Tron has officially launched its Tron Virtual Machine (TVM) on 30th Aug 2018.The Founder of Tron (TRX) updated on the progress of the coin over the past few months during the launch of Tron Virtual Machine.
After the MainNet launch, He stated that Tron (TRX) network has high performance and usability. Tron Network has proven to be one of the top decentralized networks in the world as the network accounts and daily transfer has witnessed a significant growth.
Ather the launch of TVM, the total number of accounts on the Tron network had reached to 383,589. This shows that the network has seen an increase of 1431% as compared to 30th July. During the time of MainNet launch the network has seen an increase of 46500% accounts.
The CEO of the Foundation stated that at present, the network accounts is on par with the network account of EOS. Justin further added that they will surpass EOS in terms of account numbers by the end of Q3.
There has been a significant rise in daily transactions of Tron (TRX) Network. On 20th August, the single day transaction on the Tron network reached its highest mark i.e. 416,497. The network has witnessed a growth of 741% since 25th July. In addition, the single day transaction has seen a growth of more than 13,565% since the MainNet Launch. This means that the single day transaction peak is 46 times of Ethereum’s single day transaction in the past 2 months alone. This is what Founder of Tron said:
“Currently, Tron networks single day transaction peak has reached 31% of that of Ethereum.”
The price of TRX plunged more than 11% on the day TVM was launched. This may mislead some investors into thinking that Tron’s TVM launch was a failure and that investors are not interested in such gimmicks but that is actually not the case. There are three types of investors, retail hodlers, retail traders and whales. The retail hodlers will keep on holding their coins on an offline wallet which will have no positive effect on the price. Retail traders will keep on trading the waves up and down and their actions will have the most effect on the price. Then there are the whales who are only interested in medium to long term plays. Their actions have significant impact on the price but they do not buy until the price has bottomed out. Even then, they buy smartly, using most new retail investors as fodder.
The Market is fluctuating constantly from 15-20% both between green and red from last week, but the up and down of market is not a worry for TRON. This is what Justin Sun tweeted 17 hours ago:
It’s just a matter of time that when the market settles Tron (TRX) is gonna skyrocket in cryptocurrency. With the positive developments up ahead under the leadership of Justin Sun, it seems like TRX is just preparing for a real rally that might surprise many in the crypto community in the months to come.