Tron (TRX) Updates for the week and Price predictions
Tron (TRX): The past week has been eventful for the cryptocurrency. The digital currency has become the talk of the cryptocurrency community with its MainNet swap just around the corner. Let’s have a look at what it’s been up to and how its faring at the moment.
They have had several cryptocurrency exchanges announcing their support for the Tron token migration. Among them are BJEX, LoMo, HPX, OKCOIN Korea, Sistemkoin, IDCM, Cryptopia and Bitbns.
Investors need to deposit TRX’s ERC-20 tokens at the digital asset exchanges before June 25, 2018 (UTC+8). They will receive equivalent TRX token after the MainNet launch. During migration, no transaction is affected.
The crypto company is gearing up to celebrate Independence Day on June 25th, after completing the MainNet swap. According to founder Justin Sun, 1 billion tokens worth around 50 million dollars will be burned. According to the reports from Medium, the event is about to set the record for the maximum amount of money spent and destroyed in the history celebrations for a historic moment.
But the TRX developers have come under scrutiny after allegations from researchers from Digital Asset Research (DAR). According to them Tron (TRX) developers allegedly plagiarised code from other projects in the Tron codebase.
The crypto company became the talk of the town after they acquired BitTorrent for $140 million. In fact, Litecoin’s founder Charlie Lee commented on it saying,
“For some reason, this reminds me of the time when AOL bought Time Warner.”
Tron is increasing in value consistently. According to Smartereum, “Tron’s price managed to already surpass the 38.2% extension, and it’s closing in on the 50% extension at 0.05076. Stronger selling pressure could take the crypto up to the 61.8% extension or the 78.6% extension, 0.05400.”
According to wallet investor, TRON’s price can go up from 0.0440 USD to 0.121 USD in one year. Have a look their chart which predicts the coin’s price for the next few days.
Even with the Bithumb hacking news the coin seems to have fared better considering the bearish market of last week. Currently TRX is trading at $0.44, the prices have dipped by 2.52% in the past 24 hours.
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