Ethereum, Litecoin lead the charge as speculation about new ‘alt season’ rises

The cryptocurrency market at the moment is enjoying a relatively positive run, with a majority of the coins providing good yield after Bitcoin broke the $9000 barrier. While Bitcoin has stolen the show in 2019, it would also be safe to say that other altcoins have done their part as well. One altcoin on the […]
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Source: AMB Crypto

Economist calls out JP Morgan analyst for incorrectly equating Bitcoin’s intrinsic value to its mining cost

Bitcoin’s recent spike above $9000 has been the talk of the town, with several analysts and proponents of the cryptocurrency vouching for its revival. In a series of tweets, Alex Kruger, a popular economist, spoke about the entry of institutions into the Bitcoin ecosystem and how the switch from retail investors was beneficial to the cryptocurrency market.
Kruger’s tweet read,
“JP Morgan analyst acknowledges what has been relatively obvious for about two months already: it is mostly institutions behind the bitcoin bull-run, rather than retail investors, as it was during the 2017 mania.”
This comment was made in relation to a recent article that spoke about how BTC’s surge was thanks to the dominance of institutional investors. The analyst in question, Nikolas Panigirtzoglou, had previously claimed that over the past few months, Bitcoin trading volumes had risen to $445 billion in April from a 1Q19 average of $220 billion per month. This was followed by an increase in May, clocking at a massive $725 billion in terms of trading volumes on cryptocurrency exchanges.
Kruger pointed out that Panigirtzoglou was wrong because of the analyst’s earlier claims that Bitcoin’s intrinsic value was determined by its correlated mining cost, an incorrect fact. Kruger inquired,
“This same analyst a month ago wrote about how bitcoins’ intrinsic value is determined by its mining cost (which is incorrect) and how bitcoin was at the time trading above intrinsic value (overpriced). How much do these bankers get paid to be late or wrong?”
Kruger added that Bitcoin’s cost of production follows the market price and “not the other way around.” When the price of BTC goes up, the cryptocurrency becomes more profitable to mine. Therefore, more miners start digging for blocks which increases the block rate. To keep all parameters in equilibrium, mining difficulty adjusts itself and increases the cost of production.
The cryptocurrency market has been on a price ramp since BTC’s rise on Sunday, with the cryptoverse abuzz since then. At press time, Bitcoin was trading at $9146, with a total market cap of $162.48 billion. The 24-hour trading volume was a healthy $21.42 billion, with the ‘king coin’s’ resurgence contributing to the rest of the market moving to greener pastures.
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Source: AMB Crypto

Bitcoin’s open interest begins to spike as research shows BTC trades shoots up at start of the week

Bitcoin, the world’s largest cryptocurrency has not just seen a rise in price and market cap but also in various other attributes. These rises together contributed to BTC’s current standing on top of the chart with a market cap much higher than $150 billion.
According to new reports, the open interest of Bitcoin is also on the rise with hopes that the parameters will go up again once Bitcoin’s price reaches closer to the psychological $10,000 level. This mark was last achieved on 7 March 2018, and the latest bull run has played a role in pushing Bitcoin’s fortunes into the positive realm. The current analysis of Bitcoin’s open interest showed that the spike in magnitude has been consistent, holding near the 76,000-mark.
Just recently, Bitcoin futures contract also displayed a strong Volume/Open Interest on the event of its contract expiry. Alex Kruger, a popular financial market analyst had stated that:
“Bitcoin is the second most heavily traded asset at the CME when measured by the volume / open interest ratio. In other words, bitcoin is an asset very actively traded throughout the day.”
The rise in Bitcoin’s open interest rate comes at a time when the cryptocurrency has been vying to breach the $9000 mark again. Skew, a Bitcoin analysis website also added:
“The 10,000 strike is the largest open interest on the upside for the upcoming June options expiry on the 28th – ~1,700 bitcoin options contracts open.”
The rise in Bitcoin’s individual sectors went hand in hand with another analysis that informed users that the maximum amount of BTC trade occurred at the start of the week, ie. Sunday and Monday. The daily and hourly breakdown of the trades showed that on an average Sundays saw $183.5 million worth of Bitcoin trade while Monday one-upped it by witnessing BTC trade worth $197.5 million on average. This research was a counter-argument to all those who believed that trades hit a low point during the weekends.
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Source: AMB Crypto

Facebook’s Global Coin splits community as major Bitcoin proponents speak out on busy Friday

Facebook’s jump into the cryptocurrency space was a piece of news that sent shockwaves throughout the Fintech industry. Ever since its reveal, Facebook’s Global Coin sparked a debate between its supporters and critics on whether the cryptocurrency would be a boon or a bane for the mass adoption of digital assets.
The latest supporter of Facebook’s crypto project was Grayscale Chief Executive Officer Barry Silbert, who tweeted:
“The launch of Facebook’s cryptocurrency will go down in history as THE catalyst that propelled digital assets (including bitcoin) to mass global consumer adoption. Will be remembered as just as important — and transformative — as the launch of the Netscape browser. Buckle up”
Another popular opinion shared by the community was that the emergence of the social media giant’s cryptocurrency will pose a challenge to the United States Dollar, giving customers the option to choose a commodity that is suitable for fast and safe usage. Rhythm, a popular Bitcoin and blockchain enthusiast elucidated:
“Facebook’s coin will cause everyday people to pause and begin to question the properties of the US Dollar. That alone is a benefit to not just bitcoin, but the financial system as a whole. And as we all know, once you begin to question it, all roads lead to bitcoin.”
The cryptocurrency community’s split on GlobalCoin has led to attacks on Facebook CEO Mark Zuckerberg as well, whose reputation took a hit when Facebook’s privacy leak scandal took place. This sentiment was also shared by Charlie Shrem, Bitcoin evangelist and the Founder of BitcoinFoundation.org, who was against Facebook’s policies and GlobalCoin’s core idea. He said:
“I’m just gonna say it.
I think the “FacebookCoin” is an attempt by big tech, banks and credit card companies to lure people away from #Bitcoin into their “better, easier, crypto”, which is nothing more than a fiat coin being masqueraded as crypto.
Millions will be fooled.”
GlobalCoin was also in the news recently when Ran NeuNer, the host of CNBC’s Crypto trader called Mark Zuckerberg an ‘unelected dictator’. Although the launch date for the cryptocurrency is still under wraps, GlobalCoin has gained enough traction to force the entire cryptoverse to sit up and take notice.
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Source: AMB Crypto

Bitcoin’s ‘sweet spot’ a major reason for investment uptrends, claims Grayscale’s latest research

The cryptocurrency market has been showing positive signals since the latest bull run lifted the price and market cap of Bitcoin and, in turn, rest of the coins. In a recent compilation of data by Grayscale, the Barry Silbert-led organization touched on the cryptocurrency investments and developments during the first quarter of 2019.
The organization stated that its total Assets under Management [AUM] was calculated to be $1.2 billion, just slightly more than Coinbase, which had crossed the $1 billion AUM mark last month. The organization claimed that there was a 42 percent upward trend in product inflows every quarter-over-quarter. The report added:
“Grayscale experienced a 42% uptick in product inflows quarter-over quarter, from $30.1 million in 4Q18 to $42.7 million in 1Q19. Notably, hedge funds ramped up their investments substantially, from less than $1 million in 4Q18 to approximately $24 million in 1Q19.”
Grayscale’s research further pointed to Bitcoin’s prominence in the investment domain, by analyzing the king coin’s new found “sweet spot”. According to the report, the cryptocurrency market was on the verge of adopting a new “risk-on” mentality where investors were taking the plunge into not just Bitcoin, but other digital assets as well.
Bitcoin’s uptrend was also catalyzed by the approaching third BTC “block reward halving” scheduled to take place in May 2020. According to the company’s release:
“Historically, block-reward halvings have helped drive above-average returns for Bitcoin in the years that follow. Some investors may be questioning if this event is fully priced into the market yet, and building long positions as a result.”
Taking the historical data of Bitcoin halvings into account, it was noted that after each halving the price of BTC appreciates. This was made evident from the previous examples at November 2012, November 2013, July 2016 and the latest halving that occurred in July 2017.
The latest research from Grayscale comes on the back of another report titled “Heading Global Liquidity Risk with Bitcoin” which compared the effects of global events on assets like Bitcoin. Grayscale opined that:
“… it [Bitcoin] has a distinct set of properties, unlike any other asset. Through this unique mix of properties, Bitcoin has the potential to perform well over the course of normal economic cycles as well as liquidity crises, especially those involving currency devaluations.”
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Source: AMB Crypto

Ethereum Classic is a ‘hybrid’ between Bitcoin’s philosophy and Ethereum’s technology

The cryptocurrency market has been rife with comparisons of several cryptocurrencies and their use cases. This has been restricted to not just top coins, but also ones with lower ranks. Recently, Donald McIntyre, an Ethereum Classic [ETC] proponent and ‘Trust minimization maximalist,’ stated that ETC is philosophically the same as Bitcoin and technically the same as Ethereum.
The article said,
“The alignment with Bitcoin philosophy is hence, that ETC is a blockchain that prioritizes the integrity of the blockchain above any other interests. By “integrity” it is meant the immutability of the state, which contains the ledger with property and agreements.”
McIntyre added that ETC was a “hybrid” between Bitcoin’s philosophy and Ethereum’s technology, making ETC “incredibly unique, global, cross border and permissionless.” Some other features quoted by the ETC advocate was that the cryptocurrency was Turing complete, immutability focused and was based on the famous Proof-of-Work [PoW] system.
The opinion of a lot of Bitcoin proponents has shifted from the crypto being a ‘method of transaction’ to it being a ‘store of value.’ This ideology was also shared by Blockstream CSO Jimmy Song who said,
“So, I think Bitcoin can be everything. It’s just what is it best for at the base layer, right now it’s a store of value and wealth transfer. So, you can move hundreds of million dollars for very cheap relatively; right like, 200 million for five dollars or for a dollar. that’s possible with Bitcoin. so it’s still gonna be functioning like that at the base.”
Ethereum’s technology has also been the talk of the town with a lot of mainstream companies tapping into its inherent functions. Ernst and Young had also taken the crypto-plunge recently by choosing ETH to launch their own zero-knowledge proof technology.
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Source: AMB Crypto

Bitcoin worth over $150 million transferred from Coinbase to unknown wallet; community speculates foul play

Bitcoin has had a pretty active 2019, with major price fluctuations pulling the price of the world’s largest cryptocurrency up, while also pulling up the prices of other cryptocurrencies. Post the rise in value of the world’s largest cryptocurrency, many transactions and transfers of significant amounts have taken place. A recent transfer of Bitcoin worth $3.25 billion had put a spotlight on the BTC ecosystem once again, with users interested in the industry taking a deeper look at the transfer market.
Recently, Whale Alert, a cryptocurrency transfer alert website, revealed that 18,899 BTC worth $153.44 million had taken place from the Brian Armstrong-led Coinbase to an unknown wallet. The transfer held a hash of cbc24d99af76c969b037ebd3824a0e9b6794e423e261a and the Coinbase address was 3Qy5mTpumWh24f5UdwGPJEhStoD3A25fK9. The unknown wallet possessed 4 different addresses, with the transfer settling at 0.302 BTC, 1999.89 BTC, 9899.89 BTC, and 6,999.85 BTC. The transfer had a time stamp of 22:51 UTC on June 12.
The transfer was spoken about by C3|Nik, a popular cryptocurrency proponent, who tweeted,
“18,900 Bitcoin were transferred to Coinbase a few hours ago.
An easy way to freak out some people who interpret these kinds of transactions as an impending “dump”.
A few hours later, a total of 18,900 are transferred out of Coinbase again in three separate transactions. Fake.”
The transfer was speculated by many members of the community to be a way to get the market moving again. However, looking at the charts, it is clear that BTC’s price moved consistent to what it was doing over the past couple of days. C3|Nik added,
“The market did not react much. It seems like a lot of the people who interpret these transfers as legitimate learned their lesson …. or got liquidated.”
One Twitter user viewed this as an opportunity to air his concerns, commenting,
“Why does Coinbase let 18,900 BTC move in and out so easily, but when I want to move a measly $500 worth, I have to wait a week?”
The crypto-proponent’s opinion was shared by a majority of the Bitcoin community too, with many claiming that the digital asset industry needs to be more mature for sustainable growth and development.
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Source: AMB Crypto

Bitcoin’s volatility rates fall as daily returns move away from ‘extreme behavior’ territory

Bitcoin [BTC] has had a remarkable recovery since the start of the year, with significant positive growth in both price and market cap.
Analysis of the coin’s prices and returns show that Bitcoin’s volatility declined as monetization of the cryptocurrency increased. Since its inception, the cryptocurrency’s returns have been more evenly spread out, with daily returns shuttling between the ranges of negative 35 percent and a whopping positive 40 percent.
As the years have passed by, it was noted that Bitcoin’s volatility collated into smaller ranges, indicating a switch from extreme highs and lows to a calmer and controlled price movement.
Taking 2019 alone, the chart showed that the returns fell in the negative 10 to positive 10 range, a far cry from the previous lows and highs. The analysis suggests that the returns on the ‘king coin’ this year were mostly governed by the sideways movement carried over from the fag end of 2018.
The bear market’s influence was evident as the probability density of returns fell largely in the single digit area. We can use this data to make the case that Bitcoin today, is moving more and more towards the ‘store of value’ asset category, rather than being just a speculative trading commodity.
Despite the clamp being formed in terms of returns, Bitcoin has still managed to climb slowly and steadily on the price charts with some peaks providing more returns than mainstream commodities like gold and the S&P 500. Recent research stated that Bitcoin had significantly outperformed the S&P 500 in terms of long-term returns and risks attained.
The data stated that since 2013, any investment that comprised of 5 percent Bitcoin and 95 percent fiat currency gathered more returns and less risk than the S&P 500. Bitcoin’s case was made stronger when it as revealed that during the aforementioned time period, the cryptocurrency was affected by a maximum loss of approximately 5 percent, while the S&P 500 suffered a loss of 6 percent last year alone.
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Source: AMB Crypto

LocalBitcoin’s volume resurgence holds steady, despite Iran pullout

LocalBitcoin, the peer to peer cryptocurrency exchange, has been in the news multiple times recently due to its regulatory involvement and region-specific rollbacks. The latest addition to LocalBitcoin’s growing repertoire of data was contributed to by Mati Greenspan, eToro’s Senior Market Analyst who spotted the increase in LocalBitcoin’s global volumes. His tweet read,
“Global volumes @LocalBitcoins
If you ignore the 2017 crypto summer bubble, the direction of the trend is quite clear.”
Source: Coin Dance
The chart from Coin Dance shows a clear uptrend in volume, even when disregarding the anomaly of 2017. LocalBitcoin’s rise can be attributed to its growing popularity in South American countries such as Venezuela. In the month of January alone, the Nicolas Maduro-led country recorded a trading volume of 6,347 BTC, followed by a volume of 10,315 BTC in February. LocalBitcoin use by Venezuela stood out because of the dire economic conditions in the country right now, which has caused the native Bolivar to dip and inflation reach an all-time high.
LocalBitcoin’s growing popularity comes in the wake of regulatory pressures from various countries. The Finland-based exchange first came under the scanner when the country’s Financial Supervisory Authority [FSA] decided that LocalBitcoin will see several additions to its customer verification process. This was followed by the latest cancellation of services by LocalBitcoin in Iran, with officials close to the company claiming that regulations were the main reason for the rollback. One of the company’s representative had stated,
“[….] Well, obviously right now, there are quite many regulations coming […] even though we’re a company acting under Finnish law, we have users from all over the world and sometimes for some regulatory reasons we might stop servicing in certain countries […]”
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Source: AMB Crypto

Bitcoin: Majority of electricity used for BTC operations comes from renewable resources

The concept of Bitcoin [BTC] mining has always been looked at like an evil spawn by many mainstream industries and its proponents. But a new report from Coinshares has quashed that notion by stating that 74 percent of the world’s BTC mining operations were driven by renewable energy. The report said:
“We calculate a conservative estimate of the renewables penetration in the energy mix powering the Bitcoin mining network at 74.1%, making Bitcoin mining more renewables-driven than almost every other large-scale industry in the world.”
The report added that the total electricity draw of the entire Bitcoin mining industry was approximately 4.7 GW, an estimate similar to that done in November 2018. The only difference from the November 2018 analysis was that miners had used 20 percent more electricity for system cooling purposes. The release further stated:
“Meanwhile, the current amount of energy required for hashing alone is estimated to be ~4.3 GW, up from 3.9 GW in November 2018. This result is also broadly in line with a ~25% increase in hashrate and a ~10% increase in gear efficiency. On an annualised basis, we estimate that the network currently draws the equivalent of ~41 TWh.”
The report clearly elucidated that there was a general energy mix patterns amongst miners, including both fossil fuels and renewable energy sources. Based on the usage, miners were split into two different categories, the first category covering those miners who use hydroelectricity while the others included those that didn’t. According to the report, some regions had a mix of fossil, solar, nuclear and wind generations sources while Asian regions such as Iran and Xinjiang used coal with the addition of wind energy.
One negative point cited by the report was that there was actually a 4 percent drop in the usage of renewable resources when compared to the 78 percent recorded back in November 2018. Coinshares informed:
“We currently estimate that 60% of global mining happens in China, and that Sichuan alone produces 50% of global hashrate, with the remaining ten percent split more or less evenly between Yunnan, Xinjiang and Inner Mongolia.”
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Source: AMB Crypto

Tron’s 24-hour DApp volume zooms ahead of both Ethereum and EOS

The cryptocurrency market has undergone a significant shift in character after the latest bull run that caused the price of the coins as well as their market cap to increase significantly. One beneficiary of this market phenomenon was Tron [TRX], as the cryptocurrency was given a boost in its mission to conquer the DApp world. Justin Sun, the Chief Executive Officer [CEO] of the Tron Foundation recently tweeted:
“According to @dapp_review, #TRON #Dapp 24h volume has reached $11.8 M (355M #TRX) which already surpassed that of #ETH and #EOS. #TRON onward.”
The analysis by DApp review showed that the top 12 DApps on the Tron blockchain generated a user count of more than 42,000 in a 24-hour cycle. Just as earlier reports had shown, gaming DApps dominated the Tron blockchain over the usual suspects like gambling applications. Tronbet generated almost 70 percent of the total $11.8 million 24-hour volume, contributing $8.923 million.
At the same time, Ethereum clocked in approximately 12,000 users on its Dapps, which was just slightly more than a quarter of Tron’s haul. Ethereum DApps also generated a 24-hour volume of around $4.5 million with the biggest contributor being FCK with $1.713 million.
EOS, which had dominated the DApps scene before Tron went full throttle surprisingly had the highest number of users among the three, with more than 120,000 users on the platform. Despite this advantage, EOS DApps only generated a 24-hour volume of $9.4 million, still lesser than that of Tron’s.
Tron added another feather to its cap recently when the Foundation announced its integration with the Loom network. Tron’s official statement said,
“Today we’re proud to announce that the TRON integration is officially live - making this the second chain we’ve integrated into PlasmaChain after Ethereum.”
Tron’s DApp dominance was put on show earlier too when research stated that Tron was the fastest growing commodity when compared to Ethereum or EOS. Tron reportedly added 60,000 users while Ethereum and EOS added 25,000 and 9,000, respectively.
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Source: AMB Crypto

Ripple’s David Schwartz defends XRP against BTC’s ‘mediocre finality and censorship resistance’

The launch of cryptocurrencies from mainstream institutions has been the norm of the digital assets industry for some time now and the Mark Zuckerberg-led Facebook’s Global Coin has been front and center with regards to that. A recent article by Yahoo Finance that stated Facebook’s GlobalCoin would  “annihilate Ripple” was doing the rounds on Twitter and even caught the eye of Ripple’s Chief Technology Officer, David Schwartz.
The article quoted the words of ‘Bitcoin expert’ Max Keiser who had claimed that the Facebook global stablecoin obviates the need for hundreds of altcoins ‘including XRP’ and that the altcoin apocalypse was high. To this, Schwartz retorted:
“I love opinions about XRP that don’t show any evidence of having any understanding of XRP. This is just bitcoin minimalist thinking that there’s bitcoin and everything else.”
This comment led to an all-out debate between Schwartz and Noryn SYra, a cryptocurrency enthusiast, who wanted Schwartz to admit that  Ripple was a permissioned system, a statement denied by the Ripple official. The debate continued when Syra claimed that validators have to choose who to put on the Unique Node List and if a user was not on someone’s UNL then the ‘validator does not mean anything’. Schwartz replied:
“I don’t see how you can square that fact with the fact that there is no way to tell whether your validator is on someone else’s UNL or not and the system works precisely the same whether it is or isn’t.”
Ripple’s ‘trillion dollar man’ continued:
“Think of it like mining except you don’t get rewarded and can’t censor. Why does it matter who is doing or not doing it at that point. It’s permission … to what?”
The computer scientist further pointed out that the one problem that users cannot solve with the public state was ordering valid transactions received at about the same time. He added that no one really cared about that properly as long as it worked unhindered. David Schwarz concluded the Twitter thread by stating:
“Bitcoin costs millions of dollars a day to solve this problem and it gets mediocre finality and mediocre censorship resistance. We solve it for nearly nothing with better finality and censorship resistance. You respond that you need “permission” to have no affect on the network.”
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Source: AMB Crypto

Bitcoin’s [BTC] ‘store of value’ property boosted by finding that suggests 60% of all BTCs haven’t been moved in a year

Supporters of Bitcoin [BTC] have always made it a point to inform others of the main advantages associated with cryptocurrency, rather than just its price and market dominance. Cryptocurrency’s ‘store of value’ property was brought up again recently after Rhythm, a Bitcoin supporter, tweeted,
“60% of all bitcoins have not moved in one year.
That’s 10.5 million bitcoin being held as a store of value for the last 12 months.
Bank accounts will become as rare as land lines are today.”
The findings suggest that Bitcoin’s prowess lies in its ability to create a transactional ecosystem, rather than act as a method of payment. This idea had been previously forth by a lot of BTC proponents, including Nate Geraci, President of ETF Store, who had said that Bitcoin trumps Gold as choice of store of value among millennials. In his words,
“When we talk to our younger clients, we have a core allocation in our portfolios and they’ll ask about that and say well, what about crypto?And if you talk to primarily millennials and ask them which they prefer, Bitcoin or Gold? its a landslide!”
Garci wasn’t the only person supporting Bitcoin’s ‘store of value’ cause, as he was joined by Jimmy Song, a Bitcoin Core developer who compared Bitcoin to traditional investment assets like real estate. He further equated BTC to the US Dollar, stating that in several countries, Bitcoin was held above the US Dollar.
Despite the bid to pip gold as the industry standard for a store of value, several millions worth of Bitcoin have been transferred between exchanges and wallets recently. On June 6, almost half a billion dollars’ worth of BTC was moved between a couple of unknown wallets, transactions which included popular exchanges like Bittrex and Bitfinex.
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Source: AMB Crypto

CME Bitcoin [BTC] Futures scale new heights as bullish run yields results

Bitcoin’s [BTC] recent bullishness has not only had a positive impact on its price and market cap, but also on all its connected entities. This was reflected in recent reports that revealed CME volumes were up by 36 percent since April 2019, and had witnessed a year-on-year growth of 250 percent.
The CME Group revealed that this was the first time since its launch that the product has performed this well, with many users in the ecosystem taking the announcement as a positive sign. After analyzing the chart, it is evident that May 2019 saw the number of CME contracts shoot up to 13,604, completing the 250 percent Y-o-Y turnaround. The resurgence was again made clear when 2019 opened with an 80 percent increase in the number of contracts.
Source: theblockcrypto.com
CME Bitcoin Futures during May 2018 were still on a high after the bull run towards the end of 2017, clocking in 3931 contracts as the average daily volume and 2535 contracts as the open interest. The amount of CME contracts in May approximately amounted to a whopping $515 million in notional USD traded volume, and the number of contracts left unsettled saw all-time highs of 4602 total contracts. The new report comes in the wake of previous reports that suggested that the CME Group had posted losses in Q1 of 2019.
In a notice to all its investors, CME had said,
“CFE is assessing its approach with respect to how it plans to continue to offer digital asset derivatives for trading. While it considers its next steps, CFE does not currently intend to list additional XBT futures contracts for trading.”
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Source: AMB Crypto

Tron’s [TRX] DApp dominance over Ethereum [ETH], EOS put on show as 3-month growth rate is calculated

Tron [TRX], the Justin Sun-led cryptocurrency, has had a rollercoaster of a bull run, with the coin climbing into the top 10 club for a short stint, before dropping out within a few hours. Despite this setback, Tron has seen a marked shift with respect to Decentralized Application [DApp] development, offsetting the hold held by the Vitalik Buterin-led Ethereum and EOS.
The latest analysis by DApp review shows that over the past three months, Tron has added 223 DApps into its ecosystem, a 92 percent growth that saw the number of DApps jump from 242 to 465. Its closest competitor was EOS, which recorded 117 DApps being listed in its roster, completing a 27 percent hike in the number.
Sun has always made it a point to inform users that Tron will perform better than Ethereum and that seems to have paid dividends in the DApp ecosystem. Ethereum included 186 DApps to its blockchain over the past 3 months, and its 11 percent growth paled in comparison to Tron’s 92 percent.
Tron has had its fair share of critics with Aman Bains, a cryptocurrency enthusiast commenting,
“The standard of dapps on tron is so dull it is making blockchain look legacy technology.They need to focus more on quality than quantity. The exit scams on tron like daily whales ? Y no action was taken by Justin sun was he too busy making chicken hongkong for his dinner with WB.”
Tron’s DApp prowess has been on show for the past couple of weeks now and this was also exhibited by the organization’s weekly reports. DApp review had also pointed out that Tron’s dominance was not just exclusive to the number of DApps, but also extended to its growth rate. The Tron Foundation tweeted,
“According to @dapp_review, as of May 27, new #Dapps on #TRON #Blockchain accounts for 31.4%, which is the fastest growing one compared with new #Dapps of other chains in last week. #TRX $TRX”
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Source: AMB Crypto