Tron was able to gain positions in the market during this bear trend that started at the beginning of 2018. A few days ago, Tron (TRX) was able to surpass Cardano (ADA) in terms of market capitalization, which is now the 11th largest virtual currency. Every top 10 virtual currency is registering losses in the last 24 hours, with the exception of Bitcoin SV (BSV).
Tron Re-enters The Top 10
Tron is one of the most popular virtual currencies operating in the market. It has been operating among the top 20 during the whole year and it was able to reach now the top ten after several months outside.
But why is Tron performing better than other assets in this virtual currency market? The first thing to mention is that the virtual currency joined Binance Info’s Gold Label Project. This happened back on November 26 and it allowed the virtual currency to remain stronger than other digital assets in the market.
Furthermore, at the end of November, the Tron Foundation has also launched an upgraded version of the Tron mainnet. This new update is called Odyssey 3.2 and it has different new features. For example, it supports TRC10 tokens and it also enabled support of resource delegation.
Additionally, Tron informed that there is a real intention to implement zk-SNARKS and enhance privacy in the network. The foundation informed that the virtual currency could have this implementation as soon as the first quarter of 2019.
Justin Sun commented about it during an interview with the Bad Crypto Podcast:
“First of all, I think that transparency [on the Tron blcockhain] is very important… and also the governance. That is how people have trust in this network. I think privacy is also important for the network. So that’s why I think in next year, Q1, we will adopt the zk-SNARKs into our network.”
zk-SNARKs is a technology that was implemented and developed by the ZCash team. ZCash is also one of the so-called privacy coins in the market alongside Monero (XMR) and Bitcoin Private (BTCP).
The number of dApp transactions and value moved is also an important thing to take into account. Tron has surpassed Ethereum in both the number of active users and transactions processed by the network.
Want to learn more about TRON? Read about how Tron’s transactions have passed other major coins in our in-depth article. You can also read about how Tron’s price was boosted earlier this year with the rumor of a big partnership.