All ICOICO statsRatingReviewsBlogNews Wallets Mining Exchanges Chart Events
Join

Tron Price: TRX Soars By 10% As $100 Million Blockchain Gaming Fund Is Announced

02 december 2018, 14:49 by John Kiguru

Tron Soars By 10% As The Project Announces $100 Million Blockchain Gaming Fund

The last couple of days have seen bulls bring back life to the market. After what has been arguably the worst sell-off of the year, the market finally looks like it is on its way to a recovery. In the less than two weeks bitcoin dropped by 40% seeing the market wipe off over $70 billion. During the same period, Tron dropped from highs of $0.024 to hit a year low of $0.011.

This drop came despite the project’s recent upgrades and developments. Some of these developments have even led the CEO- Justin Sun, to claim that Tron will secure a top 10 position in the next couple of months. Fortunately, this will only require it to move Cardano which holds the tenth position. At the time of press, Tron has a market cap of $1,015,985,820 and Cardano is at $1,074,779,640. If Tron is to continue with its impressive growth, it could just overtake Cardano in the coming days.

TRON/USD Price Chart, Sunday December 2nd:

Tron TRX Price Chart, December 2nd

Yesterday, Tron surged by more than 10% extending its gains from previous days. Looking through the top cryptocurrencies, the bulls seem to be struggling to keep the bullish momentum going. Several coins, including bitcoin, keep slipping back and allowing bears to temporarily drag prices down. However, so far it seems that the bears have the upper hand.

On November 29, Tron tested the $0.016 position but encountered resistance. A price correction followed seeing the coin settle around $0.015. The bulls will be looking to capitalize on the positive momentum and retesting this position again.

The coin is currently riding on some positive news that almost guarantees it headlines and possibility to extend its gains. The Tron project has announced that it will be launching and funding what it calls TRON Arcade.

According to the project, Tron will invest $100 million in the next 3 years towards TRON Arcade. Through the platform, the CEO says that they will be able to attract many developers to the Tron project.

With every passing day, Tron seems to be growing and developing its project. With every development, it is getting harder to argue with Sun that Tron will soon secure a top ten position in ranking.

Follow TokenTops on Twitter and Join Our Telegram Group to stay notified about new articles, cryptocurrency news, ICO announcements and price predictions and analysis.

Legal Disclaimer: Please remember that trading, buying or any other type of investing in cryptocurrencies should be consider risky and may lead to the loss of all of the invested money. For further information visit Terms and Conditions section on TokenTops. We do not encourage our readers to any kind of financial decisions. Neither tokentops.com nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from tokentops.com. We believe that everyone should make their own and in depth research on the particular topic in various sources before making any financial decision and this person should be the only one responsible for the outcome. Our writers do their best to remain unbiased and don't actively support any project. The research is done with various sources, the predictions are based on own believes, analytical skills, experts and community discussions and is intended to convey general information only. 

You may also like

Comments

Write comment 0 comments

You need to login to create comments.

Get the week’s best ICO right in your inbox