The cryptocurrency market saw an unprecedented rise in prices as Bitcoin [BTC], the world’s largest cryptocurrency, rose from its hold near the $4000 mark to break the $7000 threshold. During this bull run, other altcoins such as Tron [TRX] also received a boost as its 24-hour trading volume increased hand in hand with its price.
Misha Lederman, a popular Tron proponent in the cryptoverse, tweeted,“#TRON just passed 1 billion USD in 24-hour trading volume
Last time #TRX had a 24-hour trading volume surpassing 1 billion USD was on May 1, 2018 – one month before TRON Mainnet launch over a year ago!
Good times ahead for all $TRX hodlers & users.”
Despite the price hike, the Justin Sun-led cryptocurrency was still in the 11th position and was not able to breach the top-10 cryptocurrency club. At the time of writing, Tron held a 24-hour trading volume of $1.142 billion, with a total market cap of $1.927 billion. When compared to the top ten cryptocurrencies, Tron’s 24-hour growth of 9.54% was only second to that of Ethereum’s 10 percent growth.
Sources also revealed that Tron surpassed the $20 million mark amassed from its 425 DApps. A tweet read,“#TRON reaches its highest daily USD volume in months on its 425 DApps, befittingly surpassing #EOS on the eve of #Consensus2019
Also, #TRX 7 day USD volume has risen above $100M”
Tron was also in the news recently after Justin Sun announced that BTT will be officially launched on the Tron network in the second quarter. The Tron Foundation has been very active in its pursuit of bringing in more players to the realm of blockchain, an effort that was extended to the mainstream adoption of BTT. Tron’s CEO had tweeted,“Glad to also announce another tech giant with hundreds of millions of users will be enabling #TRON ecosystem in Q2 as well. Guess who? To be revealed soon on #Consensus2019.”
Multiple Countries Can Now Buy Tron Using Bank Cards, Signifies Justin Sun On Twitter
- Justin Sun gave a new update on the Tron community stating new multiple countries can now buy Tron using bank cards.
- Tron is a decentralized network aiming to provide content and entertainment through its Blockchain support on a global level.
- The decentralized Blockchain network provides massive scalability and is adapted in multiple businesses to their lucrative businesses for efficient functioning.
Justin Sun gave a new update on the Tron community stating new multiple countries can now buy Tron using bank cards. Indonesia, Russia, Japan, Turkey, Germany, UK, France, South Korea, Argentina, and some more countries were given modest options to buy Tron.
They are suing their individual bank cards using the currencies USD, EUR, Russian RUBLE and INR (Indian Rupee) on the specialized platform Latoken, which is a crypto exchange focused on liquidity based tokens. The post on twitter saw positive reviews, while some repliers wanted other countries added on the list as well.
Multiple points of access are a greater advantage for Tron, which can push it much further in its market value. Tron is a decentralized network aiming to provide content and entertainment through its Blockchain support on a global level.
It stands with one of the highest transaction rates on its Blockchain network in the market. The decentralized Blockchain network provides massive scalability and is adapted in multiple businesses to their lucrative businesses for efficient functioning.
Tron has grown sincerely due to its value obtained and global adoption in the market, Tron is favorite among many new market investors due to its liquid nature. It has a current market value of $0.021 and is eager to rise on the market as the bulls are now favoring over Tron to rally.
However, the average is still in the hands of a bear where they rule at -0.98%, although the monthly charts show Bullish momentum. The Return on Investment (ROI) of Tron stands at 965.23% with a market ranking of #15 according to the metrics from CoinMarketCap.
It has gained 3.83% from yesterday’s trade, adding $0.000833 to the previous value at trade. Tron has market capitalization of $1,457,036,881 USD with 24 hour trading volume at $1,779,934,676 USD with a circulating supply of 66,682,072,191 TRX.
TRON Price Analysis: TRX/USD rejected a key trendline
- TRON is trading 2% higher on Tuesday on a good day for the crypto market.
- The price rejected off a key trendline area and now has pushed higher.
TRX/USD 4-Hour Chart
TRON has pulled back in recent session and now we will find out if it was just a retracement or something more serious.
The price had been on a great run of late and reached a peak of 0.02680.
Now the price has pulled back it rejected a trendline on the 4-Hour chart.
More importantly, the 0.0200 psychological level remains intact.
If the bulls are to regain control of this market then a break of 0.02377 would be a great sign.
Tron News Today – Headlines for February 16
- Tron acquires Steemit
- Tron Investors aren’t enthused by the development
- The network hopes the move will add more value to its offering
Tron News Today – Tron, the Justin Sun-led Blockchain network has recently been on a spending spree. The network has been acquiring several major Blockchain-based firms and announcing some notable partnerships. This is part of Tron’s effort to craft more utility around its Blockchain and provide value for its native coin the TRX token. The most recent addition to the TRON network is Steemit. Steemit is a content sharing platform that offers rewards to its users and influencers when they offer quality content that’s well-received by the members of the forum.
Tron has described the acquisition as highly strategic because it allows the entity to expand it’s list of DApps further because of the sheer number of apps that have been created on Steemits’ blockchain.
Tron Price Responds after the Recent Acquisition
Tron’s latest milestone was announced on Twitter. It was the content sharing platform’s founder, Ned Scott, that noted that after nearly four years of working on his project, the decision to sell to Justin Sun’s Tron came up. The exact details of the terms of Tron’s new acquisition remain unclear but it appears that Tron is still looking to advance the retail adoption of its Blockchain network and native crypto through the new arrangement, with Steemit. The Blockchain firm wants to take advantage of the ongoing growth of Steemit as a fresh catalyst for TRON.
Via another post, Sun discussed Tron’s latest company acquisition. He noted that both entities working together will usher in an era of decentralized social networking. All will be to the benefit of Tron and Steemit. In Sun’s words:
“We are very happy to welcome Steemit to the Tron network. Together we will launch an era of decentralized social networking.”
Investors Aren’t Enthused About the Acquisition
Seemits’ Blockchain STEEM token is currently trading on the red. The coin is down by 12%. Its current price is just under $0.25. It is important to note that this decline comes in tandem with the news about Tron’s foray into Steem’s ecosystem. It is also important to indicate that the decline in the tokens price comes as the entire digital currency market faces less turbulence. However, the move suggests that investors do not believe the partnership will offer much value to Steemit Blockchain.
As the Tron network further unveils its plans with regards to how it’s the latest move will ensure that its Blockchain adds value, chances are that investors will be able to gain better insight regarding whether the partnership with Steemit will be a positive one in the long run.