TRON Surges By 10% On A Slow Sunday

Yesterday was a relatively slow and sluggish day for the performance of Bitcoin and most of the altcoin. However, for TRON, it was one of the best days this month. The price of the cryptocurrency strengthened against the US dollar while the rest of the market remained stagnant.

Tron’s TRX token jumped more than 8.5% against the USD while the other major cryptocurrencies were sluggish. From the technical point of view, TRX/USD already crossed above its near and medium-term moving averages. The other indicators are also signaling a potential upside extension and a bullish sentiment.

Right now, analysts are trying to see what is the factor behind this growth of TRX. There are three theories:

• Smooth Mainnet Migration – TRON recently started its migration from the ERC20 to the TRON20 standard which is a native coin for the Tron Independent mainnet. The migration is so far running smoothly and there are 351 blocks already being migrated. The round also has support from Binance, Gate.io, Max, Bitfinex, HitBTC and other exchanges.
• BitTorrent acquisition – The second factor behind the growth of TRON is the recent acquisition of BitTorrent, which was confirmed by the founder, Justin Sun. Meanwhile, BitTorrent is known as the world’s leading torrent client with more than 150 million active users per month.
• Virtual Machine Launch – Another big factor that could drive the surge behind TRX is TRON’s Virtual Machine (TVM) which according to the recent announcements from the company, is 80% faster than Ethereum.
• Secret Project Hype – The hype around a secret project seems to be the last factor driving TRX’s growth. According to the founder of Tron, the secret project will add over 100 million active users to TRON’s platform which is why it seems exciting for many.

At the end of the day, TRON needs to maintain the bullish momentum this week and prove that all of these factors are pushing its growth over the next weeks and months.