Tron's TRX increases 11.6% on the launch of BitTorrent tokens on the Binance Launchpad

TRON's TRX token has seen its price rise in the last few hours as traders are apparently reacting to an announcement that reveals that the BTT BitTorrent token will be launched on the Binance launch platform, Binance Launchpad.

As already mentioned, the TRON Foundation, led by Justin Sun, has acquired the peer-to-peer file sharing platform with over 100 million users last year, which at the time saw an increase in the price of the TRX of 17%. The BitTorrent BTT token, which will be launched on the Binance token launch platform, will allow BitTorrent peers to incentivize activities that lead to better file sharing. "

You lost the livestream on our new BitTorrent token $ BTT? Here is a summary for you! Visit our website to learn more about the token and its crowdfunding #BinanceLaunchpad @binance https://t.co/xq4qdCMKDl pic.twitter.com/OfxUrM7JlI

– BitTorrent Inc. (@ BitTorrent) January 4, 2019

Given that Binance is one of the largest trade in cryptocurrencies based on trading volume, its Launchpad will probably help projects gain visibility and more users. Current TRX users will be rewarded with BTT tokens, which will depend on the TRON blockchain network in a way that is set to "benefit the whole ecosystem".

Shortly after the announcement, the price of the TRX token started to rise and is currently outperforming the top 100 cryptocurrencies by market capitalization. The MVIS CryptoCompare Digital Assets 100 Index, a weighted market capitalization index that tracks the 100 best-encrypted, is currently up 0.6%, while the TRX has increased by 11.5% in the last 24 hours.

For available data, TRX rose from $ 0.0204 to $ 0.0232 at time of printing. Given the increase, its market capitalization is $ 1.55 billion, making it the 10th largest cryptocurrency.

There are other positive developments of the TRON Foundation to support the rise of cryptocurrency. These include an increasing number of developers working on the project and statistics from the TRON network, which have revealed that it now has over 1 million accounts and 83 decentralized applications (dApps). At the end of last year, it exceeded 100 million transactions.

Moving forward, the TRON Foundation ambitiously revealed that it is trying to see TRX become a top 4 cryptocurrency and to see its ecosystem grow larger than that of Ethereum in an attempt to "make Tron the largest decentralized ecosystem".

As of December 24th, the total number of accounts on the TRON global network has exceeded 1 million. By the last day of 2018, the number of #DApps over it #TRON reached 83, concluding the year with a success. #TRX $ TRX https://t.co/F6JJsPVyfb

– TRON Foundation (@Tronfoundation) January 4, 2019

Most of the other major cryptocurrencies are also present in the last 24-hour period. Bitcoin, the top cryptocurrency, rose 1.37% to $ 3,900 while Ether, the second crypt by market, grew 4.05% to $ 159.7.

Other top altos are rising between 1% and 3%, with litecoin up nearly 9%, as it trades at $ 34.8.