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TRON Price Rises By 15% Over Past 24 Hours

15:52 01/05/2018

The TRON price increased by 15% on Monday. This happened against the backdrop of the overall fall in the value in the cryptocurrency market.


The total cryptocurrency market capitalization declined by $4 billion on Monday, April 30, as compared to Sunday. Eight of the 10 largest cryptocurrencies lost in value against the US dollar. Only TRON and ETH maintained positive dynamics. The ETC price increased by 1.5%.


According to CoinMarketCap at 21:04 UTC on April 30, the TRON price reached $0.1 with a total capitalization of $6.6 billion. This allowed the cryptocurrency to get among the top 10, ahead of NEO which is number ten by market capitalization now.


It is difficult to understand what factors caused such an increase in the cryptocurrency price. On Monday, in social networks there appeared information that the cooperation with Alibaba would be beneficial for TRON. This information was not confirmed anywhere but could have triggered the short-term growth of the cryptocurrency price. It is known that TRON founder Justin San is an alumnus of Alibaba.


Formerly, Alibaba founder Jack Ma made it clear that the company does not intend to engage in cryptocurrencies in the near future. At the same time, he still predicts a great future for blockchain technology.


As was previously reported, the equivalent of the CryptoKitties game will be launched on the basis of TRON blockchain.

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