Within two days, Tron (TRX) makes double-digit percentage gains on the cryptocurrency market. At the time of writing, the price of TRX is $0.072, an increase of 25.58% in 24 hours. What is pushing the TRX price up?
Firstly, this could have been influenced by the recent news about the opening of an office in Taiwan that appeared after the interview between Justin Sun and Jason Hsu. It should be remembered that the Tron Foundation will now become part of the Taiwan Blockchain Self-Regulatory Organization. This is welcome news for the people of Taiwan, as such decisions will help create new jobs and entrepreneurship for the approximately 24 million residents.
Secondly, the launch of the main network (MainNet) on May 31 will be accompanied by a complete migration of tokens to the new platform on June 21. All TRX holders have been asked to transfer their tokens to exchanges in advance as the transfer will be done automatically. These are the most likely reasons for the hype and rush to buy TRX, influencing its current behavior in the market.
Third, Tron has a strong community that supports its decisions and market activity. More than 21,000 people have already subscribed to the official Tron channel on Telegram. Hodlers remain bullish, with traders laughing at their daily gains and hoping for a drop in TRX value so they can buy even more.
In short, the Tron project is heading towards the top with all the previous developments and those planned for the future. Initially, we could observe fear, uncertainty and doubts among the cryptocurrency community, but now many critics of the project are turning into hodlers. To be honest, I first considered this token as an investment asset just a couple of weeks ago when I watched the TestNet launch live stream.
According to https://ethereumworldnews.com
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