TRON (TRX) Leads Major Coins in Transaction Speed
Justin Sun’s TRON dwarfs Bitcoin (BTC), Ethereum (ETH), Cardano (ADA) and Ripple (XRP) in terms of transaction speed, but are its impressive on-chain metrics enough to spark a bull run?
TRON Leads in Chain Performance
TronixTRX, one of TRON’s biggest communities, took to their twitter account on Wednesday to reveal TRON’s stellar showings in terms of transaction speed and number of transactions it can handle. The research was the latest in Coinmetrics’ substack issue.
“According to @coinmetrics #TRON ranks first in the number of transactions per second compared to #BTC, #ETH, #ADA, and #XRP,” TronixTRX tweeted, along with a chart showing enough breathable distance between TRON’s numbers and other blockchains.
TRON (TRX) is one of the most popular smart contract platforms empowering decentralized applications, dApp, and competes favorably well with Ethereum, Cardano, and EOS. However, rather than a keen competition with closely similar smart contract platforms, it is with Ripple’s XRP that TRON has developed a friendly rivalry. Both have adopted “business” approaches in the past, seeking to deal with financial institutions while providing an appeal that Bitcoin and Ethereum might not provide.
Since January, Tron has recorded more transactions per second than its competitor XRP and has also exceeded 40 million users in its network growth. The numbers are looking quite impressive for TRON, but is that enough for a bull and possibly a resurgence in attention?
Unfortunately, TRON’s on-chain performance is no guarantee for a bull run. If anything, Bitcoin has flourished this long with only modest on-chain metrics. TRON is currently trading above the 200-day moving average. Following last month’s big sell off on the crypto market, TRON’s trading volume has since declined significantly. Coupled with its current price of $0.0715, a solid support of $0.067, and its moving average charts, a bear market is just as possible as a bull.
Regardless, TRON’s improving on-chain performance is a good sign, and one enthusiasts can certainly hold on to.
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