Tron (TRX) surges by 6% while the whole market stays calm

Thursday, 4th October saw a mixed crypto market with some of the coins still caught-up in the bearish atmosphere while others are staying calm. Despite the boring market trends, some cryptocurrencies have seen surprise spikes. Talking about the top 15 digital coins, only Tron (TRX) is enjoying an accountable price increase today.

At the press time, Tron (TRX) shows a spike of 6% in the last 24 hours. The only other cryptocurrency accompanying it is EOS after surging by 2.47%. In comparison, EOS is moving up at a meager rate, and the only name that market can hear right now is TRX.

Tron has not shown a price increase in the last 24 hours only, but its last seven days average shows green numbers too. Talking about 7-day average, TRX has the second best being 2.63% in green after Binance Coin’s 3.41% (BNB is up by only 0.33% taking the last 24 hours in account). At the time of writing, Tron (TRX) trades at $0.02269 with a market cap of $1,498,620,309.

Tron’s claim to the fame is its aim of decentralizing the whole internet as its primary objective. The company’s USP is that it aims to make content creators reach their audiences and get paid directly, without any mediators like Youtube.

Over the last few months, Tron has been in the news (quite a lot) with numerous projects and announcements being tied to the blockchain company. It won’t be wrong to say that Tron has been the ‘center of inclination’ in the crypto-universe for the last few months. The MainNet launch, blockchain upgrade, token migration, BitTorrent acquisition and constant listings on top exchanges have played an excellent role in the growth of  Tron (TRX).

The latest spike in the price of cryptocurrency is believed to have come from the success announcement of uTorrent Web, a service that Tron Foundation launched just about a month ago post their BitTorrent purchase.

The CEO of the company, Justin Sun, took to Twitter today where he announced the initial success of the uTorrent web. Mr. Sun affirmed that the service has reached 1000K daily active users already, which indeed is a great achievement given that it is merely a month of age.

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Apart from the uTorrent web success, another potential lifter for recent TRX price is the fact that Bitfinex announced fiat expansion for the cryptocurrency today, too. The newly added fiat pairs by the exchange include TRX/EUR, TRX/JPY, and TRX/GBP. Bitfinex tweeted:

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Subsequently, Exodus, a widely-used crypto wallet announced its support for the TRX mainnet just yesterday. Thanks to the recent Exodus support, users can now exchange the cryptocurrency with almost fifty assets directly. Some of them include DGB, XLM, OMG, XRP, BTC, and ETH.

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TRX also caused a stir in the crypto sphere when Binance announced tron trading competition.

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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 own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Geralt/Pixabay

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