Tron (TRX) Recovers 10%; Data Indicators Point to Rapid Expansion

Tron (TRX) saw a rapid recovery bounce of 10% following the market wide rupture of the previous few days, a figure exceeded only by XRP (XRP) and Stellar (XLM) among the major altcoins.

The recent crash wiped 15% off the value of Bitcoin, and $38 billion left the global market cap in the blink of an eye. While it seems like time stood still for the last few days, the noises coming out of Tron HQ are much the same as they were before the crash.

Tron Data Indicators

Tron founder and CEO, Justin Sun, released a community update on Friday which detailed some recent indicators of Tron’s expansion. Sun tweeted:

“In the past 46 days, #TRON has welcomed another period of rapid development. During this time, our core data indicators as well as the entire #TRON ecosystem experienced significant growth. Here is an update for all #TRONICS.”

The update covers some of Sun’s own personal social media data, such as the number of his Facebook followers now exceeding two million. His Twitter followers exceed half a million – a number remarkable only for the fact that the account was created just last year.

Moving into the blockchain data, Tron made news recently for exceeding 1.3 million daily transactions – a number 119% that of the EOS blockchain. Accounts created on the Tron blockchain also crossed 600,000, which is 20% more than EOS despite the TRX chain being ‘younger’.

Since the mainnet upgrade (v.1.3) to activate the Tron Virtual Machine went live on October 8th, there have been 269 smart contracts created, and over 1.2 million ‘triggers’ of those contracts (undoubtedly partly fuelled by gambling apps).

Meanwhile, the Tron DEX which launched at the end of October has already seen 100 million TRX change hands. The DEX has seen an average of 1,650 daily users, as well as 26,000 daily transactions.

TRX Listed on FCoin

As per Justin Sun’s tweet on November 16th:

“#TRON will be listed on @FCoinOfficial, you can deposit and withdraw #TRX on November 19, 20:00 (SGT) and trade TRX/BTC, TRX/ETH, TRX/USDT on November 21, 20:00 (SGT).”

Deposits and withdrawals will begin on November 19th, and trading will begin in earnest on November 21st. TRX will find itself with two crypto pairings, as well as a stablecoin pair – TRX/BTC, TRX/ETH and TRX/USDT.

However, a quick glance at the FCoin exchange numbers reveals a platform which caters to nothing but transaction mining. Whether this will make itself felt on TRX’s market numbers (specifically volume), remains to be seen. One wonders what the benefits of having the coin listed on the exchange really are.

Since the bottom of Tuesday-Wednesday’s dip, TRX climbed from $0.017546 up to $0.019412 – a jump of 10%. Since the peak the surge levelled off, sending the coin back to the $0.191 range.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.