It’s very easy to forget a crypto and mark it off as dead for good, but in the crypto market resurrections are an everyday occurrence. A token can shoot up by about 100% overnight just because of some little news heard or media uproar. It’s therefore no shocking news that most people believe(d) Bitcoin’s price was regulated by the media. Tron (TRX) was the latest to benefit of this price valuation over the weekend after its CEO, Justin Sun announced the release of an update for the network.
The TRON (TRX) token gained value after staying a little above $0.02 for more than 3 months. This was after news of the TRON Odyssey 3.1 was to be released in the coming weeks, as well as the network’s introduction of new trading pairs with fiat currencies. The launch of Odyssey 3.1, a major update that will see the introduction of DApps (Decentralised Apps) is a thing that has been longed for greatly by most enthusiasts of the network and its token, as it promises the perfection beyond the standards of the likes EOS and Ethereum. This is all in spite of the reduced cost for transactions.
The CEO of the company who recently mentioned that developers of DApps had to incentivise people to use their creation also tweeted recently that
Based on community consensus, #TRON will be upgrading to Odyssey 3.1 at 8pm SGT. The TRON Committee function & TVM will go live, marking the start of the Smart Contract Era. TRON will be 200x faster vs. ETH, 100x cheaper vs. EOS. dApp developers & users, this one is for you! $TRX
— Justin Sun (@justinsuntron) October 8, 2018
He also expressed his concern with regard to the changes in people’s attitudes towards the token as well as the price rise. Moreover, with Monero’s XRM token performing on like an old man who’s had his knees knocked with a hammer, TRON XRM could be heading into the top ten crypto coins on the market list. With the token trading at $0.027 as of last night with trading volumes nearing a year’s high of approximately $350 million.
Bitfinex’s introduction of multiple trading pairs for the network especially with fiat currencies and also Binance’s massive support of the coin from the Island of Malta have been major boosters for the coin’s performance lately.
Numbers indicate that about some 3.3% of all cryptocurrency traders are into TRON TRX tokens. The network is also said to have had a total of 463,326 views above most other crypto networks, gradually gaining the recognition of agencies like even Nasdaq. If most investors are optimistic of a bullish price run then eventually most token owners will decide to hodl their tokens to gain more value
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