The networks Tron(TRX) and Ethereum (ETH) are competitors within the cryptoconomy. The ETH is older than TRX and they both share similar goals and do similar things.
Both Ethereum and Tron are striving to be the world computer. They both are used in decentralized finance (DeFi), decentralized apps (DApps) and permissionless systems for token creation (ERC20 & TRC20).
Let us dive deeper into analysis, so as you to decide which one is better.
1. Transaction Counts
As of May 27, 2021, Coin Metrics data shows that BTC and ETH roughly processed 228k and 1.3m onchain transactions, whereas TRX saw a total of 3.2m transactions in the 24 hour period. TRX has been consistently above both BTC’s and ETH’s combined daily average.
2. Stable Coin Usage
ETH and TRX have tokens that represent the stablecoin tether(USDT). Statistics from Tronscan and Etherscan on 27 May 2021, shows that there’s 32 billion USDT and 27 billion USDT held on the Tron network and ETH chain respectively. The dominance of ETH has been overcome by TRX in the stable coin usage.
3. Market Action
Tron is trading for $0.0815 per coin and is still down 64.7% from its all-time high (ATH) of $0.23.
Ethereum is trading for $2835 per coin, which is 35.3% down from its ATH of $4,356.99.
4. Trade Volume
Trade volume data from Messari shows the reported volume and “real volume” for TRX is around $1.9 billion and $419 million respectively, in the last 24 hours.
Reported volume and “real volume” for ETH is around $39 billion and $12 billion respectively.
Although ETH is in a dominant position now, TRX has all the qualities of claiming that spot in the coming times.
Disclaimer: The article is intended for informational purposes only and should not be considered as investment advice. All the prices and data referenced in this article were recorded on May 27, 2021.
Image credits: Coin Metrics, Etherscan, Tronscan
