The volatile nature of the cryptocurrency markets reared its head again as almost every other digital asset turned red on the 24-hour charts Tuesday.
Among the top 10, only EOS, Cardano (ADA), Stellar (XLM), and TRON (TRX) were trading in the green over the last 7 days.
In this group, TRX was the best with +37.48% while EOS trailed with +24.05%. This is a perfect illustration of how the market has been over the weekend, turning bearish without warning.
Nevertheless, EOS and TRX continued to defy the market in the morning, gaining about 3% each before the momentum petered out like the rest in the market. Why have EOS (EOS) and TRON (TRX) had such a good run of it in the market? Can they sustain it long-term?
EOS vs. TRON: Platforms
The EOS and TRON platforms are shaping up to be great platforms in the crypto space. The two ERC-20 projects will soon step up the ladder to become full blockchains on their own. What does each seek?
EOS seeks to transform and decentralize the cryptocurrency trading industry by providing a platform that makes it easy and cheaper to trade and exchange crypto assets. On the other hand, TRON aims to decentralize the web and revolutionize the gaming industry.
Whereas TRON offers a platform for content creators and opens up the internet to a decentralized world, EOS seeks to leverage blockchain to offer users with a decentralized storage platform as well as smart contracts for various applications.
EOS vs. TRON: Mainnet Launch among other developments driving stellar performance.
These two cryptocurrencies have had great returns over the last few days and the good news for holders of both coins is that the best could yet come.
EOS will have its mainnet launch on June 2, two days after TRON does. That should provide the excitement among investors as the dates approach. That is a big day as EOS drops the ERC-20 tag to become a “stand-alone” blockchain. Like TRON below, this crypto is also looking towards the election of its supernodes in preparation for the mainnet. These “block producers” have attracted several big names in the industry creating a lot of optimism. These block producers may end up having names like Bittrex, Huobi and mining giant Antpool.
When TRON broke into the top ten for the second time in 2018, Justin Sun asked TRX investor to HODL, an indication that he believed in the future value of the coin.
The upcoming Mainnet on May 31, 2018, will provide another impetus to push the value of TRX up. Already investors have been informed on what to do as they prepare for the network migration that will take place towards the end of June.
Apart from the mainnet launch, TRON, like EOS, is also preparing to elect its Super Representatives in June. With several big name players on the ballot, the future looks great for TRX.
EOS vs. TRON: Market and price
EOS is ranked 5th on CoinMarketCap and is currently trading at $17.05. Tron, on the other hand, is ranked 9th ahead of NEO and is currently trading at $0.08. Over the last 24 hours, the EOS token has surged by -9.32% while TRON’s value over the same period has dropped by 6.68%.
At the moment, TRON is leading the top 10 cryptos in the market in terms of 7-day price movements. Like we have seen on the chart above, TRX has a slightly higher +37.48% compared to EOS which has a +24.05% increase.
Even though TRX trumps EOS in the 7-day gains section, the reverse is true when it comes to all the other sections of the market. That includes the daily trading volume where a total of $3.5 billion worth of EOS tokens had been traded by the time of press today.
This is higher by $2 billion compared to $1.4 billion worth of TRX tokens traded. It’s amazing that the two projects have managed to reach over a billion worth of tokens traded, putting them in the top four. EOS is second on the log, behind Bitcoin which has traded $8.4 billion worth of BTC. TRX is fourth, behind Ethereum that has traded $2.7 worth of Ether.
EOS (EOS) and TRON (TRX) are great blockchain projects that could go on to deliver great results both for their community of investors and the public. EOS looks a better proposition for now, but TRON could prove irresistible in the future, especially if the obvious Alibaba connection leads to a deal. I’d say both can complement each other well in any given portfolio.