TRON (TRX) Ready to Launch BitTorrent Live Service
The TRON project continues to expand, but the TRX market price remains depressed.
The TRON (TRX) project prepares to branch out with a new product, BitTorrent Live. The protocol, based on the BitTorrent technology and the BTT token, will allow for uploading and streaming live video.
The TRON project remains one of the most active competitors in the crypto space, easily lining up among the leaders based on reported network usage, distributed app creation, and smart contract calls.
However, the TRX market price remains depressed, sinking toward $0.015 in the latest sell-off for altcoins. TRX trading volumes are a bit below $500 million’s equivalent in 24 hours, with Tether (USDT) inflows of about $21 millions’ equivalent in 24 hours.
The TRON network activity, however, remains high, as the network reports more than 1.6 million transactions in 24 hours, based on Blocktivity data. This rate is second only to EOS, which reports more than 52 million transactions. The high level of activity, however, may be misleading. Both networks depend on delegated nodes, and it is possible for nodes to send free, limitless transactions between each other, to boost the score.
Still, TRON has relatively robust distributed app performance and 3.5 million registered accounts, thus positioning itself as a high-capacity network. In the past, the TRON network has attempted to compete with Ethereum (ETH), and has managed to do so, with additional SunNetwork and DappChain solutions rolling out in the past month. At the same time, Ethereum once again faces near-congestion, as projects compete for resources.
According to the TRON team, the much-awaited Crypto Lunch, where Warren Buffet will meed Justin Sun and other crypto leaders, is still scheduled. However, there is no set date for the event. The lunch, initially scheduled for July 25, was postponed as Sun excused himself with a kidney crisis. The move generated controversy around TRON, with suggestions that Sun is unable to leave China.
Later, the TRX market price started another series of losses, sinking from the $0.027 level down to the current price, approaching 12-month lows. TRX sank to as low as $0.011 during the worst weeks of the bear market in late 2018.