In anticipation of the upcoming Tron MainNet launch that is less than two weeks away, Tron has yet again risen as the crypto market starts making gains. With its recent website redesigning and Justin Sun announcing the giveaway of a home, Tron is certainly managing to gain a lot of hype ahead of its big update.
Tron shows bullish signs
The market is yet again on the rise, however small it might be. Though it can surely be taken as a sign that cryptos are trying to gain ground after seeing a lot of red for the past couple of days. One of the coins that are making its steady way upwards is Tron.
Bitcoin is up by 1.71% at $8,386 while other coins like Ethereum, Ripple, and Litecoin are up by 3.12%, 3.21%, and 2.01% respectively. At the time of writing, Tron (TRX) is at the 10th position and at $0.071527 price level while registering the gains of about $9.17 percent.
In anticipation of its upcoming Tron MainNet launch and the support this cryptocurrency has gathered is surely working in its favor as TRX emerges with bullish signs.
Tron is outperforming a majority of its competitors though it is being tested for its long-term 200 SMA. The path to least resistance is on the downside which further means a selloff is more than likely to happen.
For the past few days, the slump in the market had been weighing on the Tron, though given the market’s momentum and its own surge, bulls are definitely taking the reins from the bears.
Mainnet launch excitement at its peak
Tron investors, for now, are holding out for the MainNet launch that is scheduled for May 31 that means more capabilities for the network and exciting things for the Tron community.
Justin Sun, the founder of Tron is constantly announcing the latest updates about MainNet launch. Recently, Tron website got revamped and the details of the TRONSR (Tron Super Representatives) for the new network codes have also been released.
For the upcoming launch, the consolidation is already going on as reportedly some exchanges like Bitfinex, Bitrex and Bit-Z have frozen the Tron holdings to support the upgrade.
When it comes to supporting the Tron update, big exchanges like Binance have already announced that they will be supporting the migration process and new wallet. Most recently, Bitpie Wallet also reported that it will support the blockchain upgrade and MainNet launch.
On May 15, Tron will be launching the Virtual Machine (TRON VM v.0.1) which is compatible with the Ethereum Virtual Machine.
After the MainNet launch on May 31, the TRX ERC 20 tokens will be migrated on June 21 for which investors would have to reportedly deposit their tokens in the Bitpie wallet.
Recently, Sun also announced that a lucky Tron trader or HODler will be getting a home as tweeted by him: Last year it was a Maserati and a Mercedes-Benz. This year we’re taking our giveaway to a whole new level — your dream home! Stay tuned. #TRON $TRX#TRX.”
What do you think of the upcoming Tron MainNet launch and the giveaway of a home? Share your thoughts with us!
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Being an active participant in the Blockchain world, I always look forward to engage with opportunities where I could share my love towards digital transformation.