Despite Promising Fundamentals, Tron Sheds More than 10%
Tron (TRX) has not been facing better days since the start of August. The crypto asset seems to be on the verge of further price drops since its June high of $0.04. Adding weight to the challenge, TRX has already been ousted from the top 10 performing cryptocurrencies. During press time, TRX is at position 14 by market capitalization. The coin is also trading at $0.015326 with massive losses of upto 12.01% in the preceding 24 hours period.
However, Tron CEO Justin Sun is still optimistic and on toes to have TRX listed on all cryptocurrency exchange platforms. With the most recent listing coming Uphold. The great news publicized Tron after Uphold exchange announced that it would list the coin on August 28. Unfortunately, the listing have not had any positive impact on the price of TRX due to a looming market wide downward correction.
Uphold Listing Tron(TRX)
A recent press release by Uphold Exchange offered to list upto 15 cryptocurrencies. In the new plan, TRX was first on the list and according to the UK-based exchange platform; the firm would be rewarding $50 worth of crypto to any user that makes the right guess on their next crypto listing held on a 15 day crypto countdown challenge.
The new crypto listing on uphold will also include incentives of 24 hours of zero exchange fees. However, the challenge will not be accessible to all countries, especially those under strict crypto regulations; such as China and the United States.Meanwhile, the listing announcement is such great news to Tron followers mainly given that; crypto asset prices tend to rise plus increase in trade volumes once an exchange announces a new listing. Following the news, Tron Founder Sun took to his Twitter to share the excitement.
Earlier this month, the founder staked his promise to have Coinbase list Tron (TRX). This, he explained as the assets number one priority and is yet to materialize. Additionally, the founder is optimistic on doubling the companies efforts to have ever major Us based crypto exchange list TRX.
Tron (TRX) Strength
Despite bleeding price heights from almost all avenues, Tron (TRX) has also been carrying the day from different aspects.For instance the crypto asset has been facing humongous transaction on both its blockchain. The daily transaction volume is promising given that its performing better compared to Ethereum. Additionally, the cumulative transaction rate has increased by 2-3 times that of Ether. Again, ethereum might have the highest registration of daily addresses but according to Infosec Manager Mike McCarthy; Tron carries the day with the highest number of daily active addresses.
About The Author
Richard M AdrianBlockchain Analyst with a demonstrated history of working in the writing and editing industry. Skilled in WordPress, Editing, SEO Copywriting, Copy Editing, and Blog Marketing. When I am not writing, analyzing bulls/bears - I will be listening to music, reading a thrilling novella or hiking. Email me at Richardmadrian@gmail.com - And we could talk about anything - business or dragons.
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