Forex-News has been the world leading economy news website since 2005. It has been a joyful path full of changing variables in this changing world. During the last three years we have also covered some of the most important news regarding Bitcoin and other cryptocurrencies. Wherever the news are, we are there.
Ethereum Classic

Understanding TRON’s TRX price spike


Right now TRON seems to be in a good time, considering that TRX has risen 14.52% to $ 0.030377. However, we wanted to dig a bit about what might be driving it and the answers we found are somewhat interesting.

The all-time high for TRX, TRON’s native cryptocurrency, was $ 0.23 in January 2018. It hasn’t been able to get close enough to this level since then.

, Understanding TRON’s TRX price spike, Forex-News, Forex-News
Monthly chart of the price of TRX, TRON’s native cryptocurrency; which is with an upward trend since the end of August. Source: CoinMarketCap

What is driving TRX from TRON right now?

In recent days the company has released some interesting news. First, TRON and Band Protocol formed a strategic partnership to implement scalable integrations of ecosystems and Oracle technology.

, Understanding TRON’s TRX price spike, Forex-News, Forex-News

In doing so, TRON has completed integrations with Band Protocol to provide secure and verified decentralized oracles, thereby powering its rapidly growing DeFi and decentralized app space.

This is important if we remember that TRON is one of the largest blockchain-based operating systems in the world. The announcement comes as BitTorrent TRON Founder and CEO Justin Sun prepares to hold an AMA with Band Protocol CEO and Co-Founder Soravis Srinawakoon on Wednesday, September 2 at 9:00 p.m. ET. Pacific (PT).

Also, this week it was announced that this company created a DeFi Meme coin and named it in honor of Justin Sun. Through $ SUN, Sun can hope to demonstrate that it is capable of participating in a community-led crypto project.

The interesting thing is that the mining of $ SUN will begin this September 2 as well, and will be officially launched on the 16 of this month during what they have dubbed the “SUNday”. With all this news, many people consider that there is growth on the doorstep for TRON and that is why they invest in TRX.

Considering that in the coming days there seems to be more news coming from Justin Sun and the TRON team in general, we invite you to stay tuned for our publications.

Other possibilities

On his Twitter account, Sun made a kind of “announcement about an announcement”, as he commented that in the next few days there would be “interesting news that would benefit TRX, BTT, JST and WIN”. Given the current turmoil in the DeFi industry, there seems to be a chance that the announcement will be about TRON’s DeFi ecosystem.

This would also fit with Sun’s statement that the new adventure will include TRX, BTT, JST, and WIN. The only plausible way these four cryptocurrencies can benefit from each other appears to be a DeFi platform.

However, some users accused Sun of trying to manipulate the price of TRON (TRX) with the tweet. Given this we must remember that, in 2017, the “announcement of the announcement” was a common practice in the crypto community to increase the price of a cryptocurrency.

, Understanding TRON’s TRX price spike, Forex-News, Forex-News

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More