Tron Price Today Up By 25% After China ‘Bans’ Anti-Blockchain Sentiment

China is the leader in today’s cryptonews, showing that the country has recently adopted a pro-blockchain stance. Following news that the county will bring in a so-called “crypto law” in January next year, the Tron price today is up by 25% and TRX is trading at $0.02.

In a sign of what was described as China’s abrupt official initiative on blockchain, many officials said that they are deleting posts that claim the technology is a scam. The Twitter-based crypto news resource cnLedger reported this on October 28.

3/ Articles saying blockchain technology is a scam are now BANNED.

Who still remember the days when posts promoting blockchain getting deleted real fast? pic.twitter.com/W5iRJ3PDYS

— cnLedger (@cnLedger) October 28, 2019

It seems like the Tron price today is up by a lot, and all as a result of China embracing blockchain and cryptocurrency.

For those of you who did not follow our regulation news, we could see that Chinese officials along with the president Xi Jinping caused a stir late last week after giving a speech condoning blockchain. China, according to Jinping, would become the world’s foremost proponent of the technology and would seek to implement it throughout the economy.

According to cnLedger, the major social media platforms are already censoring anti-blockchain sentiment. “Articles saying blockchain technology is a scam are now BANNED,” it stated.

The blockchain platform Tron, formerly under intense scrutiny from Beijing, has benefited form the past week’s developments. The Tron price today is at a new weekly record after gaining almost 25%. The CEO of Tron Justin Sun announced a major and unknown partnership with what he called a “mega corporation” on the same day as Xi’s speech – something which additionally influenced the price of Tron.

In a further development, the cnLedger article shows that Xuexi Qiangguo, the country’s most downloaded app on the Apple App Store, will feature educational content on Bitcoin (BTC) and Ether (ETH). This is what the Tron news today also picked up, leading to a fresh increase on TRX’s price.

Even though the exact nature of the content remains unclear, it forms part of a recommended course that is “focused entirely on blockchain.” The Tron price today is a result of all of these positive news – showing that blockchain and crypto are now in the focus.

Meanwhile, the official coin market capitalization shows that $250 billion are now fluctuating in cryptocurrency. The 24 hour volume has hit a new record at $126 billion, showing that the interest for Bitcoin and other altcoins is at its highest this month.