On Monday, the price of Tron rose 12% against USD, testing the August high of $0.028.
The price jump occurred a few hours after the announcement by the CEO and founder of the Tron Foundation Justin Sun about the launch of the Tron Committee Function and the Tron Virtual Machine (TVM).
The launch of TMV is an important step towards increasing the functionality of the Tron network. According to the developers, TMV will be able to power large-scale decentralized applications in the same way that Ethereum does. Along with the launch of the Tron virtual machine, the developers also introduced their own platform for smart contracts, called Era.
According to Sun, thanks to TMV, the Tron blockchain will work 200 times faster than Ethereum, and 100 times cheaper than EOS. The Tron Foundation CEO also predicted that his cryptocurrency will soon be among the top 10 digital assets.
“If we look at the top 10 cryptocurrencies, we can see that many of them have lost the motivation to develop and improve their own product. Tron, on the other hand, is a young company with huge potential for growth. We are confident that within the next 10 months, Tron will be among the top 10 digital currencies,” said Sun to Investopedia.
According to information from CoinMarketCap, Tron is currently in 11th place in the list of the best cryptocurrencies.
When the company BitBay added pairs with TRX to its European trading platforms, the price of the cryptocurrency increased by 13%. Its price also rose 10 percent this week after BitFinex introduced new tools for Tron. This digital asset added another 7% to its value after BitTorrent’s announcement that one million uTorrent users are also users of the Tron blockchain. With the launch of TVM, Tron is well positioned to begin a new bull run.
According to https://www.ccn.com
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