Although Tron is far behind Ethereum with regards to market capitalization – Tron has a market capitalization of around $1.5 billion dollars, while Ethereum boasts a market capitalization of over $20 billion – it has now surpassed Ethereum in terms of daily transactions on its own network. Justin Sun commemorated the milestone in a tweet, clarifying that “it’s just the beginning”.
The tweet gained a lot of traction in the cryptocurrency community, gaining over 1,000 retweets and likes within a short period of time. Specifically, on October 18, Tron had over 599,000 transactions, while Ethereum had over 596,000 transactions. He tweeted again today was that this is the second day that Tron has surpassed Ethereum in terms of daily transactions.
This is huge news for the cryptocurrency, that still lingers at the #11 cryptocurrency position by market capitalization, just outside of the Top 10 coins. This comes off the heels of many in the cryptocurrency community criticizing the fact that Tron had touted a Baidu partnership that many believed to be misleading, stating that all Tron had done was purchase cloud computing services from the Chinese search engine giant.
The founders of each cryptocurrency have gone back and forth on Twitter before, as well. Several weeks ago, Vitalik Buterin, founder of Ethereum, took to Twitter to state that he believed that there was no opportunity for the kind of immense 1000x growth in the cryptocurrency markets before. Justin Sun responded that “time will tell”, and reiterated his belief that the “entire world wealth will turn into cryptocurrencies”.
Justin Sun has also been vocal about his encouragement for developers to utilize the TRON virtual machine, even tweeting that “we are 100x faster than #ETH and fully compatible with #ethereum”. Vitalik disagreed with this characterization, and responded to the tweet as well.