Tron (TRX) Surpasses Ethereum (ETH) 230.6% By Key Metric: Details

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As a seasoned researcher with a background in blockchain technology and digital currencies, I have closely monitored the developments within the crypto industry for years. The recent data published by @lookonchain regarding the significant surge in transaction count on the Tron network compared to Ethereum has piqued my interest.

Expert: The analytics account @lookonchain on the widely used X social media platform has shared new findings. According to their data, there’s been a noticeable surge in activity for Tron compared to Ethereum, the second largest blockchain.

Tron beats Ethereum in transaction count

The significant surge in Tron’s growth indicates that its practical applications are rapidly increasing. On the other hand, Ethereum has gained recognition from the financial sector with the long-awaited approval and commencement of trading for spot Ethereum ETFs on major stock exchanges.

As a researcher, I’ve discovered that Tron has significantly outpaced Ethereum in terms of total transaction numbers. Specifically, there have been approximately 8.1 billion transactions on the Tron network, while Ethereum has seen about 2.45 billion. This represents an astonishing increase of over 230.6% for Tron compared to Ethereum.

Over 8.1 billion transactions have been processed on the Tron Network, surpassing this milestone. Likewise, Ethereum has handled over 2.45 billion transactions in total.

— Lookonchain (@lookonchain) July 24, 2024

Based on my extensive experience in the cryptocurrency market and working closely with blockchain analytics tools, I can confidently say that the data I have recently obtained from Etherscan through @lookonchain reveals some intriguing insights into the current state of Tron’s network. Over the past 24 hours, there has been a staggering increase of approximately 6.4 million transactions on this network, with a total transfer volume amounting to an impressive $13 billion. This represents a significant surge of over $16 billion compared to the previous day’s figures.

As an analyst, I would interpret the data as follows: The transaction count on Tron’s blockchain has surpassed Ethereum’s primarily due to the widespread use of the USDT stablecoin on both platforms. The lower transfer fees associated with USDT-Tron compared to USDT-Ethereum have encouraged a higher volume of transactions, leading to this shift. Notably, daily trading volumes for USDT-Tron now outpace that of Visa, reaching $53 billion versus Visa’s $42 billion.

Ethereum ETFs start see first big inflows

Expert: James Seyffart from Bloomberg has shared information regarding the inflows into the spot Ethereum Exchange-Traded Funds (ETFs) on their inaugural trading day last Tuesday. The aggregate inflows for this day amounted to a substantial $1.112 billion. Amongst these, BlackRock’s ETHA ETF attracted the most investment, with a total intake of $266.5 million.

The reporting by Santiment’s on-chain data platform indicates that the launch of ETF ETHW attracted $204 million. Furthermore, there has been a significant rise in public interest and discussion surrounding Ethereum, ETFs, Ethereum spot, and the ETHW asset itself. Additionally, the value of Ethereum relative to Bitcoin has risen by 3.4%.

On an extraordinary day, the social buzz surrounding keywords such as “Ethereum,” “Spot,” and “ETF” has reached unprecedented levels. Within the past 24 hours, Ethereum’s price in relation to Bitcoin (ETH/BTC) has risen by 3.4%. The bullish trend for Ethereum, crypto’s second-largest market cap asset, is expected to continue and gain even more momentum among traders.— Santiment (@santimentfeed) July 23, 2024

According to Anthony Pompliano, a well-known figure in the Bitcoin community and venture investor, the inflow of funds into Ethereum Exchange-Traded Funds (ETFs) may not reach the same heights as those observed for spot Bitcoin ETFs following their launch in January. He expressed uncertainty about the Ethereum ETF market, stating that “the Ethereum ETF story is not clear.”

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2024-07-24 12:20