Tron [TRX] weekly update; moon soon?
After the mainnet launch, Tron has been going crazy with activities, ranging from updates on the Super Representative Elections to new listings. The price, however, seems to dislike the good news as it has been on a bearish run since June 7th.
After its initial spike this week after the mainnet launch from $0.057 to $0.061 with a further rally to $0.063, the coin saw a downward trend. From the high of $0.063, the coin saw a steady drop down to $0.057 before correcting to $0.059. It is currently trading at $0.057.
Tron is currently at the #10 spot, a position it has not moved from for a while. The Tron mainnet was launched on 31st May, with great hype and excitement from the Tron community. The Tron community’s bug bounty was raised to $10 million after it was set at $100000.
The SR elections also saw a lot of community support over the week, with many exchanges, mining pools, and individuals running for candidacy.
Over the week, Tron was listed on exchanges such as Indodax, CoinEx, Tokenomy, Max Exchange, BitForex, CoinEgg, and BitoPro. This resulted in Tron having over 100 trading pairs, as mentioned by Justin Sun on Twitter.
Tron also announced its entry into the Forex Market earlier today via their partnership with Shift Market. Tron will be bridging the gap between traditional fiat currencies and cryptocurrencies, with over 100 Foreign Exchange brokers.
User Kryptohaji on Twitter:
“Nice Justin… FX market over 5 Billion US Dollar Daily #tron #justinsun #tronics #tronsr Great step”
User Bruce Waves said:
“@hustle5am It is a first element of answer compared to our previous conversation. But there are good reasons to be confident. Thank you @justinsuntron for your awesome work. #TRX”
User Cuong Truong said:
“The Forex market is 100% fraud. How can the blockchain technology help the Forex market to become more transparent so traders no longer open their mouths to complain about Forex being fraud and scams?”
By Anirudh VK
AMB Crypto
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