Ethereum vs Tron: Comparing Data, Defi and Stablecoins from Both Chains After Viral Tweet

On February 7, Cold Card and Opendime creator, Rodolfo Novak (also known as NVK), tweeted a picture of himself with Tron founder Justin Sun and Blockstream’s CEO Adam Back. Novak said “Ethereum was over” and the three had a plan to move Tron to Liquid, a network that leverages the BTC chain. Whether the tweet was a joke or not, the picture got the crypto community fired up and it initiated heated debates about the legitimacy of both Tron and Ethereum.

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ETH and TRX Community Debate After Viral Tweet

One could consider the crypto networks Tron (TRX) and Ethereum (ETH) competitors within the cryptoconomy. While the ETH network is older than TRX, they both have similar goals and do similar things. As Ethereum strives to be a “world computer,” Tron aims to accomplish this feat as well, but with more of a focus on entertainment. They both leverage concepts like decentralized finance (defi), decentralized apps (dapps) and permissionless systems for token creation (ERC20 & TRC20).

Ethereum vs Tron: Comparing Data, Defi and Stablecoins from Both Chains After Viral Tweet

When Novak tweeted about moving TRX to the Liquid network, lots of people considered it a joke, while others took the tweet very seriously. Despite what people think about Tron or Ethereum, news.Bitcoin.com decided to look at the two networks to see how they both compare as far as onchain data, market statistics, development, funds locked in defi, and both project’s social media ratings. We want to let our readers decide which project is better by weighing the pros and cons of each crypto without all the opinions.

Tron vs. Ethereum: Stacking Up the Data

On February 7, 2020, Coin Metrics data shows the BTC chain processed roughly 333,000 onchain transactions. ETH saw a total of 626,000 transactions in the 24 hour period while TRX did around 816,000 on Friday. While ETH has been consistently above BTC transactions per day, TRX has also been consistently above ETH’s daily average.

Ethereum vs Tron: Comparing Data from Both Networks After Viral Tweet
As far as onchain transactions (txn) are concerned, the Tron (TRX) network processed (814,000 txn) the most transactions on February 7, 2020. This is followed by ETH transactions (626,000 txn), which outpace the BTC daily average of 300,000 transactions.

Both Ethereum and Tron have tokens that represent the stablecoin tether (USDT), but the ETH chain has a whole lot more. Statistics from Tronscan on Saturday show that there’s 814 million USDT held on the Tron network. Today’s data stemming from Etherscan indicates there’s a whopping 2.2 billion USDT leveraging the ETH chain.

Ethereum vs Tron: Comparing Data from Both Networks After Viral Tweet
Ethereum has far more weight in tether USDT with 2.2 billion issued on the ERC20 standard. Tron has been gathering USDT as well but only has 814 million tethers on the network. ETH also has stablecoins like TUSD, USDC, and PAX.

As far as stablecoin usage is concerned, Ethereum outpaces Tron by a long shot, as the chain also has other stablecoin tokens like PAX, USDC, and TUSD. But it’s true that both networks have seen more tethers migrate to each blockchain during certain periods of 2019. In fact, as far as funds locked into defi, Ethereum takes the cake when it comes to decentralized finance and centralized finance (cefi) applications as well, with projects like Maker, Compound, and Instadapp. Defi applications on ETH touched a milestone on February 6, when the total value locked (TVL) surpassed $1 billion.

Ethereum vs Tron: Comparing Data from Both Networks After Viral Tweet
The Ethereum community just celebrated a milestone by surpassing $1 billion TVL in defi.

Where market action and fiat value are the focus, tron (TRX) is trading for $0.02 per coin and the cryptocurrency is still down 92% from its all-time high (ATH) of $0.30. Ethereum (ETH) is swapping for $224 per coin at the time of publication, which is 84% down from its ATH of $1,431. Against USD over the last 12 months, TRX is down 18% and against BTC the crypto is down 69%. With ETH the crypto has gained 86% against the U.S. dollar in a year but against BTC it is still down 30%.

Ethereum vs Tron: Comparing Data from Both Networks After Viral Tweet
Ethereum (ETH) prices on February 8, 2020. ETH is down 84% from its $1,431 ATH.

Trade volume data from Messari shows the reported volume for TRX is around $203 million in the last 24 hours, but Messari’s “real volume” index indicates there’s only been $49 million in TRX trades. As far as ETH is concerned, reported trade volume on Saturday is roughly $3.5 billion, but again Messari’s “real volume” index shows less at $349 million. Tallying up the aforementioned statistics shows that ETH was a better investment over the last year, it has more liquidity, and trade volume as well.

Ethereum vs Tron: Comparing Data from Both Networks After Viral Tweet
Tron (TRX) prices on February 8, 2020. TRX is down 92% from its $0.30 ATH.

As far as yearly Github activity, coincheckup.com data shows that Tron has outpaced ETH development during the last 12 months in regard to tallied…

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