Tron Flying High After Spin Master Sun Announces Product Launch
There is no doubt that Justin Sun – Tron Founder – is the master of marketing and PR stunts – sorry Kanye – and there is a torrent of evidence to back up this claim. Every time Sun posts a Tweet about Tron, the price rallies incredibly, even during the peak of crypto winter. This week Sun announced that BitTorrent was launching its own TRC-10 token on the Tron network in collaboration with the Binance Launchpad. This news has sent Tron into the stratosphere, up a whopping 54% this week alone.
The Network is Growing
Sun has been desperate to put his Tron Network to work, and by launching his BitTorrent token on the Tron Network he finally achieved that goal. Sure, Sun had to buy an entire company and monetize it for the Tron Network to experience this growth, but his plan appears to be working and appealing to Tron holders. Back in December, Sun offered to “rescue” dApp developers from the Ethereum and EOS networks in order to get more dApps over on Tron. It’s still early days, but it appears as if a few projects are actually considering the move.
Is the Data from CoinMarketCap Reliable?
The price movement data was collected from CoinMarketCap, one of the oldest crypto analysis websites. It’s the go-to website for most crypto enthusiasts, CoinMarketCap recently has come under fire for being rather inaccurate. Its method of calculated market capitalization is rather sketchy at best and could be giving us all false readings – meaning the top five cryptos could look significantly different with the correct data. Fortunately, in this case – the significant price increase data – we can be fairly sure that the data for Tron’s meteoric price rise is legitimate.
Tron Getting Charitable
We love to see companies getting charitable – especially around the holiday period – and Tron didn’t let anyone down in 2018. In December, Tron donated $100,000 in various cryptocurrencies to the Malta Community Chest Fund to help families from the Blockchain Island in desperate need. Binance matched Tron’s generous donation to boost the charity’s coffers by a hearty $200,000, giving the charity the ability to change the lives of hundreds of impoverished families across the island.
Tron is still on the rise according to the latest data from CoinMarketCap, up 19% in the last 24 hours. Investor confidence doesn’t seem to be falling, something that will make shill master Sun very happy. If it keeps growing at this rate, we could see Tron sneak into the top five by market capitalization before the year is halfway done.