Tron (TRX) Deep in Red and Languishing at 13th Despite adding 60k+ Users in 2 Weeks


Tron TRX
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Tron (TRX) Deep in Red and Languishing at 13th Despite adding 60k+ Users in 2 Weeks

Tron (TRX) prices may be languishing at 13th in the market cap leaderboard but customer onboarding is quite impressive. According to a recent update from the Tron Foundation, the non-profit that promotes the Tron project, the smart contracting platform ranked higher than Ethereum by China’s CCID, has been steadily attracting users in the last 14 days. The number of users during that time shot up from 4,190,559 to 4,262,802 is sufficient evidence of growth and utility.

Tron co-founder resurfacing at Warren Buffett Lunch Debacle

The founder of the Ethereum competitor is known for his aggressive marketing. From promising high-level partnership to bidding a $4.75 million lunch with the legendary investor Warren Buffett, to rumors of his arrest in China, Justin Sun, is not short of drama.

For his marketing and standing up for what the project represents, Tron is gradually chipping users from Ethereum and EOS thanks in part to their irresistible incentives and a scalable network guaranteeing speed and security. The Tron blockchain is at all times manned by 27 Super Representatives, or Super Nodes, following the adoption of the delegated Proof of Stake consensus algorithm.

Despite the speed, there are allegations of centralization and outright marketing, new developments that go against the principles of blockchain which advocates for autonomy and ridding of third parties.

Poloniex and Tron

Two days ago, a new logo for Tron News was unveiled and is less than a month after Justin Sun offered to donate a substantial chunk of Bitcoins to combat what Changpeng Zhao said was a wave of fake news and deliberate spread of FUD. Tron News will specialize on pro-Tron news reporting based on facts, transparency and integrity.

The media wing could also play into and even boost Justin Sun reputational damage after the Warren Buffett drama and recent complaints by Jared Tate, the developer and founder of DigiByte, a coin that was recently delisted by Poloniex. Tate criticized the exchange calling it a “circus” and a TRX shill factory.

Tron has a partnership with Poloniex, a cryptocurrency exchange owned by Circle, and the delisting of DGB fans the heat between the two influencers. Commentators threw their weight behind the decentralized currency with one Redditor saying:

“Poloniex delisting DGB proves Jared’s point. This was actually good for the DigiByte community, which is looking very strong and cohesive on Twitter. Ultimately DGB does not need Poloniex and I believe this flame war is going to bring in a new batch of DigiByte supporters. My 2cs.”

Author: Dalmas Ngetich
Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies and enjoys the opportunity to help educate bitcoin enthusiasts through his writing insights and coin price chart analysis. Follow him at @dalmas_ngetich
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Dalmas Ngetich 335 Articles
Dalmas is a very active cryptocurrency content creator and highly regarded technical analyst. He’s passionate about blockchain technology and the futuristic potential of cryptocurrencies and enjoys the opportunity to help educate bitcoin enthusiasts through his writing insights and coin price chart analysis. Follow him at @dalmas_ngetich
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