Bitcoin [BTC] sluggish below the $9,000 mark on the back of the most successful month-on-month gain since December 2017 has given way to the rise of the altcoins. Tron [TRX] is firmly leading that altcoin rise, given the current market conditions.
The Justin Sun-led cryptocurrency has now amassed a massive 17.41 percent price gain in the past 24-hours as the founder hinted at an imminent big reveal. The first inkling of this mention was on May 31, with Sun stating that something “huge and amazing,” was in store for Tron and BitTorrent, and that his stake in the same was “70%.”
Sun’s ‘announcement of an announcement of an announcement’ read,Something huge and amazing going about #TRON and #BitTorrent. I will share with you after June 1. I think I have 70% to win and nail it. Fingers crossed! $TRX$BTT
— Justin Sun (@justinsuntron) May 26, 2019
Following up the above tweet, Sun, without mention any further details stated that “I did it,” adding that this accolade was yet another ‘big win for the blockchain community,’ while not mentioning or even hinting at any concrete decisions taken.
Sun’s announcement of an announcement’ read,I did it! Big win for the #blockchain community! Big reveal June 3. Stayed tuned! #TRX $TRX $BTT #BTT https://t.co/C2ZcINfcKb
— Justin Sun (@justinsuntron) June 1, 2019
Despite many in the crypto-community dismissing this ‘announcement of an announcement’ primed on enticing investors to purchase the cryptocurrencies without any concrete reason to point to, the price pushed ahead. Justin Sun, the master marketer, managed to amass a double-digit price gain, even as the king coin traded sideways and propelled TRON into the top-10 with just two tweets.
Prior to the two announcements, the coin was trading at $0.03 on May 30 and rose steadily to $0.036, a consistent 20.65 percent price gain in over 30 hours. The first correction dropped the price to $0.035 prior to a move up to $0.038 a 10.13 percent gain in less than 2 hours as anticipatory bulls buoyed the TRX market. At press time, the now 10th ranked cryptocurrency is trading at $0.039, its highest price since July 2018.
Market capitalization reflected the same, as TRON added over $600 million to its overall valuation since the first domino of the announcement was made. Stellar Lumens [XLM] is now on the outside of the top-10 looking in trailing TRON by under $20 million, while Cardano [ADA] chase the duo by over $150 million.
BW.com and OKEx take the top two spots in TRX trade volume with 8.06 percent and 7.7 percent of trade respectively in the trading pairs TRX/USDT each. Other notable exchanges are Bit-Z, Huobi Global and Digifinex, however, the only exchange with “real” volume is Binance on the 11th spot with 3.59 percent volume in the BTC pair.
BitTorrent was also enjoying a brief bullish build-up as the cryptocurrency, on the 29th spot at press time inclined by over 7.7 percent in 24-hours, taking its weekly price pump to almost 40 percent.
Sun’s tweet highlighting TRON’s entrance into the top-10 read,
According to @CoinMarketCap, #TRX is back to TOP 10 with a recorded market capitalization of $2.59 billion! #TRON $TRX pic.twitter.com/Ae9CUjouQz
— Justin Sun (@justinsuntron) June 1, 2019
TRON’s founder Justin Sun confirmed the participation in Poloniex purchase
- TRON’s founder invested in cryptocurrency exchange Poloniex.
- TRX/USD has recovered to the area above $0.0200.
Just Sun, the creator of TRON and the founder of TRON Foundation, confirmed that he was among the investors that bought cryptocurrency exchange Poloniex from bitcoin-startup Circle. He also shared his views on collaboration with the exchange.
Circle purchased Poloniex for $400 million in February 2018 with the aim to develop the cryptocurrency trading business/ However, the market share of the exchange dropped from 60% in 2017 to 1%. In October it was announced that the startup would dispose of the exchange business, while Poloniex would be operated by Polo Digital Assets supported by a large group of investors.
Initially Justin Sun denied the rumors that he was one of the said investors; however, recently he confirmed the participation in Poloniex purchase and announced a series of joint initiatives including TRX listing on the platform and several airdrops.
TRX/USD breaks above $2.0
TRX/USD jumped to $0.0201 following the announcement. At the time of writing, the coin is changing hands at $0.0199, down from the recent peak. Despite the retreat, it is still 3% higher from this time on Tuesday. A sustainable move above $0.0200 will allow the upside momentum to gain traction.
TRX/USD, 1-day chart
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Tron CEO Justin Sun Teases “Huge” Secret Guest at Upcoming NiTROn Summit
Justin Sun keeps acting coy on Twitter by urging his followers to get the name of the special guest who will attend the niTron Summit 2020,
The avocado-loving CEO has recently taken to Twitter to make a fuss about a “huge secret guest” who will attend niTron Summit 2020. The event, which is organized by the Tron Foundation, will take place on Feb. 29.
Earlier, Sun promised to invite celebrities that would be on par with American basketball player Kobe Bryant. Hence, it should be someone of a high calibre. He also said that the fact that the summit will take place in Seoul, South Korea, should serve as a hint.
Sun’s followers rushed to his comment section in order to guess the name of the enigmatic A-lister who will grace the forthcoming event with his presence. Some suggested that it could be NBA superstars, PSY, or even US President Donald Trump.
Still, the most anticipated guest is none other than Warren Buffett, the third richest person in the world whose net worth exceeds $86.8 bln.
Sun abruptly postponed his much-anticipated lunch with Buffett back in July due to health issues that many deemed as a coverup for Tron’s legal problems in China. Later, Tron Foundation representative Cliff Edwards claimed that the lunch was being rescheduled with the same guest list back in September.
The Tron CEO himself has been eerily silent about meeting the Oracle of Omaha since the fiasco happened.
TRON WILL FLIP ETHEREUM NEXT YEAR, BITCOIN DEVELOPER CALLS
Bitcoin developer, known as Udi Wertheimer, recently announced his predictions for the future of Ethereum and Tron, stating his opinion that TRON will overcome Ethereum in about a year or so.
Ethereum is the second-largest cryptocurrency by market cap, and has been one of the most important crypto projects to ever be invented. It brought about the era of second generation blockchains, created the first ecosystem of decentralized applications (DApp), and became the first functional smart contracts platform.
TRON TO FLIP ETHEREUM IN A YEAR
However, along the way, Ethereum saw a number of competitors emerge, and while most of them disappeared as years went by, some did stick around. TRON is today one of the project’s main competitors, and according to Bitcoin developer, Udi Wertheimer, TRON might even flip Ethereum sometime in 2020.
Naturally, this seems like a rather bold claim at first. However, Wertheimer came up with this prediction after listening to TRON CEO and founder, Justin Sun, discuss the new partnership between TRON and Poloniex.
Sun has mentioned many plans for the partnership between his project and the exchange, such as listings of additional assets, and more. However, he also stated that some additional partnerships — which he is not able to discuss just yet — would come in the near future, as well.
Wertheimer also states that TRON boasts faster development, better censorship resistance and greater transactions, than the largest altcoin.
CAN POLONIEX BE TRUSTED?
Justin Sun is quite well-known for his major announcements and raising hype, which is why many have taken his statements and plans with a grain of salt. In addition, a lot of people do not think much of Poloniex anymore, after the incident from over half a year ago, when Poloniex supposedly took 1800 BTC from its customers and did not pay them back, as some were complaining.
Others also noted that the exchange is not addressing their issues and that it is not to be trusted, which also implies that its partnership with TRON is equally untrustworthy.
Meanwhile, Sun addressed his followers, encouraging them to use Poloniex and help the exchange expand its business. He praises it as the first exchange that allowed the crypto community to buy coins like ETH or TRX, which is partially a reason why it has his support.
As for the future, Sun has announced that Poloniex will start offering more TRC-10 and TRC-20 coins listed, announcing big things to come. Plans like these are what makes Wertheimer believe that TRON will overcome Ethereum in the next year.