TRON witnessed a massive surge on Thursday. On December 4, the digital currency was trading around $0.15, nearly 100% higher than the previous session's closing
Following the success of Bitcoin (BTC), ripple (XRP), and litecoin (LTC), another upcoming digital currency 'TRON' witnessed a massive surge on Thursday. On January 4, the digital currency was trading around $ 0.15, nearly 100% higher than the previous session's closing. After the jump, the market capitalization of TRON jumped to nearly $10 billion, while the market cap closed at $5.17 billion on Wednesday. It is startling that the same figure a day prior was over $3.42 billion and $2.94 billion on January 1.
Five Things To Know About Tron (TRX)
The market capitalisation of Tron (TRX) has risen by nearly three times in past four days from nearly $3 billion to over $10 billion.
One must remember that on December 13, which is barely three weeks ago, the market cap of Tron stood at nearly $500 million, almost one twentieth of the current valuation.
Exactly three months ago, the Tron's price was hovering in the range of $98 million, which means the currency has risen 100 times in just one quarter. One tron, on October 4, closed at 0.003250 against its price of $0.15 on January 4. The currency price has risen by 4,500%.
Tron is a blockchain-based, open-source protocol for the global digital entertainment industry in which TRX, Tron's token, is circulated. It enables one-on-one interaction between the suppliers of digital content and the normal users. Thanks to tron, content providers no longer need to pay high channel fees to the platforms such as Google Play store and Apple's Appstore.
Tron was founded by Justin Sun. He is the only millennial student of Hupan University and a protege of China's tycoon Jack Ma, chairman of Alibaba Group. Justin secured a master's degree from the University of Pennsylvania after he received a bachelor's degree from Peking University.
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