On 26 March, 2019, the total number of transactions on the Tron blockchain hit an all-time high as it processed 4.27 million transactions in a period of 24 hours.
Misha Lederman, a prominent member of the Tron community, tweeted,
“#TRON processed 4,27 million transactions over the past 24 hours, setting a new record for the #TRX blockchain
This is a significant milestone achieved by the @Tronfoundation & showcases TRON’s ability to scale & smoothly process an enormous amount of Txs.”
The previous all-time high witnessed by Tron was on 16 January 2019, when the number of transactions hit 3.56 million. The rapid growth in transactions was due to the rate of addition of new users to the Tron community. The address growth for Tron also reached an all-time high, reaching 2.252 million users. The number of new users also increased by 15,118 in a day.
In comparison, ETH only processed 1.349 million transactions on 4 January 2019, which was its all-time high. However, the number of transactions processed on the Ethereum blockchain has significantly reduced since its peak. There were 820,098 transactions being processed on the Ethereum blockchain, at press time.
The total number of users added to Ethereum blockchain also fell from its all-time high of 355,726 to 106,750, at press time. This explained how Ethereum was losing its users to other blockchains that allow users to do similar functions, like Tron and EOS.
At press time, Tron was the eleventh largest cryptocurrency in the world. The price at the time of writing was $0.02312 and the market cap was $1.54 billion.
Although there have been massive developments in the Tron community, the price of TRX hasn’t been affected by it. The price fell over the month of February and March. However, the price was picking up pace at press time and was up by approximately 5% in over the past 24 hours, despite dropping by 10% in the past two days.
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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.