Tron did not have a very good 2018 – the project fell 30 cents in January, at about two cents. Of course, the whole market has been in a general crisis in recent months, so this is not too surprising, but many believed that the project led by Justin Sun would be one of the most successful projects of 2018, given the fact that Tron has spread rumors about partnerships with world-renowned companies like Alibaba and Twitter for some time.
Although price action has recently been disappointing, it is transforming and Tron's price dynamics (TRX) is growing, as it has increased by 9.9% in around 48 hours.
Of course, this does not mean that there is a rally of sustained prices going on, or that will exceed two cents to reach three, four or five cents. It is clear that since the project has lost so much market capitalization, it will take long for long-term investors to feel good about the project in general.
Next, there are key developments that are leading to this price increase. A massive expansion is the fact that the world's largest cryptocurrency exchange by daily volume, Binance after adding TRX / USD previously, has decided to create BNB / TRX pairs now.
– Binance (@binance) September 19, 2018
This means not only adding liquidity to Tron (TRX) but also suggesting that the exchange believes that the project will significantly increase its value over time. It certainly helps the general market sentiment and the public perception of Tron in general.
Binance is not the only exchange that is taking steps to make sure Tron has experienced more liquidity in the market. Although it is only available in some parts of the world, Bittrex has announced the addition of Tron / USD and Litecoin / USD pairs.
The fact that Tron has fallen so badly is unlucky, but given these two recent developments and the subsequent price action; It is easy to conclude that many buyers have decided that this is a great time to enter both a long-term outlet and a short-term trade.
Of course, there are significant levels of resistance and obvious mental resistance to both the five and ten cent mark, but if Tron (TRX) continues to have positive developments, perhaps the project can recover some of its former glory.
Tron's question is undoubtedly here at the moment, as he has already exceeded $ 100 million in 24-hour trading volume. Apparently, the future will determine if this type of volume will increase and if the price will continue to rise, or the plateau to a certain level.
As of now, it is clear that there is a demand for Tron (TRX) and a suggestion that prices will increase over a long period. The truth is that these new pairings will undoubtedly lead to greater volume for the project, but time will tell if this volume can be sustained to create a true trend inversion. Keep on Tron's eye – you never know what will happen.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. The author is long Bitcoin. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
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