Tron [TRX] Outpaces the Crypto market, Beats Ethereum by 489%

By Anjali Tyagi
Published February 3, 2019 Updated February 3, 2019
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Tron [TRX] Outpaces the Crypto market, Beats Ethereum by 489%

By Anjali Tyagi
Published February 3, 2019 Updated February 3, 2019

The 8th largest cryptocurrency Tron is already making a lot of progress in 2019. Not only it was the only cryptocurrency with positive Sharpe ratio among the top cryptos but has been working on leaving Ethereum behind.

Already Ahead in 2019

Currently at the 8th position with a market cap of $1.7 billion as per Coinmarketcap, Tron has already got the numbers in its favor right at the start of 2019. In the first month, Tron made a lot of impacts as it briefly went to 7th position in the bear market.

In the ongoing crypto winter, Tron price saw a lot of green at from $0.013 in mid-December 2017, by December end, it has reached to $0.023. On January 10th, Tron price was $0.034 and by month end, it has been trading around $0.30.

Tron price chart, Source: Coinmarketcap

According to the Long Hash’s weekly report, the Sharpe Ratio (a way to examine the performance of investment by adjusting for its risk, as per Wikipedia), of Tron has been the only positive one.

Source: Long Hash

In terms of trading volume as well, in the past 24 hours Tron registered $185 million trading volume in comparison to $151 million on January 6th and $58 million on December 9th. The increase in the past 2 months has been a substantial one.

Justin Sun: Ethereum Killer – Tron

The Dapp ecosystem of Tron is growing fast as evident from the latest data. According to Dapp Radar, among the top dapps, half of them belongs to Tron Network while about 23 in top 50.

Recently, Tron Colony, which includes a couple of TRX fans recently took to Twitter to share that in the month of January, Tron surpassed Ethereum in terms of average daily transactions by about 352 percent. It’s been the third month in a row that the transactions on Tron are beating Ethereum. Meanwhile, the single day high of Tron has been 489 percent more than that of the third largest cryptocurrency.

Source: https://twitter.com/TronColony/status/1091325338498535424

In another event, Tron’s BitTorrent token (BTT) was dominating the trade against Bitcoin pair on Binance exchange, just after the day of its launch.

At the time of writing, Tron has been trading at $0.0259 with 24-hours loss of 0.76 percent.

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Anjali Tyagi
440 Articles
Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.

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