Tron, the altcoin started by Justin Sun has had an Impressive Rally for 5 days in a row. This has put the currency in the top 10 most valued cryptos. Tron TRX is one of the most controversial cryptocurrencies out there, but that hasn’t discredited their legitimacy in the market. It is a major player in the crypto world and is looking to grow even more.
Tron’s Reason For Exponential Growth
Tron has been enjoying growth for five days in a row. While there have been many ups and downs in the way, it has shown growth of more than 6%, which is more than its prominent Competitors Eos and Ethereum. TRX was trading was at a high of US $0.0407 and is right now trading for $0.0308.
While this growth can be due to overall growth in the market due to Bitcoin, three main reasons are identified that are responsible for the growth of TRX.
The first reason is the upgrade brought in Tron’s mainnet. The reason this upgrade was released because they wanted to introduce “a more lightweight built-in event server with added protocol data check”. This upgrade has provided help due to many new people now using the mainnet for transactions.
The second reason for Tron’s growth is that Tron posted high daily volumes than its competitors EOS and Ethereum. This meant that investors were quick to grab the opportunity to invest in TRX.
The third reason responsible for Tron’s growth is the new New York-based startup, launched its own stable coin using Tron blockchain. Investors have been using Tron blockchain for getting access to this new coin. This has led investors to subsequently buy more TRX.
