TRON, which shot to prominence in 2017 when it experienced massive growth in what did turn out to be a bit of a pump-and-dump, is again shooting up in value as it topped 40 percent growth overnight late last week.
The cryptocurrency is a Blockchain-based decentralized platform that aims to build a global digital content entertainment system with distributed storage technology. It is founded by Justin Sun, who is a well-known entrepreneur and one of Forbes’ 30 Under 30.
Solid gains
TRON has started to bounce back after a bit of a hammering through the early stages of 2018. The TRX price hit a high of $0.0499 over the weekend but has dipped down to $0.0452 at time of publishing.
Still, the gains are impressive and are off the back of increased interest from certain sectors, and popularity out of certain exchanges.
With $518.47 mln in 24-hour trading volume, it is clear that the demand for TRON is very real and looking surprisingly solid, all things considered. Whether or not it will remain that way, remains to be seen, as there is still a lot of bearish pressure on the markets.
Popularity rising
The gains are probably down to the coin gaining in popularity across different exchanges.
TRON topped the trading charts on Koinex, a cryptocurrency exchange in India. Justin Sun tweeted and commented on the progress of the TRX currency saying:
#TRX is the most popular crypto in #India now. #TRON has more trading volume than #BTC #ETH #Ripple #EOS . #TRON is the new #bitcoin! #TRON $TRX pic.twitter.com/JdHtcZgoGc
— Justin Sun (@justinsuntron) March 25, 2018
However, it is Binance that is the largest trading platform when it comes to TRON volume. Their lead over Upbit is quite impressive, considering how South Korean exchanges usually destroy other trading platforms in terms of trading volume.
Bittrex completes the top three, which is pretty interesting as well. With no fiat currency markets in sight, it is evident things will get quite interesting for TRON.
Arman Shirinyan
Alex Dovbnya
