Today has been a good day in the cryptocurrency world. However, Tron has managed to snatch the number 9 position from BitcoinSV, according to the market capitalization on Coinmarketcap.com.
Tron’s total market capitalization is $1,558,286,427 while BitcoinSV’s total market capitalization is $1,552,070,232 with a difference of $6.216 Million.
According to the CEO of Tron in the name of Justin Sun, he predicted this development in a tweet about 8 hours ago and the tweet says “#TRON will surpass #BSV very soon. My bad @ProfFaustus #TRX $TRX”.
However, there might have been some reasons as to why Tron overtook BitcoinSV (formerly BitcoinCashSV), and also why Tron is doing well in the market. These reasons are as follows;
Over the past few months, Tron has achieved so many things in the market, about 50 DApps was established which are currently on the Tron network. Majority of the DApps on Tron network migrated from the Ethereum Network.
This is because the Tron network does not charge any transaction fees for some of its operations and the Tron network also offers fast speed.
Tron acquired the BitTorrent token which was recently launched. Tron’s aim for acquiring the BitTorrent was to make people know the importance and power of internet. BitTorrent is also one of the few projects on the Binance Launchpad which aims at raising funds for exceptional blockchain startups.
This and many more reasons is why Tron is experiencing a rapid increase in its total market capitalization.