TRX Hits Record Price; Tron Market Cap Storms Into Top Ten…Then Nine…Then Eight
With Tron (TRX) fresh off a record-setting December which saw its token, Tronix, rise from $0.002 (USD) to $0.032, it could have been forgiven for plateauing, or even correcting thereafter. This has been far from the case, however, with the cryptocurrency going berserk over the first handful of days in 2018.
Today was even more the case, with TRX spiking by more than 150% over the past 24 hours – at the time of writing. This largely came from the momentum prompted by the latest announcements, but also due to this recent tweet shared by founder and CEO, Justin Sun, foreshadowing a “partnership with a very prestigious public listed company next week.”
Such a remarkable surge was enough to see Tron break into the top ten cryptocurrencies for the first time, earlier today. It replaced Dash (DASH) at #10, before later securing #9, and then #8, bypassing IOTA (MIOTA) and Litecoin (LTC), respectively.
This is an incredible feat for the blockchain-based protocol considering their ICO took place in August last year, before then commencing trading in September.
Since the new calendar year has begun, Tron’s market cap has more than quadrupled. Starting from $2.94 billion (USD) on January 1, the soaring TRX altcoin closed at $5.17 billion on January 3. Today was something else, however, as Tron went on to more than double in value to $13.7 billion – according to historical data. It is hard to believe that not even a month ago – on December 13 – Tron’s total worth was shy of $500 million; under 4% of its current valuation.
The team has released a flurry of price-sensitive announcements lately. The most recent came yesterday with Tron announcing “a strategic cooperation agreement with Game.com, an online gaming platform which centres on blockchain game content.”
For those unaware – as per yesterday’s announcement – Tron describes themselves as:
A decentralised content protocol that aims to establish a global free content entertainment ecosystem with blockchain technology. It allows each user to freely publish, store, and own data. The content creators shall be empowered through the free creation, circulation, and trading of digital assets under decentralised self-governance.”
To learn more about Tron, head to their website and read their whitepaper. Alternatively – as tweeted by the foundation – tune in via Periscope on January 6 at 10:00am (GMT+8) to watch CEO Justin Sun elaborate on the latest happenings.