The Tron project has risen to be one of the most popular projects in the industry in recent years. Much of its success has come from vigorous development and the project’s active team led by Justin Sun.
Though the project has not slowed down in its effort in recent months, its representation in terms of TRX prices has been on a drag. In the last couple of weeks, the coin has been trading on a tight range and has hardly responded to recent project developments.
At the time of press, Tron is nudging at the $0.030 position after a bearish couple of days. In the last couple of weeks, Tron has been stuck in the $0.025 and $0.030 price range. Today the market is seeing some fresh green and Tron is one of the cryptocurrencies seeing significant gains of over 4%.
Recent Developments Around The Tron Project
Just a couple of days ago, the Tron project announced that their token would be available to Opera web browser users. The Opera web browser will now support TRX in its built-in crypto wallet. The platform already has more than 300 million users from around the world and supports Ethereum and ERC-20 compatible tokens and Bitcoin.
The Tron project continues to dominate in dApps. DApps are growing fast due to their speed and cheapness taking away a lot of developers from popular projects such as Ethereum and EOS.
However, although Tron has had much to celebrate this year, the project has not had faults. In recent days there seems to have been trouble from within the project. The project’s CTO, Lucien Chen, has recently resigned from the project citing several problems with the project, this ranged from lack of “decentralization” to it being a gambling and funding project.
Following the resignation and allegation, the Tron project fired back saying that the CTO was fired early in the year for bribery and theft. However, the project failed to announce his departure at the time.
It still remains unclear who is telling the truth but whatever the case, this is attracting the wrong kind of attention for the project.
TRX Price Prediction
It is currently clear that the Tron project despite having issues with its management is on the right track when it comes to development and clearly has no issue when it comes to adoption. TRX prices will soon catch up with these developments and with key resistance positions dealt with such as $0.032 and $0.035, we can see TRX soar to new highs soon.
Tron price analysis: TRX/USD bulls are struggling with critical price area at $0.0400 on its independence day
- Tron price on Tuesday is trading in negative territory, nursing losses of some 1.5% in the second part of the session.
- The Tron foundation will be completing a large scale TRX token buy-back plan over the coming year to 2020.
The Tron CEO and founder Justin Sun was recently tweeting to the community, noting that today marks Tron’s (TRX) independence day. It was this time last year when Tron migrated off Ethereumblockchain as an ERC20 token, to the launch its own Tron mainnet.
Tron foundation in an official blog post named ‘Announcement on $20 Million TRX Buy-back Plan and 2020 TRX Holding Plan by TRON Foundation’.
The detailed program is going to have the widest coverage in the secondary market. It will last for a year and will include buying back TRX from the secondary markets in batches with no less than $20 million.
TRX/USD daily chart
Tron’s Justin Sun claims stablecoins will be key to cryptocurrency development
The Justin Sun-led Tron has been in the news multiple times recently, thanks to its regular updates and noticeable price hikes. The CEO has also played a very active role in promoting the cryptocurrency, as exhibited by his recent AMA on Periscope.
Sun focused on how the initial success with protocol governance in the Tron ecosystem paved the way for future developments in the blockchain. The CEO stated,
Tron had 27 Super Representatives passing 17 new protocols out of which 10 were voted in and accepted. Tron is also the third blockchain after Ethereum to be associated with the stablecoin Tether.”
Justin Sun further opined that 2019 was the year of the stablecoins and that inked assets will be a key focal point when it comes to future developments. He believes that the stablecoin system is the ecosystem in which centralized finance will be taking off. Sun added,
“We will be collaborating with more parties to boost Tether USDT use cases in the TRX ecosystem.”
The Tron Foundation had launched Tether on the TRX blockchain in April to much fanfare, with Tron tweeting,
“Today #USDT is launched on TRON’s blockchain. $USDT is issued by @Tether_to on the #TRON network based on #TRC20 protocol. There will also be a total reward of 20 million $USDT for 100 days. $USDT will be fast, free and smart! #TRX #BTT”
This program was later postponed due to certain discrepancies that came to light post the Tether-Bitfinex episode. Another topic touched on by the Tron CEO was the much-celebrated BitTorrent, which has come a long way since its acquisition by Tron in 2018. Sun admitted that BitTorrent was ‘integral’ to the overall growth of Tron’s development cycle. BTT recently completed its fifth airdrop on June 11, right after the Tron blockchain had breached the 10 million mark in terms of block height. The BTT airdrop involved the transfer of close to a billion tokens which were sent as a reward to TRX holders.
Tron celebrates its Independence Day, Longhash on the risk of a 51% attack and more
Crypto News – 25 June
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