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Tron (TRX) Dapps’ Q1 Volume Reached $1.6 Billion Thanks To Gambling

Tron’s dominance within the dApps space has seen its volume of daily activity rise sharply over the last year. In 2019, the network has registered over 432,000 users, leading other dApp platforms by hitting a record $1.6 billion worth of activity in Q1 alone. A new report now shows that most of these volumes are […]

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Tron’s dominance within the dApps space has seen its volume of daily activity rise sharply over the last year.

In 2019, the network has registered over 432,000 users, leading other dApp platforms by hitting a record $1.6 billion worth of activity in Q1 alone.

A new report now shows that most of these volumes are derived from dApps in the gambling niche. According to a study by analytics platform Dapp Review, 64 percent of the decentralized applications on the Tron blockchain offer gambling-related games.

Users on the Tron network can access gambling dApps such as digital dog racing or a game in “farm investment” that lures participants with an incentive such as a 100 percent return.

Dapp Review notes that gambling games drove Tron’s dApps volume in the first quarter, with most of it rising in March. For instance, March 15 saw more than $102 million transacted- beating EOS’ estimated $16 million and Ethereum’s $4 million in daily dApp volume.

Tron launched its ICO in 2017 and migrated from the ethereum blockchain in June 2018 after its mainnet went live at the end of May that year. Justin Sun and the Tron Foundation then spearheaded an aggressive growth strategy that included courting Ethereum dApp developers.

At the same time, EOS also overtook Ethereum for the number of dApps after the latter’s ballooning fees forced developers to shift.

As per Dapp Review’s estimates for Q1, 2019, 27.6 percent of Tron-based decentralized apps offer casino activity. About 17.7 percent are in the gaming niche, while a leading 36.3 percent of the dApps are in the “high risk” category of gambling games.

In contrast, gambling-related dApps on the Ethereum network account for just 37 percent (in both categories of casino and “high risk” games).

For the benefit of users, a “high risk” gambling game is one that has virtually no gameplay, with a smart contract used to determine eventual payouts. Source: Dapp Review

Sun has reportedly played a leading role in driving the dApps agenda of the Tron network. Even though the Tron Foundation has been on record discouraging the launch of unauthorized gambling dApps, several developers have reported receiving rewards of up to $10,000 worth of Tether (USDT) for building games.

While acknowledging the rewards, a Tron spokesperson noted that the said funds were from the Tron CEO’s personal accounts and not from Tron’s coffers.

Developers across the crypto and blockchain ecosystem are likely to persist with a move towards gambling portals, and Tron may account for most of these thanks to Sun’s efforts.

TRX has benefitted from the surge in gambling dApps, buoyed by a steady contribution from the Tron developer community.

Doubts have however persisted regarding Tron’s capacity to sustain this growth longterm. According to the CEO of Dapp Review Vincent Niu, it’s fine to be less optimistic about the platform’s overall future projections.

Niu reportedly told Coindesk that “most of the users [of Tron dapps] are just fake accounts.” He, however, believes it’s going to be different for Ethereum given that a growing number of people continue to work on “token standards and other infrastructures.”

He also noted that an analysis of dApp transaction data shows that it is possible some users only use the dApps as an avenue to acquire TRX tokens, particularly those in jurisdictions that do not allow the purchase of TRX using fiat.

Ruslan Marinov, the founder of one of the casino dApps on the Tron blockchain 888tron, believes that the support the Tron Foundation gives to developers makes it a great choice for gambling or gaming dApps.

All the prize money the foundation pours into developers pays off more than ten times, with the March 15 surge a likely result of gamers or gamblers cashing out their dApp tokens.


Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.

Source link: Tron (TRX) Dapps’ Q1 Volume Reached $1.6 Billion Thanks To Gambling

Source: https://xbt.net/blog/tron-trx-dapps-q1-volume-reached-1-6-billion-thanks-to-gambling/

Blockchain

Opinion: Can Uniswap’s UNI Break Into the Top 10 Cryptocurrency Token Rankings?

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The launch of Uniswap’s governance token UNI caught the cryptocurrency market left, right, and center. Some folks who received the airdrop for being a loyal Uniswap user before September 1, dumped it on the market to avail their free helicopter money. Some held on.

Nonetheless, UNI got listed on Coinbase Pro, Binance and it’s price shot through the roof. It’s now on number 32 as per CoinGecko. But can it break into the top 10?

UNI Token Price Pumps, Dumps Then Again Pumps

As reported by CryptoPotato, the listing of UNI on Coinbase and Binance led to a massive pump in the token’s price. UNI surged 300 percent from $1 to $4 before dropping to the lower $2 levels later in the day.

Then, the token went on a rampage and reached a high of just shy of $9 before retracing to where it’s currently trading at around $6.7. But the explosive price action has generated tremendous enthusiasm amongst traders and DeFi fans who are calling for UNI’s break into the top 10.

So much is the frenzy that users were found to buy ETH to collect their ‘UNI helicopter money’ despite surging gas prices on the Ethereum network.

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Can Uniswap’s Governance Token Break Into Top 10?

Since the launch and a super volatile bout of trading activity, Uniswap’s governance token is already a number 32 cryptocurrency according to data from CoinGecko.

Uniswap is currently the top DeFi project according to DeFi Pulse. And has assets with a total USD value worth $1.8 billion docked up in the DEX. An increment of 90 percent in the last 24 hours.

UNI has a $720 million market cap and is handling a $4.5 billion daily trading volume. Something which is unusual for a digital asset at such lower rankings. But according to hopium laced optimistic predictions on Twitter, the token will actually be a ‘unicorn’ cryptocurrency with its entry in the top 10.

And actually there may be some substance in such a claim as out of a maximum supply of 1 billion, only around 106 million UNI tokens are in circulation. The coin is trading currently for a price of $6.7.

It must be taken into consideration that Coinbase has an equity stake in Uniswap’s parent company Universal Navigation Inc and also holds a sufficient number of UNI tokens, as mentioned in their UNI token listing blog post.

This imparts a certain dose of legitimacy to the decentralized token swapping protocol. As per CoinGecko with current prices, UNI would have a ‘fully diluted valuation’ of more than $6.5 billion. That would be enough to push it comfortably amongst the top 10 cryptocurrencies.

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Source: https://cryptopotato.com/opinion-can-uniswaps-uni-break-into-the-top-10-cryptocurrency-token-rankings/

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DeFi in healthcare – a slice of over $8 trillion worth pie

DeFi has the potential to be a solution for many problems existing in the healthcare industry It can provide easier and more affordable access to financing It is the future of the healthcare industry The ongoing Covid-19 pandemic is a global healthcare problem. It is showing that the problems of such scale demand solutions on […]

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  • DeFi has the potential to be a solution for many problems existing in the healthcare industry
  • It can provide easier and more affordable access to financing
  • It is the future of the healthcare industry

The ongoing Covid-19 pandemic is a global healthcare problem. It is showing that the problems of such scale demand solutions on the same level.

The problems of shared access to the latest medical advancements and knowledge are not alone. A financing solution that is globally available is also necessary.

In recent months the expansion of telemedicine shows the trend for the healthcare industry moving online. Solutions for financing medical services are currently lagging behind.

DeFi potential role

In the modern world, it is considered that access to affordable healthcare is a basic human right. That it should be irrespective of class, wealth, or any other socioeconomic distinctions.

Such democratic universalism of services can be powered by DeFi, which is based on the very same principle. The need for easy access to healthcare services is global, and if properly applied it can provide a globally accessible way of financing them.

Opportunity for growth

The global healthcare market was worth mind-boggling $8.45 trillion in 2018, with projected growth to $11.9 trillion by 2022. And DeFi has a definitive opportunity to take a slice of this pie.

Currently, the whole of this industry is estimated to be worth just south of nine billion dollars. It can provide solutions that will give an astounding growth potential inside of the healthcare industry.

DeFi is based around community governance, community funding, and the principle of transparency. It has the power to provide financial solutions that will expand the accessibility to affordable healthcare around the world.

Projects based around DeFi solutions have the power to bring the most benefits to those who need them, the community. Groundwork already exists, now it should be built upon and grown to scale.

DeFi has the power to remove almost all barriers currently existing between people and affordable access to healthcare. It is the future of healthcare.

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Cardano, Ontology, Crypto.com Coin Price Analysis: 19 September

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Cardano formed a bearish pattern on the charts as it braced for another dip in its price. The bearish pressure on the crypto-asset abated briefly, but sellers once more stepped in at a level of resistance to effect a slide for ADA. Crypto.com Coin, on the other hand, formed a bullish pattern. Ontology also displayed signs of bullishness.

However, since major altcoins seem to bleed whenever Bitcoin makes a move to the upside or down, another move could invalidate altcoin chart patterns.

Cardano [ADA]

Cardano, Ontology, Crypto.com Coin Price Analysis: 19 September

Source: ADA/USD on TradingView

Cardano appeared to form an uptrend from its recent lows as it briefly rose past its resistance at $0.097. However, sellers have prevailed since and the price was forming lower highs over the past week.

ADA formed a descending triangle pattern, as shown by the white line. This was accompanied by falling trading volume, also highlighted by the same. Such a bearish pattern signaled an imminent drop in the asset’s price.

The next level of support for ADA, beneath $0.091, lay at $0.085.

Cardano was in the news recently when IOHK announced a $250K public fund for Cardano community innovation, Project Catalyst. “Anyone can bring their idea and create a proposal,” the announcement said. “Through a public vote” winning proposals will begin a development process, it added.

Ontology [ONT]

Cardano, Ontology, Crypto.com Coin Price Analysis: 19 September

Source: ONT/USD on TradingView

The 20, 50, and 100 SMA (white, yellow, and pink respectively) showed that the past couple weeks have seen an uptrend. Their crossovers also indicated bullishness in the near-term.

Further, the MACD was forming a bearish crossover over the past few days. And yet, the previous week saw every price drop beneath this support being bought up as many candles near the $0.78-support level had significant tail wicks.

The outlook for ONT remained bullish, but a close beneath the support might suggest short-term bearishness.

Crypto.com Coin [CRO]

Cardano, Ontology, Crypto.com Coin Price Analysis: 19 September

Source: CRO/USDT on TradingView

Crypto.com Coin was forming a bull pennant on its 4-hour charts. The same was evidenced by the white lines which formed the pennant, while the yellow line formed the flag pole of the pattern. The height of the flagpole is generally the upside target for this pattern. Here, the target would be $0.19.

The Parabolic SAR also gave a buy signal. The dots formed by the indicator would be a good place to set a stop-loss, as the pattern would be invalidated if the price closes beneath the pennant.

Source: https://eng.ambcrypto.com/cardano-ontology-crypto-com-coin-price-analysis-19-september

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