Tron [TRX] Gains 50% in a Week as Samsung and China Extend Blockchain Support

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Tron [TRX] Gains 50% in a Week as Samsung and China Extend Blockchain Support

Tron [TRX] recorded another positive leg to its bullish momentum, which began last week. Price gained 53.5% as the bullish reversal in the crypto started on 24th October 2019. It tested a short term high at $0.023. 

Price further added to the gains as Samsung extended support for TRX on its Blockchain Keystore.

trxusd bitfinex
TRX/USD 1-Day Chart on Bitfinex (TradingView)

The cryptocurrency markets witnessed a one-sided growth in the dominance of Bitcoin in the last quarter. The dominance of BTC is currently at 67%. Hence, the expected alt season hasn’t seen any momentum for the more significant part of the year.

Nevertheless, China’s newfound drive for blockchain benefits not only Bitcoin price but also smart contracts and DApps platforms. Apart from Tron, NEO gained about 56% with the increasing interest from Chinese.

The 35% gains in Tron got further accentuated yesterday at the Samsung Developer Conference currently underway. At the SDC, two new blockchain teams, Tron and Klaytn, have set up booths to attract developers.

Samsung Leads with Blockchain Integration Programs

Justin Jun, the founder of Tron, announced integration with Samsung at the event. Tron [TRX] will now be one of the critical elements in building DApps for Samsung smartphones.

The crypto can be stored and managed in Samsung’s Galaxy S10 and Note10 smartphone series. The apps will be able to access these cryptocurrencies natively. Tron [TRX] gained in double digits on the news. The price rose from $0.0204 to close at 0.0221.

trxusd
TRX/USD 4-Hour Chart on Bitstamp (TradingView)

The South Korean technology giant has begun blockchain implementation in its flagship models Galaxy S10 and Note10. Its’ Blockchain Keystore app allows for SDK integration to build DApps for its smartphones. Apart from these two cryptocurrencies, it supports Bitcoin and initially added support for Ethereum.

Which cryptocurrency do you think will be the most widely adopted smart contract platform? Please share your views with us. 

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Tron [TRX] Gains 50% in a Week as Samsung and China Extend Blockchain Support
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Tron [TRX] Gains 50% in a Week as Samsung and China Extend Blockchain Support
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Tron [TRX] recorded another positive leg to its bullish momentum, which began last week. Price gained 53.5% as the bullish reversal in the crypto started on 24th October 2019. It tested a short term high at $0.023. 
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Author: Nivesh Rustgi

Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com

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Nivesh Rustgi 686 Articles

Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com

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