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Just over 24 hours ago, Tron (TRX) cut out Cardano (ADA) to conquer point 10 based on market capitalization, as reported by Coinmarketcap.com. TRX has managed to leave Monero (XMR), IOTA and Binance Coin (BNB) on the road to the top 10. Approximately $ 30 million market capitalization separate TRX and ADA. Bitcoin SV (BSV) is $ 700 million upfront compared to Tron in market capitalization. Time will tell if TRX will also do the BSV.
A clearer screen of the situation was provided by the screen below.
Possible developments that could have led to TRX go to number 10
To start withOn November 28, the Tron Foundation released an updated version of Tron Mainnet. Dubbed Odyssey 3.2, the update has the following additional features.
- New database in memory more secure and more stable
- TRC10 token support for Tron Virtual Machine (TVM)
- Resource delegation support: Users can block TRX to get energy for other users. This means that a developer who does not have enough TRX can ask others to block TRX for him to deploy and execute his smart contract
secondly, the recent news of the Tron network that adopts zk-SNARKS to improve privacy by the first quarter of 2019 has really ignited the interest in the digital asset. Justin Sun announced the intention to use the famous ZCash technology during an interview with the Bad Crypto Podcast where he explained it as follows.
First of all, I think that transparency [on the Tron blockchain] it's very important … and also governance. Here's how people trust in this network.
I think privacy is also important for the network. That's why I think that in the next year, Q1, we will adopt the zk-SNARK in our network. So try to know zero in our network …
This is how we can improve the privacy of the entire network.
Thirdly, the Tron community has been constantly excited by the decentralized exchange on Tronscan and by two other DEX: Tron Watch Market and TrxDEX.io.
fourthly, the Tron network has continually proven itself in terms of managing millions of transactions per day. The number of transactions in the last 24 hours was recorded at 1.96 million tx. On December 1, this number was 2.4 million transactions in one day. By comparing the 600,000 Ethereum transactions in the last 24 hours, we find that Tron has tripled the number of ETHs.
summing up, TRX has again entered the top 10 of cryptocurrencies based on market capitalization. We also explained four reasons for explaining why it happened.
What are your thoughts with TRX that returns in the top 10 cryptocurrencies based on market capitalization? Let us know in the comments section below.
Disclaimer: This article is not intended to give financial advice. Any other opinion present here is purely that of the author and does not represent the opinion of Ethereum World News or one of its other writers. Perform your research before investing in one of the many cryptocurrencies available. Thank you.
