Could More Active Accounts Boost TRX's Price?
Earlier today the Justin Sun, cryptocurrency entrepreneur & founder of TRON took to Twitter for an announcement. While this has been somewhat commonplace for Sun, who is known for his promotion of TRON, some announcements bear greater weight than others.
On Twitter he revealed that TRON has crossed 5.7 million accounts.
According to @TRONSCAN_ORG, the total number of accounts on #TRON has surpassed 5.7 million and reached 5,731,366. The TRON ecosystem is growing at a steady pace, we welcome more developers and users to join our community. #TRX $TRX pic.twitter.com/4lLFJTGK9eâ Justin Sun (@justinsuntron) May 4, 2020
The image within the tweet is somewhat interesting. It shows that within the past 14 days, the number of transactions has declined slightly, while the number of accounts has risen by 200,000. Should the rate of new accounts continue the same trajectory, 6 million accounts should be roughly 2 weeks away.
Accounts and Why They Matter
It is near impossible to tell how many users own these accounts or how active they are due to the way the blockchain operates. Despite that, an increase that big in users does seem to indicate that more users are opening TRON wallets.
The growth in users could be linked to the new Samsung Galaxy S20 which has a built-in wallet that supports Bitcoin (BTC), Ethereum (ETH), and TRON (TRX). Additionally, the Galaxy S20 supports some TRON-based dApps.
Samsung's S20 launched earlier this year on the 6th of March, while the S10 integrated TRX last October.
Essentially having more users is healthy for the TRON ecosystem. It could signify adoption and use of TRON and the dApps in the ecosystem. The transaction history should eventually grow and correlate with the user growth eventually.
This seems to be a cautiously bullish sign for TRON.
Written by Jonathan Ganor
Writer & cryptocurrency aficionado