The TRON price has just made 15% advance in defiance of the sluggish cryptocurrency market. With a total market cap of $4 billion, TRON continued a reversal that originally began on Sunday. In it, 8 of the 10 major cryptocurrencies fell against the US dollar – while Ethereum – was the only one to rise by 0.5% for the day.
TRON, however, has been in the headlines for its strong momentum. the cryptocurrency surged by more than 15% in one day alone to a present average of $0.099 with a $6.5 billion market cap. Thanks to the TRON price surging, the cryptocurrency went back into the top 10 and currently ranks at number nine at the charts.
The majority of TRON’s trading volume, however, is concentrated in South Korea where the cryptocurrency trades at a slight premium over other exchanges. While it is still not clear what fueled the TRON price on the market, there are many rumors about the network’s upcoming mainnet launch as the main trigger for the recent rally.
#TRON Main Net Launch Countdown: 31 days, 744 hours, 44,640 minutes, 2,678,400 seconds! #TRONSR $TRX
— Justin Sun (@justinsuntron) April 30, 2018
The founder of TRON is an alumnus of the Chinese tech giant Alibaba. According to some rumors, he will leverage this relationship to ink a strategic partnership with the firm.
However, these are only rumors that emerged in some articles posted on cryptocurrency news sites. The articles, however, were widely shared on social media – despite the lack of actual proof or confirmation.
Still, the founder of Alibaba Jack Ma, recently made it clear that for now, the firm has no intentions to engage with cryptoassets – even though they believe that blockchain technology is a promising field.
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