Why TRON Blockchain Users May Continue To Rise Throughout 2021 – NewsLogical

In the last few days, there has been an increasing number of TRON blockchain users as Tether transactions around the crypto space spike massively. The TRON community may want to thank Etheruem for this result.

Ethereum remains the second-largest cryptocurrency by market cap, and it houses more than 50% Tether tokens. However, skepticisms are rife about the potential of Ethereum’s mainstream adoption as its transaction fees upsurged by almost 400% since the start of 2021.

TRON, on the other hand, seems to be taking good advantage of this situation, offering an excellent alternative with a very cheap transaction fee.

All things being equal, a rise in Tether transaction volume would lead to a linear upswing in the usage of Ethereum blockchain. Nevertheless, the reverse is the case. People are being dissuaded by the high transaction fees.

Data from CoinMetrics confirms that TRON has recorded more Tether transaction volumes than Ethereum in the year 2021. This can easily be linked to the high transaction fees on Ethereum as TRON offers only fractions of a cent per transaction.

Ethereum transaction fee this year went as high as $6 per transaction. The introduction of decentralized finance (DeFi) in 2020 largely contributed to the increase in transaction fees on Ethereum blockchain. Earlier in May 2020, the transaction fee on Ethereum reached a notable level, and a similar event is happening now.

Since mainnet, TRON founder Justin Sun vowed to make TRON a big competitor of Ethereum in the blockchain industry. In August 2020 when TRON released its DeFi plan which was similar to Ethereum’s, and CEO Justin Sun said it was a strategy to bring more transactions to TRON Blockchain.

On several occasions, Sun urged developers and users on Etheruem blockchain to switch to TRON for a better user experience.

Records confirms that TRON is making inroads in the blockchain industry in terms of transaction volumes. TRON is gradually attracting users to its blockchain network with series of heart-warming appeals. Nevertheless, the sum of all transactions performed on Ethereum blockchain with Tether token remains largely above that of TRON.

The year 2021 is predicted to feature the crypto bull cycle. While the increase in price and demand of Ethereum cryptocurrency is a major cause of the recent high transaction fees, speculations are that Ethereum may continue to battle the high transaction fee crisis for the whole of 2021 while TRON takes advantage.

Source link