In the midst of this severe market collapse, which occurred, in large part due to the Bitcoin Cash (BCH) lawsuit, the total market cap of crypto market has fallen below $110 billion. Specifically, today, at the time of writing this article, Bitcoin (BTC) recorded a new 52-week low of $3,300.
Both EOS and Ethereum are seeing losses of over 13%. EOS is the worst performing coin among the two, in the top-10 and also in the top-30 cryptos. EOS [EOS] has plunged against the US dollar by 23.13% and trades at $1.69. Its competitor Ethereum (ETH) has lost 16.64% and was trading at nearly $86 at the time of writing this article, the lowest price point since April 2017.
In terms of DApp, TRON did extremely well, exceeding the DApp volume of Ethereum in mid – November. According to the DApp review, IDEX, the most successful DApp on the Ethereum network has a 24-hour transaction volume of 2450 ETH transactions, while Tronbet has more than 422 million TRX.
To further push the DApp volume on the TRON platform, the foundation launched the $ 1 million competition TRON Accelerator, which would enable developers to build their DApp on TRON.
#TRON will build a fund to rescue #ETH and #EOS developers from the collapse of their platform as long as those developers migrate their dapps to #TRON. #TRX $TRX
— Justin Sun (@justinsuntron) December 7, 2018
The DApp ecosystem of TRON will be further boosted by the two-day niTROn Summit in January 2019. On the second day of the summit, the developers will organize a forum to promote the creation of an ecosystem around the blockchain. The forum covers super representatives, the development of apps / intelligent contracts, the development of game engines, public chain research and much more.
Earlier this week, pointing financial difficulty and weak market conditions, ETCDEV, the Ethereum Classic [ETC] development team terminated its operations. The announcement follows a trend of crypto-sector based start-ups closing down shops due to the bearish market.