- The Tron (TRX) network is close to a new milestone of 1 Billion smart contract triggers.
- Tron Dapps continue to be popular with Justin Sun aiming at the DeFi industry.
- The market performance of TRX mirrors the developments at the Tron project.
The Tron (TRX) network is inches away from a new milestone of 1 Billion smart contract triggers. At the time of writing, smart contracts on the Tron network have been triggered 928,739,657 times. The potential of Tron achieving this feat was also highlighted by the project’s founder and CEO, Justin Sun, via the following Tweet.
According to @TRONSCAN_ORG, Smart Contract Triggers on #TRON network has surpassed 900M and reached 926,324,931.
Guess when will we hit 1000M😎#TRX $TRX pic.twitter.com/q9P76FIcIG
— Justin Sun 🅣🌞 (@justinsuntron) July 31, 2020
Tron DApps Continue to Be Popular
Tron’s smart contract triggers heading to 1 Billion can be attributed to the popularity of DApps on the network. A quick glance at DappRadar.com reveals that five out of the top ten most used DApps are on the Tron network. Furthermore, the majority of the top 50 DApps ranked on DappRadar, are also built on the Tron network.
Justin Sun and the Tron Foundation Focus on DeFi
In the DeFi ranking category of DappRadar.com, the Just (JST) platform tops the list ahead of popular Ethereum based DeFi platforms such as Synthetix, Compound (COMP), MakerDAO (MKR) and Aave (LEND). Below is a screenshot of the DeFi ranking category on DaapRadar.com.
Also to note is that back in July, Justin Sun announced that the Tron Foundation will be launching the Tron version of Uniswap this month. The Tron based platform, dubbed ‘JUSTswap’ will be launched on August 17th with Yield Farming to be launched on August 31st. Justin Sun made this announcement via the following Tweet.
3 exciting decisions were made today! 1) #TRON's version of Uniswap "JUSTswap" will launch on Aug 17th 2) #USDJ & #JST yield farming will launch on Aug 31st & 3) #TRON will officially launch blockchain oracle soon!! #TRX $JST
— Justin Sun 🅣🌞 (@justinsuntron) July 21, 2020
TRX Market Performance Mirror’s the Development at Tron
Taking a quick glance at the market progress of Tron, it can be concluded that TRX was on a bullish trajectory before today’s early morning dip. Before the latter event, Tron (TRX) had just experienced a local peak of $0.02135. The digital asset then dropped to the $0.01750 support level before bouncing back to its current value of $0.01940.
To note is that Tron (TRX) had dropped to as low as $0.00681 during the Coronavirus crash of mid-March. This, in turn, means that Tron has recovered from the mid-March dip and provided over 3x returns for anyone who was quick to buy the dip back then.