Tron gains on FCAS rankings as Bitcoin continues to dominate

  • 01 July 2019, Monday, 11:30

The cryptocurrency market has had several features added to it over the years, in an effort to ensure that the industry complies with certain norms and that cryptocurrencies can be used in accordance with their own unique advantages and use cases.

On July 1, it was revealed that according to CoinMarketCap, the cryptocurrency data aggregator, the Justin Sun-led Tron was ranked number 5 on the Fundamental Crypto Asset Score [FCAS] metric. The FCAS evaluates factors such as developer activity with a broad set of transaction data. The data also showed that Tron had garnered a score of 861, which was only 26 points away from the 887 acquired by Bitcoin.

Carylyne Chan, Head of Global Marketing at CoinMarketCap, had previously stated that metrics will be a way to give users a more transparent view of how digital assets are evolving. She said,

“If I am a new user coming in with more tools and fundamental analysis like FCAS the focus will be more holistic as opposed to only looking at the front page with the price.”

Although Tron was well placed on the rankings, it was still behind its rival Ethereum which had a score of more than 880. Tron proponents however, claimed that the score was a good starting point for a cryptocurrency that has been regularly called ‘valueless’ and a ‘marketing gimmick.’ The FCAS system aims to be comparable with the price-to-earnings ratio used to analyze traditional stocks.

Tron has worked on the principle of advancing its applicability and use-cases, as well as increasing the number of tie-ups and partnerships. In the latest DApp weekly report, the Tron Foundation had announced,

“The number of #DApp has increased by 10, reaching 495. DAU has decreased slightly and stayed around 51K. The total volume of transaction marked around 97M USD. Other data remained stable. #TRON #TRX $TRX”