Altcoin News

Tron (TRX) Still Holding: Most Recent News on Ethereum’s Rival

Despite multi-million worth in dollar – Bitcoin hack that just took place to the world famous cryptocurrency exchange Binance, the prices are holding their position very confident compared to the past when a renowned crypto-exchanging platform was hacked which caused a strong deepdive movement.

Per time of writing, one of the most popular coins in the industry TRON (native token TRX) is leading the recovery with 2.90% in the last 24-hours against the US Dollar reaching a market capitalization of $1.655 bln with a price of $0.0248. For a very short time on the 7th of May it did drop below $0.02400 alarming traders that a speedy decline could be incoming, but buyers engaged the opportunity and the value rose up again.

TRX Price analysis
Source: coinmarketcap

Keeping in mind how all altcoins in most cases tend to follow the crypto-pioneer’s movement, if the sentiment remains positive or mid-ranging it is looking very well for the TRX/USD to stay at least above $0.02460 for the upcoming days.

Also Read: Binance Hack Aside, here are 4 Reasons Why Bitcoin (BTC) Investors are Confident

According to DappReview, Tron has 397 dApps successfully released. A few weeks ago Tron’s growth rate was approximately 2 dApps per day, however this frenetic growth seems to have stabilized. Despite the significant expansion, Tron has a long way to go to meet Justin Sun’s goal which is to make Tron the main platform for decentralization application development within the ecosystem. For now, the undisputed “dApp Champion” is Ethereum with over 1700 dApps supported.

Covered in detail by Alex Korwin (EWN team) –
The Tron Foundation has arranged a new partnership with a lending startup Cred, which provides loans in crypto from its $300 mln lending capital. Now, as a bonus, it offers TRX holders to get 10 percent of interest on their crypto holdings per annum.

Alex Tomzack
About author

Alex Tomzack is a crypto-enthusiast and has been fascinated since first hearing about it. Loves technology, writing, culture while being a regular trader and holder of digital assets. Email: [email protected]
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