to break out of the $ 0.026 resistance level.
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