The price for TRON increased by 94% on Thursday after the founder of this decentralized platform has announced a major partnership with a public company. In total, over the last 24 hours the price of TRX, increased by 150%.
This morning the price of TRON has risen to the level of 0,16 US$. And for the first week of 2018, the cryptocurrency, which is just 4 months increased by 400 percent.
At the moment TRON market capitalization is $ 11 billion, which puts it in ninth place in the ranking of cryptocurrencies. TRON capitalization of just $ 1.6 billion less than the capitalization of litecoin, and has surpassed the level of capitalization of many well-known cryptocurrency such as Dash, Monero and Ethereum Classic.
The growth rates for TRON was accompanied by the explosive growth of trading volume. Over the past 24 hours, the turnover on the currency only on Binance exceeded $ 2 billion. A significant increase in trading volume is also observed on the South Korean stock exchange Coinnest.
The founder of the TRON to announce a serious partnership
The increase in the price of TRON is based on assumptions of investors that large companies are preparing to begin to use this platform. This assumption is not unreasonable.
Last week, the founder of TRON Justin San, who many called the next Jack MA has published several tweets in which he hinted at a new partnership agreements with large and established companies. According to the first tweet published on Tuesday, a company that Lisitsa on the NASDAQ and has more than 100 million users, contacted TRON, with a proposal of partnership.
More partnerships are coming! Even #NASDAQ listed companies and the giant companies with more than 100 million users started to contact us for partnership. We will be huge soon! #TRON #TRX $TRX— Justin Sun (@justinsuntron) January 2, 2018
The second tweet was posted this morning in which Justin stated that TRON has partnered with “a very prestigious public company,” and the details will be announced next week.
We will announce our partnership with a very prestigious public listed company next week. Looking forward to it!— Justin Sun (@justinsuntron) January 4, 2018
Those tweets, apparently, have increased the demand for TRON, as investors believe that the price will rise both long and short term. However, potential buyers should remember that the announcement of the partnership is not itself a partnership, not to mention the fact that while it is not clear what kind of company it is.
Moreover, the TRON project still very far from implementation although the development team of the project and includes a number of former developers of Alibaba.