The 11th largest cryptocurrency by market cap, TRX is trading at $0.0186 with 2.60% loss. However, this week Tron is registering substantial numbers in terms of trading volume, a surge in daily average users and transaction volume of its DEX. Meanwhile, Tron is fostering innovation by announcing $1 million contest for DApp development.
The Number Game
This week witnessed several developments happening in the Tron Network. As we reported recently, Decentralized Exchange on Tron network is gaining momentum driving the Tron trading volume to $100 million within a matter of days. With 1,650 daily average users (DAU), the DEX is currently handling 10 trading pairs while 80 pending for review.
The TRX volume is also seeing a rise having crossed $1.6 million as pointed out by Tron founder and CEO Justin Sun on Twitter:
— Justin Sun (@justinsuntron) November 17, 2018
In its latest official blog, Tron discusses the developments it has made in less than 50 days. Apart from a boost in trading and transaction volume, the accounts have increased 38 percent, closing on 600k.
Additionally, it has scored yet another exchange FCoin. The exchange will allow you to deposit and withdraw TRX from November 19 and trading in TRX/BTC, TRX/ETH, TRX/USDT pairs that will start from next week as well.
— Justin Sun (@justinsuntron) November 16, 2018
Tron Fostering DApp Innovation & Development
In the recent time, Tron has put special focus on DApp development. Its own DApp environment is expanding with 15 DApps, 100 community developers, and 120 daily transactions. It further introduced TronGrid with Tronweb, TronBox, and TronStudio and the launch of a Tron DApp House.
Now, Tron Foundation has released a program for developers, Tron Accelerator. This $1 million USD program aiming to empower developers and foster innovation within the blockchain industry.
We are empowering developers by releasing #TRONAccelerator, a $1 million USD program aiming to foster innovation within the #blockchain industry. Build your DApp on #TRON, shape the future! $TRX https://t.co/TTZsGoJ6au
— TRON Foundation (@Tronfoundation) November 16, 2018
The event to be conducted from December 1, 2018, to January 4, 2019, invites developer teams to submit their decentralized application project, build on the TRON protocol, and compete for one of the most ambitious Blockchain hackathons ever hosted with 1,000,000.00 USD total awards and 56 winning projects.
Meanwhile, Tron price is in red akin to the majority of the crypto market with its 7-days price movement taking a plunge as shown in the chart below.
At the time of writing, Tron has been sitting at $0.0186 with 24-hours losses of 2.60 percent. The $1.2 billion market cap cryptocurrency is managing the daily trading volume of $63 million while sitting at 11th position. TRX/USD trend is bearish with no bullish signs in sight.