Tron has not been able to break its all-time high of 2018 but despite that, it is considered to be one of the top cryptocurrencies in the market. The cryptocurrency has been on a price rally during November but the bulls soon failed for the token and it delved into market corrections. At the time of writing, TRX token stands at a price level of $0.08 with the price still under corrections. In the daily timeframe, the price of the cryptocurrency has seen some stability – indicating towards a possible trend reversal. Tron is the twenty-fourth largest cryptocurrency in terms of capitalization. 

What is Tron? 

Tron is one of the largest blockchain-based operating systems in the world. The aim of the network is to facilitate the true decentralization of the internet. It is a high-throughput and highly scalable blockchain. The transaction processing speed of the network has surpassed that of the market leaders – BTC and ETH – by a large margin. It is a complete ecosystem that has a lot of products and services – each aimed at helping the network realize its larger aim. The TRX ecosystem has a wallet, an explorer, decentralized exchange, a platform for decentralized applications, and sidechains including BitTorrent – one of the largest decentralized file sharing platforms. 

The Tron ecosystem also plays a large emphasis on the content sharing and entertainment industry. Under the broad industry of entertainment, the project has divided its goals into six categories – each focusing on a significant aspect of the larger market. 

Ecosystem updates 

Tron had recently acquired BitTorrent and the CEO Justin Sun has ambitious plans for the transformation of BitTorrent. The team recently released the roadmap for BitTorrent and it has the potential to become the star product of the TRX ecosystem. After the launch of the mainnet in November, BTTC network added support for a wallet, explorer cross-chain bridge and staking. The BTTC virtual machine is designed to facilitate interoperability in the cryptocurrency market.   

Moreover, the largest decentralized exchange on Tron – SunSwap – recently underwent an upgrade which is geared towards improving the efficiency of the DEX. The SunSwap V2 will allow users to add liquidity to trading pairs of tokens on the TRX blockchain. Furthermore, a new router path has been integrated which will eliminate the need of TRX as an intermediary for token swaps. Users also don’t have to worry about liquidity migration from the older version to the newer version of SunSwap as the team has enabled one-click liquidity migration which removes all the hassle. 

The Tron ecosystem is growing at a phenomenal pace and the development team is working hard to position the cryptocurrency at a crucial juncture in the crypto market. The average daily transfer volume of stablecoins on the network has reached $7.9 billion during the previous week – indicating good growth.