Tron (TRX) hasn’t been at its best since last week (we should rather say as the year started) and at the moment, it is still trying to get its momentum. The cryptocurrency failed to break the 50-day Moving Average last month; still, Tron’s slow stochastic is showing a bearish movement. Although the market isn’t yet stable, Tron (TRX) is trying to recover from its immense losses.
Tron has accomplished a lot recently, and lots of positive news are flying around it. This is due to the launch of its TVM and the acquisition of BitTorrent. It is necessary to know that Tron’s VM (Virtual Machine) will assist in the development of new Dapps (decentralized applications) and other upcoming projects on its network.
Additionally, during the launch of its Virtual Machine, its CEO, Justin Sun, also explained a ‘secret project’ called Project Atlas. Sun made it clear that Project Atlas will help merge BitTorrent and Tron’s network. He also said that Project Atlas doesn’t need a mining system, rather, there will be an exchange of ‘available’ tokens around users.
Moreover, Tron’s daily transaction has increased to nearly one-third of Ethereum’s. According to a statement made by TRX Colony on Twitter, in which Justin Sun twitted himself. It says:
“TRX stared Aug. with only 30,100 transactions a day. By the end of the month, the average of daily transactions was nearly 1/3 that of Ethereum. Tron is the fastest growing coin, this rocket ain’t stopping for anyone.”
Sun himself stated before the launch of Tron Virtual Machine that:
“TRON is 80 times faster than Ethereum. With 14 years of experience, BitTorrent is providing a world-class service to 100 million users in 138 countries. Add the two together and you get the largest and most advanced peer-to-peer network in the world!”
These projects/developments are positive ones but despite all these, there isn’t any positive increase in Tron’s price yet. At the time of writing, TRX is priced at $0.02517 and it is in the red. Since it is the first day of the week, its trading volume hasn’t increased yet. It is likely that the price and the trading volume of Tron would increase once more audience begin to know about Tron’s recent positive developments from last week or so.
Tron’s positive developments are seen as a support for its community. The digital asset is seen as Ethereum killer and Sun recently stated that “Tron (TRX) is a better network than Bitcoin (BTC) and Ethereum (ETH) in terms of decentralization.” As it seems, there probably is a lot more to come from Tron yet.
Nevertheless, the market seems to be moving favorably during the past few days, which clearly shows that things are beginning to turn into shape. Tron as a company will also turn into shape so as its price and volume. We hope Tron’s positive development have a good impact on the price of TRX in a long run.
We shouldn’t neglect the fact that this is the best time to buy TRX as the market begins to recover again. Although the next couple days will be determining – we hope that things turn out right.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.
Photo by Aziz Acharki on Unsplash
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