TRON (TRX) Popularity Grows, but Price Slides Below $0.02

The TRON (TRX) project remains one of the high-profile platforms with growing popularity. By many measures, TRON is among the leading crypto projects. Unfortunately, the TRX market price has gone through a long slide, and it fell below the $0.02 level in the past week.

TRX market prices slid below the $0.02 range on September 8, trading at around 312 Satoshi. In the past three months, during which the TRON network was built to completion, the TRX market price started to unravel from approximately $0.05, with no signs of recovery. Trading volumes dwindled from regular levels of around $300 to $400 million in 24 hours, to about $100 million in 24 hours.

The latest price movements for TRON are mostly dictated by USDT-related activity on OKEx. Right now, more than 60% of TRX volumes are in the USDT pair. The high share of USDT makes TRX independent of BTC prices, but also allows for dollar-denominated speculation. Binance trading also defines the TRX levels, based on data from CryptoCompare.

In the meantime, TRON remained one of the most widely mentioned crypto coins on social media. Justin Sun’s profile is also highly prominent, gathering more than 439,000 followers. Based on the regular previews of CoinTrendz, TRON surpassed even Bitcoin in social media mentions:

https://twitter.com/CoinTrendz/status/1039121319328210944

TRON also expands its presence by being listed on multiple relatively small exchanges:

https://twitter.com/justinsuntron/status/1038717183193362432

The most recent bid to fame for TRON is the launch of BitTorrent Play for iOS users. The platform allows users to access entertainment content from their smartphones.

https://twitter.com/BitTorrent/status/1036329301715574784

The potential usage of TRON has helped the project surpass EOS in terms of total accounts, and even continue ahead with more and more users in the past few days. Currently, EOS statistics show 309,357 accounts. According to data from Tronscan, TRON has 327,847 registered accounts.

The transaction count for TRON is also rising. TRON now works through 377,498 transactions per day, a number that surpasses even Bitcoin’s network on certain days. In the past 24 hours, Bitcoin saw around 198,000 transactions, according to Blocktivity data.

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.