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Flash bounce! TRON [TRX] the only double-digit gainer among top 50 [24 hrs]

Ranjitha Shastry



Flash bounce! TRON [TRX] the only double-digit gainer among top 50 [24 hrs]
Source: Unsplash

With just 5 days left for the token migration, Tron is getting some good news from the rise in price. The token migration is scheduled to take place from June 21st to June 25th. As this date approaches, Tron today, experienced a great recoil as prices rose to 14.66% over the past 24 hours, as per the CoinMarketCap stats.

Tron has been experiencing quite a fluctuation for over a month now. Last price surge TRX had observed was on May 21st, at $0.082. Currently, TRX is trading at $0.047 per coin and is ranked at 10 in terms of the overall market cap. TRX has a market cap of $3,149 billion.

The closest to TRON is Maker at 10.04% followed by Ethereum Classic at 9.49%, among the top 50.

Justin Sun recently tweeted about reaching 500k followers on Twitter and 1 million followers on Weibo webpage on the 9th of June. With just 6 days left for the genesis block, Tron has been making a lot of announcements over the past month.

Tron has also tied up with major exchanges like Binance, Bithumb, Trade Satoshi, Bitfinex, Bittrex, Coinegg, Coinrail, OTCBTC, Zebpay, Upbit etc., for supporting TRX migration on June 24th.

The Tron Foundation has been making constant announcements regarding the new communities participating in the Super Representative Election which is scheduled for June 26th, 2018. There are more than 40 representatives as of now participating in the elections.

Tron has expanded to over 1 million token holders with the genesis block being launched and the mainnet going live.

Homer J, a crypto enthusiast, and a Twitter user commented:

“Is this some other company you have founded Justin?”

Tron’s market transactions are also seeing some good alliances with Binance on June 11th opening TRX/USDT trading market and TradeSatoshi Exchange announcing the launch of Tron trading pairs on June 12th.

Tron had also stated its collaboration with the Shift Markets to increase liquidity for both traditional markets and cryptocurrencies. Shift’s crypto exchange platform grants an unparalleled trading exposure coupled with a variety of back-end solutions.

This partnership between Tron and Shift Markets aims at enabling the use of TRX to connect the bridge between fiat currencies and cryptocurrencies. As a result of this Tron will be available in more than 9 countries.

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Ranjitha Shastry is a part of AMBCrypto's News Reporting Team. Having done her major in Journalism and mass communication, she is passionate about business and economic journalism.