Tron (TRX)’s Price Went Up Almost 11% Following Justin Sun’s Announcements
Tron (TRX) is still one of the fastest growing cryptos in the top 15 of the global market cap this week. It was surpassed only by IOTA and EOS.
During the last two weeks, Tron registered a growth rate of more than 10% with no sign of a reversal in the MACD. On the other hand, beyond the tech analysis, it’s important to note that the popular crypto has deserved this increase.
Justin Sun has also been actively working on developments and he managed to generate some really positive expectations among investors and fans all over the world.
During these last few days, Sun made some extremely exciting announcers for the community.
On August 18th, Justin Sun revealed the partnership with Seedit, a p2p payment platform that allows sending tokens to content creators on traditional networks.
The announcement came at a great time, after a bearish trend, proving that it’s possible to implement a practical case of using this blockchain shortly.
— Seedit (@GoSeedit) August 18, 2018
The project is still in the works, but the confirmation coming from both parties generated high expectations.
This is another exciting project for the Tron community because it will make it possible to expose the public to the use of Tron network, but also to be the decentralized alternative to Facebook or Telegram.
TronChat’s announcement markets the platform as a new app that counts the best of Instagram, Venmo, and Telegram.
— TRON Foundation (@Tronfoundation) August 27, 2018
Listing on new exchanges and token burn
Another great recent achievement is the listing on Kryptono exchange which enabled the TRX/BTC and TRX/ETH pairs.
#TRX is available on @KryptonoEx, a world-class Cross-blockchain crypto Exchange platform with Peer-to-peer fiat conversion feature, you can trade TRX/BTC, TRX/ETH now. #TRON $TRX pic.twitter.com/mt0Q2q9emF
— Justin Sun (@justinsuntron) August 24, 2018
Besides this, Sun also revealed that TRX would be available on KuCoin which is a much larger and more famous exchange.
And last but not least, Sun announced that he burnt about half a billion TRX ERC20 tokens which were no longer needed.
This was a decisive step in the completion of the transition to an independent blockchain after a while of running on the Ethereum network.
Now, TRX is trading in the red at $0.024916 on CoinMarketCap.
Founder of TRON (TRX)
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Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.