TRON (TRX) Price Surges Over 500% In A Week, Outperforming BTC, LTC, And ETH - ATG News

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Friday, December 15, 2017

TRON (TRX) Price Surges Over 500% In A Week, Outperforming BTC, LTC, And ETH

Crypto Watch: TRON (TRX) Price Surges Over 500% In A Week, Outperforming BTC, LTC, And ETH

You’ve seen the big moves made in Bitcoin (BTC), Litecoin (LTC), and Ripple (XRP), but TRONIX (TRX) has grown faster than any of them this week.

It’s been a wild ride for the cryptocurrency world the past couple weeks. Bitcoin cracked $10K, then flew past it to $15K, sustaining over $16K after the launch of bitcoin futures trading on Cboe. Litecoin grew 333 percent in just five days starting at the end of last week. Ripple surged 84 percent in a day, and has grown another 56 percent since the time of that writing.

But one cryptocurrency has grown faster than all of them: Tronix (TRX), the coin of the TRON network.
What is TRON?

TRON aims to “heal the Internet” by constructing a worldwide free content entertainment system on the blockchain. The protocol allows users to freely publish, store and own data, enabling them to own the rights to their content and decide when, how, and at what cost to share it.

Sun wants to position TRON as a new kind of “distributed economy” in digital entertainment—including anything from streaming video to online gambling to social networks—where the users themselves own the economy. TRONIX is the cryptocurrency that runs on TRON. An important note here is that, in service of that distributed economy, TRON also supports other cryptocurrencies.

According to CoinMarketCap, TRX was trading at $0.003916 last Thursday night (around 7:45pm PST). This morning, less than a week later, TRX broke $0.02 at $0.020064—marking a weekly growth of 512 percent. The price is currently $0.01937.

Why is TRONIX surging right now?

TRON founder and CEO Justin Sun has become a bit of a celebrity in the blockchain world, notably for his work as Chief Representative of Ripple in Greater China—and recently he’s been hinting at some big announcements.

    More exchanges to come, more partnership to come, the most important is more developers to come!

   
In particular, there’s been speculation around a possible partnership with Chinese eCommerce giant Alibaba. An October announcement of Lucien Chen coming on-board as an advisor fueled this speculation, given Chen’s history at Alibaba and Tencent.

“Mr. Chen has an excellent occupational background and profound professional expertise,” Sun said. “His technical strength and knowledge will help TRON reach its professional goals according to the challenging timescales we have set. I believe that with Mr. Chen leading our team, TRON will live up to the expectations of our supporters.”
Founder and CEO of Ali baba.com, Jack Ma (C) poses with [+]

Of course, the general craze around Bitcoin and other cryptocurrencies cannot be understated, as many seek to find new altcoins to invest in while the Bitcoin market continues to simmer between $16K and $17K.

For more information on how to purchase TRONIX, visit the GetCrypto page. To keep up with current TRON events, visit the official website and follow the subreddit.

Editor’s Note & Disclosure: The author participates in cryptocurrency markets. Neither the author nor Forbes endorses participation in any token sale or cryptocurrency investment, all of which have significant inherent risk. Seek advice from a financial advisor as well as do your own due diligence before considering investment.

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