The beginning of 2018 was pretty good for some cryptocurrencies and bad for others. One of the big winners was definitely TRON (TRX). At the start of the year the currency was traded at just over 4 cents and had bellow three billion in market capitalization. The morning of Jan 4th TRON blew up and entered the top 10 cryptocurrencies by market capitalization, growing over 250%.
What is TRON (TRX)
TRON’s ICO was in September. It is a Blockchain cryptocurrency for the entertainment industry called Tronix (TRX) and a platform for content distribution, in which the only circulating currency is (TRX). The technology wants to revolutionize the way people consume entertainment and to create a decentralized content distribution platform.
TRON wants to compete with the centralized competitors like Google Play and Apple’s App Store and the big fees they charge. TRON has the goal of being a blockchain-based distribution system for free digital content. They want to help creators to better protect their work via copyright and give creators the ability to publish and store their own data.
Creators should have total control and ownership of the data they create. Also they should have options on where to post and how to distribute their content. As with most cryptocurrencies, TRX lowers international transaction costs. This will definitely help content creators in distant countries and people who can’t sell their content in their native currency.
At the end of January 4th TRON’s price peaked at 29 cents, showing that the bulls are strong in this one. At its peak TRON had over 13 billion in market cap passing IOTA, NEO and DASH. But this is not the first bull run of the currency. It was bullish since the beginning of December. At the end of November TRON was traded at 0.4 cents, growing more than 2000% in December.
One of the main reasons for the sudden interest in TRON and the big jumps, are the announcements of TRON’s founder Justin Sun that the company has major partnerships with prestigious public listed companies and that more partnerships are coming soon. These were announced on twitter on January 2nd and 4th. What followed was the massive jump of over 150% and TRON was trending.
How to buy Tronix
TRON is not available in the most popular exchange Coinbase. More than 80% of the trading volume happened in the Binance exchange, but the site closed temporary the new user registration, because of the overwhelming growth in user base.
The options that are left are to buy some other cryptocurrency like Bitcoin or Ethereum and then convert them in TRX. Investing in crypto is risky and you should always educate yourself on the subject, before deciding if you really want to invest.
Good and Bad Rumors
Some rumors were circulating that the founder Justin Sun is selling off his coins and cashing off billions of tokens. These rumors started circulating after the hype tweets and people on the internet started to speculate that this is a classic pump and dump after all the hype but none of this is confirmed or denied.
Other rumors are that a partnership with Alibaba is underway. People are speculating this, because former employees of Alibaba work at TRON’s team. Other reason for this is the founder of TRON was one of the first students to attend Jack Ma’s Hupan University for entrepreneurs and the only millennial graduate.
Despite the rumors, TRON holds strong in the top 10 for now and has the potential of passing other big names on market capitalization. No one knows what the future holds and we will keep our eyes on TRON’s next announcements and partnerships. dfgdfg
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