In the world of top altcoins like ETH and ADA, altcoins with small market capitalization will have little chance of proving their worth. However, if they do, it will be worth everyone’s attention.
One such altcoin is Tron (TRX), the brainchild of Justin Sun. This coin is forecast to do particularly well in the coming days due to its recent price volatility.
TRX 4-Hour Price Chart | Source: Tradingview
While Tron can’t claim to be the top chain just yet, it certainly does, getting bigger every day. And especially in the last 10 days, the platform has exploded.
Surprisingly, the network passed the 60 million account mark a few days ago and reportedly also made 2.5 billion on-chain transactions notification on 3/11.
Additionally, in terms of the reach of the network, Tron has partnered with the APRNFT Foundation to fund $ 100 million in NFT projects.
But the main news came on November 4th when Bittorent, which is owned by Tron, was integrated with Binance Smart Chain. This allows users to transfer most assets between Tron and BSC without any restrictions.
However, it seems that investors were expecting this integration as the Value Locked (TVL) in Tron rose by $ 2.2 billion in a 24-hour period on November 3 a week ago.
DeFi-locked value on Tron | The source: DeFi Lama
Plus, the recent growth could also be the result of the launch of Tron’s newest credit protocol, JustLend, which launched with nearly $ 2 billion in TVL. Therefore, it is currently the sixth largest DeFi blockchain.
It’s pretty interesting that Tron dethroned both Fantom and Polygon in terms of TVL DeFi in just one day.
Tron is also doing well given investor behavior and on-chain performance. The network has had a higher number of active addresses than Ethereum, Cardano and Ripple since the beginning of this year.
At the same time, almost three times more transactions were recorded than at ETH, ADA and XRP.
Number of transactions | Source: Coinmetrics
However, the recent growth could not compensate for the poor performance of the year, which is why the ROI remains relatively low.
Compare the ROI | Source: Coinmetrics
While Tron may appear to be crushing its competitors, keep in mind that all of the protocols on the network are named after Justin Sun.
Ideally, Tron could climb the charts, but it still needs solid market performance. Again, however, in this unpredictable market, it is impossible to be absolutely certain that Tron will prove to be a competitive chain.
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Minh Anh
According to AMBCrypto
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