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Cryptocurrency News Articles
TRON (TRX) Becomes the Fastest Blockchain in Transactions Per Second (TPS), Surpassing Bitcoin (BTC), Ethereum (ETH), and Polygon (MATIC)
Oct 05, 2024 at 07:00 pm
TRON became the fastest blockchain in Transactions Per Second, according to CryptoQuant's latest data. On-chain data visualization is showing the superiority of TRON over the major blockchains of Bitcoin, Ethereum, and Polygon.
CryptoQuant’s latest data shows that TRON has become the fastest blockchain in terms of Transactions Per Second (TPS).
On-chain data visualization reveals the superiority of TRON over major blockchains like Bitcoin, Ethereum, and Polygon.
While Bitcoin processed 7 TPS, Ethereum handled 14 TPS, and Polygon managed 30 TPS, TRON maintained an impressive 85 TPS.
What sets TRON apart is its consistent transactional reliability, which is largely driven by the increasing usage of stablecoins.
In fact, 96% of all transactions on the TRON network are related to stablecoins, highlighting their role in the rapidly evolving world of cryptocurrency.
Stablecoins Drive TRON’s Performance
Interestingly, while Bitcoin and Ethereum are frequently discussed in blockchain conversations, stablecoins have quietly become an essential part of the ecosystem.
This is evident in their market performance, especially in terms of transaction volume dominance.
The TRX network often experiences the highest transaction load, primarily driven by stablecoin transfers.
The network’s performance showcases how stablecoins enhance the utility of the blockchain by offering price stability and liquidity.
For many, stablecoins are considered even more revolutionary than Bitcoin due to their potential for everyday transactional use.
This makes TRON one of the most practical blockchain options for users seeking fast and stable transactions.
TRON Price Movement and Future Outlook
Despite the network’s success in handling high transaction volumes, this cryptocurrency still faces challenges in aligning with the broader market’s bullish sentiment.
After surging 22% in mid-August to break above its range, TRX has since pulled back to consolidate around the $0.144 level.
However, despite this brief pullback, key indicators remain positive for TRX.
The RSI for TRX has remained positive, while the On-Balance-Volume (OBV) continues to trade significantly above previous highs set in May, indicating strong buying pressure.
Traders are watching for potential liquidation levels at $0.152 and $0.158, anticipating the possibility of a bullish reversal at $0.16.
For long-term holders, some ambitious targets include $0.20 and $0.223.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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