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In letter :
- On April 19, the Tron network recorded its biggest daily increase in new accounts.
- This feat was noticed by a senior member of the Tron community.
- Justin Sun was taken aback by the sudden increase.
- However, that could be due to the Just Token Scale (JST) next month and the allure of TRX staking.
The Tron Network (TRX) has continued to function well since the launch of its mainnet in mid-2018. Additionally, the total number of accounts on the network has reached 5.353 million at the time of writing.
Tron posts biggest daily increase in new accounts
In a tweet a few hours ago, Tron community member @MishaLederman, informed the crypto community that the TRX network saw its biggest daily increase in new accounts on April 19. The tweet then gave the following statistics regarding the achievement.
the #Tron blockchain recorded its biggest daily increase in new accounts yesterday April 19: 65,226 new $ TRX accounts (+ 1.2% daily increase compared to all 5.3M #TRX accounts) This is also 61% higher than the previous daily high of 40,386 on February 28, 2019.
Justin Sun baffled by increase in new Tron accounts
In response to @MishaLederman’s tweet, Justin Sun expressed his surprise at the achievement. He further stated that he had no idea why crypto enthusiasts suddenly decided to start using Tron. His tweet can be found below.
I don’t know why ppl suddenly start using #TRON. #TRX $ TRX😆 https://t.co/wOMvddgpYr
– Justin Sun🌞 (@justinsuntron) April 20, 2020
2 reasons: just staking and selling tokens (JST)
However, there are two plausible reasons the network experienced a sudden spike in new accounts.
first, and as noted in a previous analysis, Tron Staking (TRX) has continuously become a profitable business in today’s uncertain times. Average returns are between 7-8% per annum, which is very appealing to anyone who wants to avoid trading the current environment of the crypto market.
Secondly, the Just Token Sale (JST) takes place on the Poloniex Exchange on May 5. The exchange will only accept TRX as a method of entry. This means that any willing participant will need to open an account with Poloniex and purchase or deposit TRX if they wish to enjoy the benefits of the IEO.
Conclusion
The Tron Network (TRX) continues to grow as evidenced by the historic daily increase in new accounts highlighted by Mr. Lederman. As a result, Justin Sun expressed his surprise at the sudden increase in the number of new users. However, two logical reasons come to mind. Users want to use staking on the Tron network and participate in the IEO Just (JST) which takes place on Poloniex. Moreover, it could also be a Tron DApp which suddenly became popular. Only time will provide the proof of this latter theory.
(Featured image courtesy of Jungwoo Hong on Unsplash.)
Warning: This article is not intended to provide financial advice. Any additional opinion herein is solely that of the author and does not represent the opinion of Ethereum World News or any of its other authors. Please do your own research before investing in any of the many cryptocurrencies available. Thank you.
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