Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
We have a new entry to the Top 10 Cryptocurrencies list, as TRON now occupies the number 8 spot after the recent price surge.
Nothing can stop the crypto rally as things are getting more and more interesting with each passing day. The cryptocurrency market valuations are at a record high of $772 billion, at the press time. It is just past 36 hours that the cryptocurrency markets crossed $700 mark for the first time and the momentum has been absolutely unstoppable till now.
There is no doubt about it that Ripple and Ethereum have remained at the forefront of this rally in the crypto markets. However, of late, we have seen some other not-so-famous altcoins making silent moves. Stellar Lumens started 2018 on a spectacular note as the cryptocurrency by 30% on the very first day of the year.
Now, it is another altcoin – TRON (TRX) that is gaining immense popularity within the investor community as the cryptocurrency has surged by more than 150% in just past 24 hours and has clinched the number 8 spot in the list of top 10 cryptocurrencies by market cap. According to CoinMarketCap, TRON (TRX) is currently trading at $0.20 with its market cap over $13 billion USD.
It has been just four months that TRON has made an entry in the cryptocurrency markets and the cryptocurrency is getting a lot of attention from several ‘NASDAQ listed companies’, says TRON founder Justin Sun.
— Justin Sun (@justinsuntron) January 2, 2018
TRON has some sort of troubled ICO launch back in September 2017, following China’s ban on local cryptocurrency exchanges. The cryptocurrency recently came into the limelight following a recommendation from John McAfee.
Just like other cryptocurrencies, TRON is aiming at making available low global transactions. Using distributed storage along with the blockchain technology, TRON also aims to build a worldwide free content entertainment system. This platform aims to give the fundamental ownership of data to the users making it completely decentralized system of sharing content.
Just like Ethereum TRON also allows third-party developers to build their own decentralized applications (DAPPs) on its platform. Last month we had seen a game named CryptoKitties getting much famous on the Ethereum blockchain platform. CryptoKitties is an interesting game that allows users to buy purchase digital kittens, breed them and them trade them in exchange for Ether tokens. The game’s popularity was so high that it consumed a majority of hash power on Ethereum network thereby slowing down transactions.
On a similar approach and concept, TRON is soon set to launch crypto TRX dogs. For this, TRON has made a partnership with online gaming platform Game.com wherein users would be allowed to trade virtual pets in exchange for TRX tokens. Two days back, founder Justin Sun tweeted:
— Justin Sun (@justinsuntron) January 1, 2018
We are pleased to announce our partnership with https://t.co/SCU7seVS4G, a leading online gaming platform and launch first #TRON dogs games https://t.co/QRt7WVYrZl, where users can use #TRX to purchase various pets and enjoy the companion of virtual pets. https://t.co/XHHOC4zZwy pic.twitter.com/Zp5H70asqT
— Justin Sun (@justinsuntron) January 3, 2018
Justin Sun is a 26-year old Chinese entrepreneur and has previously worked as the chief representative of Ripple in China. TRON is also said to have some of the very qualified personalities on its board which includes previous employees of Alibaba and other reputed firms.
TRON is currently expanding its horizons by forming important partnerships with businesses spread across different sectors that can ultimately benefit from the use of TRON’s blockchain solutions. Analysts believe that this year of 2018 could be fruitful for TRON’s development further.