How Tron’s (TRX) Growth Might Have been Predicted

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Starting on the 10th of December last year, TRON showed steady growth, doubling in price in an unstable market.

At the moment, TRON is in 8th place in terms of capitalization, not far from the top 5. Could that have been predicted? We think so, as there were a few indicators that this kind of growth might have been coming.

Source: Datalight

 

BitTorrent acquisition


It is widely known that in the summer of 2018, TRON acquired the most popular torrent tracker in the world, BitTorrent. That already gave TRON some momentum.

A few weeks ago, it was announced that BitTorrent will release its own BTT token on the TRON platform that can be obtained for activity with torrents. Considering that the number of BitTorrent users has exceeded 100 million, realization of this fact undoubtedly contributed to the hype around the project.

Blockchain activity


After transitioning to its own platform at the end of June 2018, the number of blockchain transactions on TRON has steadily increased. In December, the number of transactions exceeded 3 million for the first time. Since then, this number has not dropped below 2 million transactions per day. According to this indicator, TRON occupies the second place ahead of Bitcoin, Ethereum and XRP, only behind EOS.

A similar situation can be seen with another important indicator of blockchain activity as the number of TRON accounts has exceeded 1 million, an increase of 600,000 accounts in the last 30 days.

Ambitious goals

Justin Sun, CEO and founder of TRON, has set a number of ambitious goals for 2019:

● Enter the top 4 list of cryptocurrencies at CoinMarketCap
● Make TRON’s ecosystem larger than that of Ethereum
● Bring 100 million users of BitTorrent into the TRON ecosystem
● Make TRON the largest decentralized system.

While these goals may seem highly ambitious, 2018 was undoubtedly an impressive year for TRON.

Source: Datalight

Steps to legitimacy

TRON is trying hard to solve problems with respect to its legal status.

On the 10th of January, a chief compliance officer appeared in TRON’s team. David Labhart, former United States Securities and Exchange Commission (SEC) supervisory attorney, will try to settle the legitimacy of TRON in the United States and other jurisdictions.

The market responded immediately to this information with growing social media hype and a corresponding increase in TRON’s price by 32%.

There may or may not be solid fundamentals underpinning TRON’s growth. But you don’t have to follow every news story and be a blockchain specialist to make accurate trading decisions. You can follow the mood of the market, influenced by a collection of indicators.

XRP Trading Now Available to Customers of Huobi Marketplace in USA and China

On Thursday (April 18), Huobi Marketplace (formerly known as "HBUS"), the cryptoasset exchange operated by San Francisco-based company HBUS Holdco, Inc. ("HBUS"), the exclusive U.S. partner of Singapore-based Huobi Global Limited (“Huobi Global”), announced that XRP trading had become available on Huobi.com.

The Huobi Marketplace originally went live under the "HBUS" brand on 10 July 2018. Initially, trading was only available in Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Tether (USDT), Civic (CVC), Dash (DASH), and TrueUSD (TUSD). By 29 November 2018, 12 cryptoassets and 35 trading pairs were supported. 

Then, on January 11, HBUS published a blog post in which the company's CEO, Frank Fu, said that HBUS had "obtained exclusive rights to use the Huobi brand in the U.S." and changed the name of its marketplace (i.e. crypto trading platform) from HBUS to Huobi. HBUS also said that it had migrated "from its previous website (www.hbus.com) to the new domain at www.huobi.com."

In a press release issued on the same day, which was also posted to its blog, HBUS explained that it would continue to be "the company operating the U.S. trading platform," while Huobi Global, Huobi Group’s flagship digital asset exchange, would continue "to operate under its own name at hbg.com."

Here is how HBUS explained the advantages of this strategic partnership with Huobi Global:

"The exclusive licensing agreement and partnership gives HBUS a reputable brand to provide U.S. traders with localized trading experience. A closer relationship also means more technological support from Huobi Global for HBUS, which will provide advanced stability and security features."

Thursday's announcement by Huobi Marketplace informed customers that in order to provide them with "carefully vetted and high-quality trading options," it was adding support for XRP:

"Starting now, you can deposit XRP on the Huobi Marketplace, and the estimated opening time for XRP trading and withdrawals will be April 19th, 2019 at 12:00AM PST. Supported XRP trading pairs include XRP/USD, XRP/BTC and XRP/USDT."

 

Featured Image Courtesy of HBUS