On Monday this week, TRON (TRX) is in the latest digital currency news, this time because it is the altcoin that managed to rise by 12% and appreciate against the US Dollar, reaching another high of $0.028.
The spike came hours after the founder of TRON, Justin Sun, announced a new consensus in order to launch the Tron Committee Function and Tron Virtual Machine (TVM). The launch of the latter is especially important since it marks an important step towards the functionality of the Tron network.
According to Sun’s opinion, TVM will make the Tron blockchain 200 times faster than Ethereum – and 100 times cheaper than EOS. Sun also showed up in a brief interview round with Investopedia (a leading education website) in which he predicted a new surge for Tron and an eventual placement among the top ten cryptocurrencies. As he told Investopedia:
“If we look at the top 10 cryptocurrencies, many of them are not motivated to continue innovating or improving their product. They represent the older generation of cryptos.
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TRON, on the other hand, is a young company with cutting edge technology, with much more room for growth. We are confident that TRON will surge into top 10 in the next 6 months.”
With the latest update, TRON managed to rise to the top 10 coins and now stands at the 11th position, according to recent data on CoinMarketCap.com.
Right now, the TRX/USD pair is supported by an ascending trendline and is signaling a bullish scenario. However, in order for such a scenario to be official, TRON needs to break above the breakout zone which is near 0.302-fiat.
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