Tron (TRX) has just secured five new fiat trading pairs, gaining exposure to currencies on four separate continents.
With the addition of Wednesday to Indacoin, an exchange of cryptocurrencies based in London and managed around the world, TRX gains access to the Australian and Russian markets, further consolidating its connections with the major western currencies.
Despite a 10% growth over the last seven days, TRX owners may wonder why Tron was not included in the recent wave of swings. That 10% pales compared to the 15-20% peaks experienced by XRP (XRP), Stellar (XLM) and Cardano (ADA), while Bitcoin Cash (BCH) is the obvious outlier (and perhaps catalyst?) With a 50% growth in the last week.
TRX Added to Indacoin
According to Wednesday's press release on the Tron Foundation Medium blog, TRX will now be paired with five fiat currencies:
"Main asset of the TRON public network – TRX is now available for the Indigoin cryptocurrency exchange Tron (TRX) can be purchased in USD, EUR, GBP, AUD and RUB Visa and Mastercard are accepted but the cards must support the 3D function Secure. "
Indacoin is not listed on CoinMarketCap. According to official documentation, it acts as an anti-fraud platform and assigns users a reliability score based on over thirty separate factors. According to the average post:
"Indacoin is an exchange built on the basis of the anti-fraud platform, using state-of-the-art technology to detect and prevent fraudulent attempts to purchase digital coins with bank cards, the system analyzes more than 30 different factors for the assessment customers to get the most accurate customer ratings. "
Mobile apps are available for iOS and Android that facilitate the purchase of cryptocurrencies using a debit or credit card. The funds can also be converted back into fiat and sent directly to the credit card, if desired.
TRX / USD … TRX / TEN?
Despite the TRXs relative lack of upward price movement over the past seven days, the volume of currency trading has continued to grow. From the $ 50 million daily total recorded seven days ago, TRX is now grinding over $ 180 million in trade – the highest sum in nearly a month.
Interestingly, over 40% of those transactions come from a small token – Tokenomy bag, through the TRX / TEN pair. Of the $ 110 million transactions on Tokenomy, TRX currently accounts for 65%.
Tokenomy was launched in the first quarter of 2018 and the "TEN" token based on ERC-20 is ranked near the 160th place by market capitalization. Was there another example of a large currency that was heavily traded against a single small cap utility token?
Regardless of this, the TRX price is in red starting on Wednesday morning, despite those extravagant tips that appear to be the result of CMC's data update.
However, with the volume of muted trade, and other announcements coming from the Tron headquarters (did you know that they just released a Tron clothing line?), TRX could reach the peak of the swing in a short time.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. It holds investment positions in the currencies, but does not carry out trading activities in the short term or daily.
Featured image courtesy of Shutterstock.