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Tron [TRX] regains market prominence; records highest daily USD trading volume

Arijit Sarkar



Bitmain and BitDeer join forces in new Marketing Initiatives
Credit: Pixabay

Although Tron [TRX] struggled to regain its value throughout the year, the cryptocurrency managed to make headlines with positive news such as the anticipated launch of BitTorrent on Tron Network from Q2. In addition to it, Tron CEO Justin Sun will also disclose a new partnership with a tech giant at the ‘Consensus 2019’ conference on 13 May, 2019.

Positioned at 11th on CoinMarketCap, Tron managed to keep its investors happy with another breakthrough by recording its highest daily USD trading volume. The coin managed to cross the $20 million mark for daily USD volume trading on its 425 DApps. Further, the cryptocurrency has also been able to pull its 7-day USD volume above $100 million.

The information came into light through a tweet shared by @mishalederman, which said, 

“#TRON reaches its highest daily USD volume in months on its 425 DApps, befittingly surpassing #EOS on the eve of #Consensus2019
TRON: $20M
EOS: $16M
ETH: $5M
Also, #TRX 7 day USD volume has risen above $100M”

The tweet also reminded viewers about the upcoming BitTorrent partnership that was recently announced by Sun on his twitter handle. Moreover, Tron may experience a sudden bullish trend after it surpassed better performing altcoins such as Ethereum and EOS.

While the cryptoverse remains amazed at the recent development, Tron enthusiasts are more focused on the aftermath of integration with BTT and other tech giants in Q2. Additionally, TRX is gaining further popularity through various social happenings, such as the ongoing ‘Tesla’ giveaway and BTT airdrops.

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Tron’s Justin Sun claims stablecoins will be key to cryptocurrency development

Akash Anand



Tron CEO claims stablecoins will be the key focal point for cryptocurrency development
Source: Pixabay

The Justin Sun-led Tron has been in the news multiple times recently, thanks to its regular updates and noticeable price hikes. The CEO has also played a very active role in promoting the cryptocurrency, as exhibited by his recent AMA on Periscope.

Sun focused on how the initial success with protocol governance in the Tron ecosystem paved the way for future developments in the blockchain. The CEO stated,

“Tron had 27 Super Representatives passing 17 new protocols out of which 10 were voted in and accepted. Tron is also the third blockchain after Ethereum to be associated with the stablecoin Tether.”

Justin Sun further opined that 2019 was the year of the stablecoins and that inked assets will be a key focal point when it comes to future developments. He believes that the stablecoin system is the ecosystem in which centralized finance will be taking off. Sun added,

“We will be collaborating with more parties to boost Tether USDT use cases in the TRX ecosystem.”

The Tron Foundation had launched Tether on the TRX blockchain in April to much fanfare, with Tron tweeting,

“Today #USDT is launched on TRON’s blockchain. $USDT is issued by @Tether_to on the #TRON network based on #TRC20 protocol. There will also be a total reward of 20 million $USDT for 100 days. $USDT will be fast, free and smart! #TRX #BTT”

This program was later postponed due to certain discrepancies that came to light post the Tether-Bitfinex episode. Another topic touched on by the Tron CEO was the much-celebrated BitTorrent, which has come a long way since its acquisition by Tron in 2018. Sun admitted that BitTorrent was ‘integral’ to the overall growth of Tron’s development cycle. BTT recently completed its fifth airdrop on June 11, right after the Tron blockchain had breached the 10 million mark in terms of block height. The BTT airdrop involved the transfer of close to a billion tokens which were sent as a reward to TRX holders.

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