From the launch of a social dApp, acquisition of BitTorrent, blockchain.org and the launch of the Tron virtual machine which is a good competitor to Ethereum, the Tron network seems ready to make impact...

Important Tron Cryptocurrency News

Tron Achieving Milestones Despite the Bear Market

The coin market’s performance in the past few weeks has not debarred the Tron network from meeting certain milestones. The network has announced that the daily transaction rate for the TRX has risen to 206,000 by the end of the month of August.



This is quite remarkable considering that the Tron mainnet was launched just two months ago. The Tron founder, Justin Sun does not miss any opportunity to promote the network and let people who care to listen understand that the network is growing at a faster rate than most competitors, especially Ethereum.



He also has maintained that the Tron network is better than Ethereum even though with just 302,000 registered accounts, the Tron network is still a long way less than the Ethereum network with 42 million registered accounts. Ethereum network has a daily transaction of 780,000.



Granted, Tron is pushing the limits as the network that few knew about months ago strives to become a top player in the industry. From the launch of a social dApp, acquisition of BitTorrent, blockchain.org and the launch of the Tron virtual machine which is a good competitor to Ethereum, the Tron network seems ready to make impact.

TRX Price

Tron is Down 4.47 Percent But with Strong Outlook

Tron is trading at $0.0175 at the moment with the coin within a strong area that has been a support. The present support last held before the August rally and there is chypher pattern completed by the price movement. There is a likelihood of a bounce as reported by Trading View:



“To confirm the bounce we have to get a close above the $0.019 and then we have almost free "road" to go until to the $0.022! In this area, TRX' have some previous month lows and Fibonacci retracement levels 38%-50% (pulled from 28.08 to today)”



Although the prospects are looking good for TRX, we would need extra confirmation through a build up of bullish momentum to confirm a clear reversal of trend. However, with Bitcoin starting slowly to recover after last days lows, it may affect the rest of the market and help other cryptocurrencies increase their prices.

TRX/USD Price Chart, Wednesday September 12th:

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