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Daily Transaction On the Tron Network Has Increased By 741 Percent. Series of Positive News Boosts Coin Value - Tron News, Price Analysis. Friday, August 31

31 august 2018, 17:01 by Jofor Humani

Important Tron Cryptocurrency News

Daily Transaction On the Tron Network Has Increased By 741 Percent

The Tron Foundation has announced that the number of accounts on the network has increased by 1,431 percent when compared with July numbers with the network presently hosting 282, 859 accounts.

Daily transactions have increased by 741 percent when compared with the July figures. The numbers have now surpassed the Tron accounts that are still on the Ethereum platform 11 times.

The network which plans to surpass Ethereum also said that they have 46 times more transaction than Ethereum which they believe lends credence to Justin Sun’s statement last July when he tweeted,  “TRON is 80 times faster than Ethereum. With 14 years of experience, @BitTorrent is providing a world-class service to 100 million users in 138 countries. Add the two together and you get the largest and most advanced peer-to-peer network in the world! #TRONBT $TRX”

Series of Positive News By Tron Founder Boosts Coin Value

Tron is one of the top 15 coins that have shown promise in recent times. This has been enhanced by the announcement by the Tron founder of partnerships that show practical uses of the digital currency. This has encouraged investors who are keen at knowing the direction a token is moving before plunging in.

Tron has maintained a sustained upward trend in the past two weeks recording 11 percent appreciation in value. Recent announcement of Justin Sun, the Tron founder shows that he is working with SesameSeed to develop Seedit according to an August 18 tweet.

Seedit is a peer-to-peer payment platform that enables users to appreciate content creators by sending them tokens. The project being built on the Tron network is an indication that the blockchain has real world use case. This contributes to the reward it has gotten from investors.

Other positive news from the network is the burning of 670 million TRX ERC20 tokens effectively marking a transition from a project that started on the Ethereum platform to one that runs on its own blockchain and the listing in exchanges such as KuCoin and Kryptono which offers TRX/BTC and TRX/ETH.

TRON Price

Tron May be Going for the Resistance Test

Data feed from Bitfinex show that the TRX/USD pair has intermittently traded horizontally and some analysts are going short on the pair.

A report by InvestingScope said, “TRXUSD broke through the first 1D Resistance at 0.023083 and is moving on to the final 0.0311151 test (neutral RSI = 53.294). If broken then the trend reverses on the medium term to bullish . For now 1W is still selling but approaching increasing neutral levels as well ( RSI already at 45.864, with MACD = -0.005, Highs/Lows = -0.0076, B/BP = -0.0188 not far behind). This neutrality may be an indication that the final Lower High is near before TRON makes a new bottom. For the moment we remain bearish with TP = 0.01410, and under conditions 0.009634 in extension.”

However, the TRX/BTC pair has had more positive reviews as seen from an analysis from Rludvik for Trading View who took a long position saying:

"TRX -1.70% is retracing right now and based on current situation, trade could be set up like this: 
- entry at 357 (this is 38.2% Fib retrace level and 61.8% FiB extension level and resistance/support from the beginning of TRX -1.70% era) 
- stop loss is a little bit tricky. I won't risk much and will set it up just below 61.8% Fib retrace level at 328 
 target 1 at previous high at 394 
- final target for this trade just below 161.8% Fib extension level"

TRX/USD Price Chart, Friday August 31st:

Tron TRX Price Chart

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