These are rather interesting times for anyone who is keeping a close eye on the TRON price. Although this currency has seen a rather solid downtrend for most of 2018, things are finally turning around as of late. Over the past 24 hours, the TRX price has noted a strong 7.71% increase, which indicates its value will surpass $0.02 fairly soon.
The TRON Price Momentum Grows Stronger
After a rough period last week, all cryptocurrency markets are going through some desperately needed positive momentum right now. Over the past 24 hours, the TRX price has shown there is plenty of fuel left in the tank. After a small setback last week, the recent price hike erased most losses in a fairly quick succession.
Assuming the current trend keeps up, TRON should have no problems surpassing $0.02 again. Even though the cryptocurrency maintained a value well above this level for several months throughout 2018, it is evident returning to higher values will remain an ongoing struggle.
Three key developments are getting a lot of attention as of right now. Binance, the world’s leading cryptocurrency exchange, is adding a new market for TRX. Its native Binance Coin token – or BNB – will be paired up with TRX as of today. This is an important development to take note of, as it can introduce additional liquidity for both assets making up this trading pair. By adding the BNB/TRX trading pair, it also shows Binance has relatively high expectations for TRON.
Bittrex, another prominent altcoin exchange, is also making some interesting changes. Over the past few days, it has become apparent the exchange would expose more altcoins to fiat currency trading pairs. You can now trade TRON – as well as Litecoin – against the US Dollar on the exchange. More liquidity in the fiat currency department is great news, especially for TRON.
Launch Update: TRON (TRX) and Litecoin (LTC) have been added to USD (Fiat) markets. Eligible #Bittrex accounts created before September 4 are enabled for trading. New user or want to deposit US Dollars directly? Request here: https://t.co/KA248OA2Bz pic.twitter.com/T7OgyqIDDY
— Bittrex (@BittrexExchange) September 17, 2018
Some traders are remaining positive when it comes to TRON’s price. Ryan Xander shares his thoughts, explaining how the volume appears to be building across exchanges. It is certainly true the current TRON price looks rather appealing to investors when comparing it to the all-time high reached several months ago. At the same time, those seeking short-term profits may be better off looking at different currencies.
— Ryan Xander (@RyanXander3) September 19, 2018
As is always the case, determining the future TRON price will remain challenging. Reaching $0.02 is a matter of time, but remaining above that level will not necessarily be easy. Thanks to its current trading volume of over $115m, the demand for TRON appears to be on the rise. The coming days will be rather interesting to keep an eye on, all things considered.