Search Inside Bitcoins

Weekly Report Reveals Steady Growth Of Tron’s Network

Weekly Report Reveals Steady Growth Of Tron’s Network
Weekly Report Reveals Steady Growth Of Tron’s Network

Join Our Telegram channel to stay up to date on breaking news coverage

A report shared by Justin Sun, founder of Tron and CEO of BitTorrent shows that there is an increase in the number of DApps on the network. The report also reveals that the number of daily transactions and the number of smart contracts have also gone up.

These statistics were shared through Tron’s weekly report which is compiled using statistics from DApp Review and DApp Radar. The two data tracking platforms keep track of statistics on Ethereum, Tron, EOS and other blockchains. Some of the data they capture includes daily users, volumes and rankings and they offer an analysis of this data.

The growth on Tron

From the data presented in the report, the total number of DApps on Tron has increased. There are 24 new DApps on the network and this brings the total number of DApps on it to 545. The steady growth being shown by Tron is good news for traders who want to buy Tron (TRX).

Not only has the number of DApps increased but so has the number of users. At the beginning of the week, Tron had 36,726 users and the network ended the week with 36,830 users. Smart contracts on the network are now 1,114 which also reflects the steady growth of Tron.

New DApps on the network

A few interesting DApps were added to Tron’s network this week. The first DApp introduced to Tron this week was Crypto Flowers. In the game, users can collect and produce digital flowers. It makes use of smart contracts and other features of the network to allow players to collect, produce and exchange unique digital flowers.

Another game was the second DApp introduced to Tron’s network this week. OxWarriors is a multiplayer RP game where players can manage a squad of warriors. The players have 5 warriors in their squad and they are able to acquire unique weapons and armor for their warriors.

A bit of negativity around Tron

Although the Tron network is showing growth in a number of areas, some negative numbers are being reflected by the network. The total volume on Tron has gone down significantly and this will worry Justin Sun. Tron opened the week with $39,539,053.85 and ended the week with $10,102,680.92. The number of transactions executed on the network has increased, but the volume has gone in the opposite direction.

Tron’s performance on online cryptocurrency exchanges has also been bad in recent weeks. According to Coin360, Tron is priced around $0.02170 and this is a negative 1.70% change in price. Sun’s company has been affected by a series of bad publicity, and this may be the reason why it is performing poorly on the markets.

Cryptocurrency trading has generally been low over the last few weeks, and this could be another factor that has affected Tron’s performance. Most traders are holding back to see how regulators will go about developing policies for cryptocurrencies which is likely to happen over the next few weeks.

Join Our Telegram channel to stay up to date on breaking news coverage

Read next