TRON Price Increases By 11% Before Its Network Launch
May 21, the price for the TRON (TRX) token started from the rate of $0.0685 on the Bitfinex exchange. After a while, it continued to grow and overcame the rates of $0.7 and $0.8 for the token, eventually reaching a value of $0.084, but then it slightly declined.
Such indicators put the token on the 9th place in the capitalization, outstripping IOTA.
It is noteworthy that TRON is the only one to achieve positive price dynamics over the last week. All other cryptocurrencies from the top-10 reduced the indicators by 1% at least.
Significantly, BTC was the largest non-fiat pair for TRON, despite the fact that TRX operates on the Ethereum blockchain.
The rise in the TRON’s price may relate to its upcoming network launch which is scheduled for May 31. Until then, TRX is a part of the ERC-20 token structure therefore TRX long-term prospects will depend on the success of its network.
As previously reported, the TRON price sharply increased at the end of April.