Tron Foundation and its founder Justin Sun, have been key advocates of pushing virtual currencies into the space of mainstream adoption. The multiple updates and developments can support this fact the Tron roster has been putting out with a majority of them being network upgrades and alliances with other institutions.
It is without a doubt that the cryptocurrency market is going through substantial changes every minute, with the performance of most digital assets fluctuating consistently. Tron (TRX) has not been an exception to this trend as the 11th largest virtual currency on CoinMarketCap, is also failing to show significant price surges in the market.
However, as it has become the norm, Tron network updates and developments have kept pace with the weekly report published by the Tron Foundation noting all the significant developmental changes that take place.
Despite the stagnant performance in the past 48 hours, Tron (TRX) has been leading a weekend altcoin rally after the announcements of its plans to incorporate decentralized storage into BitTorrent the file-sharing platform.
According to Tron Foundation, the cryptocurrency company is keen to take advantage of BitTorrent’s superior platform to further boost and decentralize BitTorrent’s user base of 100 plus million. The peer-to-peer file sharing platform will integrate BitTorrent’s file sharing capabilities (BTFS) to allow users to host and receive storage on personal computers with other parties and businesses.
The Tron Foundation has also shown its commitment in topping its closest rivals, EOS, and Ethereum (ETH), with the introduction of Web 4.0 that is taunted to be a game changer in its space.
Tron (TRX) Sets a new Block Height Record
Tronscan, an analysis tool that is used to monitor the Tron network, gave the Foundation another reason to smile after it disclosed its findings that the block height on the Tron blockchain had yet again increased remarkably in recent days.
Today, on 4th June, according to the latest information from the Tron BlockChain Explorer, https://tronscan.org, Tron blockchain height managed to exceed the 9.8 million mark to stand at about 9,819,970 currently.
Bitcoin’s recent price plundering that has seen the number one cryptocurrency falling below the 9,000 US dollar mark on the wake of the most successful month-on-month rally since late 2017 has given way to the rise of altcoins. Given the current market condition, it is no secret that Tron TRX is leading the altcoin rise in the crypto market.
In the last 48 hours, the Justin Sun led virtual asset has managed to amass an impressive 17.41% price gain following the CEO’s announcement of an imminent big reveal. The news of this impending big reveal was publicized the first time on 31st May when Justin Sun announced that something big and amazing was in the works for Tron and BitTorrent. Justin Sun also mentioned that his stake in the partnership was 70 percent.
Tron other News and Price Analysis
Apart from Tron’s impressive block height milestone, Tron has also been making headlines with the news of Justin Sun winning of an eBay charity auction that will see him having lunch with renowned investor and mogul Warren Buffett.
It is reported that Tron CEO and founder bided a breathtaking 4,567,888 US dollars to win the charity auction, which has been a Warren Buffett’s tradition for the past 20 years.
At the time of writing, the value of Tron is currently being traded at about 0.0356 US dollars with the return on investment running at about 1600 percent positioning the virtual coin at number 11 in the market.
The market capitalization value of Tron (TRX) is about 2.3 billion US dollars, with its 24-hour volume standing close to about 1.1 billion US dollars. From the look of things, it looks like Tron is not turning back anytime soon. In January, Tron TRX opening value was 0.0196 US dollars, and now its value has increased by 80 percent already.
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.