TRON on the Rise Again; TRX sees 34% Hike
In what has been a pretty good week for cryptocurrency prices, one cryptocurrency has outdone the rest. TRON has made double digit gains for the second consecutive week this month.
TRON has made a 34% hike with 10% of it happening over the last twenty-four hours alone. This is a massive rise for TRON and there are quantifiable reasons for it too.
Last week TRON, already on a high, was valued at $0.0187 USD. Following the massive hikes in the past twenty-four hours and before, TRON is now $0.0262 USD per coin.
This price rally, however, is not exclusive to TRON. The entire cryptocurrency market has been doing considerably well over the past couple of weeks and more is expected to come.
BitTorrent The Reason?
Recently TRON acquired BitTorrent and it’s massive user base. The Singapore based foundation was bought out by TRON and now accepts the token as payment in exchange for data files, etc.
TRON has been racking it’s brain to figure out a useful integration of the BitTorrent Foundation with its original idea. After quite a bit of thought, TRON has decided to exchange data on the basis of the token.
“Users will earn tokens for uploading, incentivizing them to continue seeding the file longer after the download is complete. Storage and bandwidth will be infused into the torrent ecosystem, causing a rising tide of high availability and longer torrent lifetimes.”
This acquisition is also blessed by team Binance. With the founder CZ commenting on the same;
“The grandfather of Dapp finally finds its decentralized currency and business model. Should be a very interesting case study.”
TRON is one of those companies that have been making moves, acquisitions and developments in a way that has been and continues to resonate with the cryptocurrency community.
This is one of the major reasons that the TRX token is doing so well and expects to do better in the market.
Justin Sun’s Marketing
The founder of TRON, the prodigal millennial, Justin Sun is also the biggest reason for the cryptocurrency’s performance. His underrated marketing skills create a hype around the token which further leads to speculation which directly affects the price of the cryptocurrency in the market.
Justin Sun’s social media presence is one of the biggest contributing factors to the tokens price hikes.