The market is back up after a long two weeks battling in the red. Tron (TRX) has seen its price increase by daily double digit returns for the first time since September and enthusiasts, investors and fans are all optimistic of an upcoming bullish momentum in Q4 2018.
Since the launch of the TRON mainnet back on June 25th, the coin has faced a couple of hurdles in its quest to being one of the best platforms for developers, amateur and expert, to launch their decentralized applications (dApps). The statement made is in a broader sense as the token’s price has continued to tumble heavily since. Well, till September 13, 2018 where the strong rise of prices is threatening a strong bullish run in Q4.
On the positives, TRON has seen a massive increase in development on the platform, increase in number of nodes connected, a number of exchanges have listed the token, partnerships within and without the blockchain and
TRX token is currently the main suffering sector of TRON [again, till last night] the positives being recorded on the development of the blockchain, the community participation, and global marketing will work to reverse the price of TRX towards its all-time highs (ATH).
The TRON Foundation burn close to 5 billion ERC20 TRON tokens
The fifth batch of the now useless TRON ERC20 tokens were burnt earlier this week. A total burn of 4,917,487,036.059613 TRX (ERC20token) was carried out successfully. Check the record on this link.
With 1058 nodes in operation at the moment across the globe, TRON blockchain is continuing to reach higher levels of decentralized consensus governance. As of September, 13th, 2018, the block height of TRX is at 2309162, while token migration is still in progress.
The burn has a significance in ensuring Tron mainnet is adopted as a developer’s layer to ease efficient, fast and cost effective dApps on the blockchain.
Tron (TRX) numbers on the board
An announcement by Bittrex Exchange on their blog revealed the new additions to its trading pairs as Tron (TRX) and Litecoin (LTC) both got an addition of the US Dollar (USD) pair to trade. This latest move by Bittrex signals for an appreciation in the adoption of the two coins as fiat pairs are added to trading.
Tron (TRX) currently trades at $0.020240 USD, representing a sharp 15% increase in price in the last 24 hours. The sharp rise in price is heavily influenced by the overall recovery of the market as most cryptocurrencies saw green on their charts. The coin still faces a 91% drop in price since the all-time high price of $0.231673 USD in January this year. The recent August launch of the Tron Virtual Machines (TVM) will play a big role in pushing the platform above Ethereum as the world’s best smart contract platform.
TRX volumes has slightly increased to over $156 million USD worth of TRX traded daily. The token is currently placed 13th on the Coinmarketcap listings with a total market capitalization of $1,330,748,194 USD.