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Ensuring the true popularity of cryptocurrency projects is extremely difficult. Numerous factors can be considered. Individual statistics tell only part of the story, as they can be manipulated. For Tron, his popularity on Facebook is exploding. This is a promising sign, but only a particular aspect of the big picture.
Tron's growing popularity on Facebook
You must praise the Tron team for what you are trying to achieve. Decentralizing the Internet is not a new business. Significant steps have been taken to achieve this goal. The acquisition of BitTorrent, Inc. paves the way for the disruption of peer-to-peer file sharing technology. Other efforts, including the development of dApp, are currently underway.
All this culminates in a significant increase in popularity for the project. On Facebook, the project has over half a million "Likes". An interesting statistic, even if it does not say much. Social commitment is, today, a statistic that is examined more often than usual. Making people "like" a page on Facebook can be done through incentives, fake accounts and so on. You can even "like" pages and never see them in your Timeline.
On the other hand, Facebook is a commonly accepted social statistic. In combination with Twitter followers, it gives a certain influence to individuals, companies and projects. Tron is checking many of the right boxes among Facebook users globally. It is significantly more popular than Ethereum, XRP or Litecoin. Even so, the number of likes is just a small aspect. Other factors determine the real value of a project as much, if not more, than the popularity of social networks.
The real factors to be taken into consideration
Collecting a few statistics usually offers a better view of the different projects. In the world of cryptocurrencies, several key contributing details can play an important role. The activities of GitHub, the number of network transactions, the value transferred on the network and the use of dApp are all quite common statistics. All these combined elements always win on social media.
Beyond the information, there is also the market price and market capitalization of individual projects. Tron is far from a complete project, and ranks 11th in the broader scheme of things. As such, its popularity on Facebook does not reflect what everyone thinks of Tron in a financial sense. The project is doing a lot of things well, but it is not yet reaching its maximum. The infrastructure is still under development and progress is being made.
Last but not least, you can not look beyond the Bitcoin Dominance Index. Bitcoin dwarfs with ease all other cryptocurrency projects. Tron is no exception in this regard. Its total value represents a fraction of Bitcoin, although it focuses more on the usability of the technology rather than on payments. Several cryptocurrencies can coexist without real problems. This is what makes the industry so exciting and lively.
Do you think social media play a role in the popularity of a cryptocurrency? Why or why not? Let us know in the comments below.
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