How Tron’s (TRX) Growth Might Have been Predicted

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Starting on the 10th of December last year, TRON showed steady growth, doubling in price in an unstable market.

At the moment, TRON is in 8th place in terms of capitalization, not far from the top 5. Could that have been predicted? We think so, as there were a few indicators that this kind of growth might have been coming.

Source: Datalight

 

BitTorrent acquisition


It is widely known that in the summer of 2018, TRON acquired the most popular torrent tracker in the world, BitTorrent. That already gave TRON some momentum.

A few weeks ago, it was announced that BitTorrent will release its own BTT token on the TRON platform that can be obtained for activity with torrents. Considering that the number of BitTorrent users has exceeded 100 million, realization of this fact undoubtedly contributed to the hype around the project.

Blockchain activity


After transitioning to its own platform at the end of June 2018, the number of blockchain transactions on TRON has steadily increased. In December, the number of transactions exceeded 3 million for the first time. Since then, this number has not dropped below 2 million transactions per day. According to this indicator, TRON occupies the second place ahead of Bitcoin, Ethereum and XRP, only behind EOS.

A similar situation can be seen with another important indicator of blockchain activity as the number of TRON accounts has exceeded 1 million, an increase of 600,000 accounts in the last 30 days.

Ambitious goals

Justin Sun, CEO and founder of TRON, has set a number of ambitious goals for 2019:

● Enter the top 4 list of cryptocurrencies at CoinMarketCap
● Make TRON’s ecosystem larger than that of Ethereum
● Bring 100 million users of BitTorrent into the TRON ecosystem
● Make TRON the largest decentralized system.

While these goals may seem highly ambitious, 2018 was undoubtedly an impressive year for TRON.

Source: Datalight

Steps to legitimacy

TRON is trying hard to solve problems with respect to its legal status.

On the 10th of January, a chief compliance officer appeared in TRON’s team. David Labhart, former United States Securities and Exchange Commission (SEC) supervisory attorney, will try to settle the legitimacy of TRON in the United States and other jurisdictions.

The market responded immediately to this information with growing social media hype and a corresponding increase in TRON’s price by 32%.

There may or may not be solid fundamentals underpinning TRON’s growth. But you don’t have to follow every news story and be a blockchain specialist to make accurate trading decisions. You can follow the mood of the market, influenced by a collection of indicators.

First Stablecoin Trading Pair Goes Live on Binance DEX

Venture capital backed blockchain startup Stably, the issuer of USDSB, the first stablecoin to be launched on Binance Chain, has announced that a trading pair for USDSB is going live on Binance DEX today (June 24).

Seattle-based Stably was co-founded by Kory Hoang (Chief Executive Officer), a former Private Equity Data Analyst for PitchBook, David Zhang (Chief Technology Officer, who used to be a Software Development Engineer at Amazon, Amiya Diwan (Chief Product Officer), also a former Software Development Engineer at Amazon, and Bryan Guy (Chief Legal Officer), who is a licensed attorney.

Stably announced on 1 November 2018 the early access launch of its pegged and fully dollar-collateralized stablecoin, StableUSD (USDS), which had first been launched on the Ethereum mainnet on 16 August 2018. Stably said at the time that the fiat reserves were held in FDIC-insured escrow accounts managed by custodian Prime Trust, and that a leading accounting firm, Cohen & Co., would be conducting weekly attestations for these fiat reserves. 

Then, on 1 February 2019, USDS got listed on Binance's centralized exchange (Binance.com), and two trading pairs for it—BNB/USDS and BTC/USDS—went live on 5 February 2018.

Later that month, trading pairs to support trading USDS against four other stablecoins—USDT, USDC, PAX, and TUSD—became available on Binance.com.

On March 18, Stably said that USD had received support from Binance's over-the-counter (OTC) desk. Kory Hoang, the Stably CEO, had this to say at the time:

“Partnering with Binance OTC allows us to provide even more liquidity to trading shops who want to move large amounts between major cryptocurrencies and USDS."

In a blog post published on June 3, Stably announced it was going to issue StableUSD on Binance Chain, and that USDSB, a BEP-2 token, would become the first stablecoin on Binance Chain. Mahraan Qadir, Director of Product Management at Stably, went on to say:

Building on Binance Chain provides many benefits for stablecoin users, such as improved security, ease of use, and speed of transaction. This makes USDSB one of the fastest major stablecoins on the market, with one-second block confirmation time and the ability to process several thousands of transactions per second."

He also said:

Expanding onto Binance Chain will also allow the Stably team to eventually submit a proposal to list USDSB on Binance DEX, an initiative that we are planning to achieve in the coming weeks. If it is approved by the validators and gets listed, USDSB will become the first stablecoin to launch on Binance DEX..."

Well, now, three weeks later, we find out via another blog post by Qadir that USDSB has indeed been listed on Binance DEX and that trading pair BNB/USDSB is going live today on Binance DEX (expected to happen aat 10:00 UTC). Furthermore, he says that Stably is "planning to list USDSB with additional assets on Binance DEX very soon."

Also, according to Qadir, today, two trading pairs for USDSB are being launched on Binance.com: USDSB/USDT and USDSB/USDS.

Featured Image Courtesy of Binance