The price of Tron’s TRX, the 11th largest cryptocurrency in the market, has been inconsistent for the past couple of weeks. It’s been subjected to many rises and falls, where on the other hand, the market has been relatively stable for the other significant cryptocurrencies during the whole month since the bullish trend begun after the unexpectedly (but welcomed) fabulous growth in the price of Bitcoin at the beginning of this month.
The said bullish movement that made sure to keep other currencies in its loop wasn’t constructive in the same regards with Tron’s price that keeps on falling slowly, which brings us to the question: Is there any positive news for the Tron in coming days? There sure is. Let’s dive into it.
Europe’s Giant Exchange Bitpanda is About to List Tron
On last Friday, April 26th, Austrian-based cryptocurrency exchange, Bitpanda announced that they are going to enlist Tron on the platform by May 2. With this announcement, Tron adoption and popularity is more likely to increase as Bitpanda is considered as one of the largest crypto exchanges in Europe.
Interestingly, Bitpanda has come to this decision by conducting a poll (on its Twitter page) among its user-base to choose which cryptocurrency they want to see on the exchange, and obviously, the larger number of the crypto community voted for Tron. TRX got 44% of the total votes.
Huobi DM Adds Support for Tron
Also on the same day (Friday), Singapore-based Huobi DM, one of the largest digital exchanges in the world announced that they are going to add support for Tron on the platform. With this announcement, the platform will facilitate its tradesmen to take leveraged positions on Tron’s coin (TRX).
Ross Zhang, the CEO of Huobi Group, made his views public about the said partnership with Tron as follows:
“The addition of Tron is another big step towards our goal of making Huobi DM the most powerful and flexible platform of its kind, Ross Zhang.”
Will these developments affect Tron’s price in any way?
With all the uncertainties hovering around Tron’s price these days, the takeout is that foundation isn’t really stuck behind, but instead, it is wholly focused (as always) on making moves and securing partnerships with globally renowned platforms that will have a long-lasting effect, both on Tron and the community.
We can recall that the coin has faced the same kind of circumstances in the past, but it stood out stronger than many major cryptocurrencies even during the previous bearish period and hold onto its price better than its contemporaries.
At the moment, the price of Tron stands around $0.023 ($0.022793 to be exact), and according to many crypto pundits, it will ascend to the $0.030 mark in the month of May. Although the pathway might have inconsistencies, the outlook of the Tron’s price is bullish for both medium and long term. The price is also predicted to rise to $0.1 mark by the end of this year along with some steep falls and rises expected in the same period.
Anticipating this strong bullish trend up for Tron, experts advise that short term traders should make their purchases right now. In doing so, there is a strong possibility of 50% gains for their investment in the next month of May. Long term traders, on the other hand, can profit in large extent if they can hold onto their investments until the end of next year, 2020, when Tron is expected to shine at mighty $2 mark.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
