- The amount of Wrapped Bitcoin on Tron now stands at 15,000
- This number is a 5x increment in less than a month
- BTCTRON now has 2,468 holders and users have transacted 46,397 using the digital asset
- Transactions on the Tron network have now exceeded 1.3 Billion
This past week and when Bitcoin was breaking the $14k and $15k price ceilings, the amount of Wrapped BTC on the Tron (TRX) network was also growing. At the time of writing, there is exactly 15,000 BTC on Tron (BTCTRON). This amount is five times higher than the 3,000 BTCTRON that was available in late October. This milestone was highlighted and shared via Twitter by the project’s founder and CEO, Justin Sun.
In the day #Bitcoin reaches 15k USD, the amount of #Bitcoin on #TRON reaches 15k in the same time! Total market cap is 15,000*15,000=225,000,000! https://t.co/b9pxRQEw6p pic.twitter.com/FrswG6xS14
— Justin Sun 🅣🌞 (@justinsuntron) November 5, 2020
A quick look at Tronscan reveals that BTCTRON currently has a total of 2,468 holders and the digital asset has had a total of 46,397 transactions on the Tron network. Additionally, BTCTRON currently has a market cap of $232.3 Million using Bitcoin’s current value at around $15,500.
Additional Tron Network Milestones
Furthermore, the Tron network has now settled over 1.3 Billion transactions with the total number of TRX accounts exceeding 13.7 Million. Justin Sun highlighted this milestone and urged blockchain developers to join the ever-expanding Tron ecosystem. Mr. Sun had this to say regarding the growth of the Tron network.
According to @TRONSCAN_ORG, the total transactions on #TRON has surpassed 1.3 billion and reached 1,305,468,928. The TRON ecosystem is growing at a steady pace, we welcome more developers and users to join our community. #TRX
Tron (TRX) is Still Battling the $0.026 Resistance Area
In terms of market performance, Tron (TRX) is still struggling to break the $0.026 resistance level after briefly dropping to $0.023 due to Bitcoin pumping in the crypto markets. At the time of writing, Tron (TRX) has regained a bit of its value and is trading at $0.02574.
Tron’s fortunes in the crypto markets are very much tied to that of Bitcoin. If the King of Crypto pumps hard during the weekend, TRX is bound to either stagnate or lose value as capital is diverted to BTC by traders. If Bitcoin also falls hard during the weekend, TRX will also drop in value. Therefore, Bitcoin consolidating will be the ideal environment for TRX to break the $0.026 resistance level.