At press time, TRX, the official cryptocurrency of Tron, is trading for roughly 28 cents. This is a surge of nearly 11 percent and the currency may strike the 30-cent chord granted it can keep up its present momentum.
E-Toro Is Adding Tron
A big push came for Tron in the form of cryptocurrency investment platform e-Toro, which recently announced it had added TRX trading to its systems. E-Toro now has approximately 15 different cryptocurrencies on its platform, including bitcoin, Ethereum, Litecoin and bitcoin cash.
TRX will also be part of the company’s Crypto Portfolio, a program that allows investors to diversify their portfolios through multiple cryptocurrencies.
CEO and co-founder of e-Toro Yoni Assia comments:
Tron is making fast progress towards lofty ambitions and has rightly garnered the attention of the crypto community. Given the relative youth of blockchain technology, investors in crypto-assets are investing in big ideas and seeking out companies that execute on big ideas. Tron certainly ticks that box. At e-Toro, we look to offer investors access to crypto-assets that already have some clear success behind them.
This is certainly good news for Tron following the crazy promotion it invoked last week, only to cancel it days later. The crypto company hosted a contest in which the winner would be given a new Tesla vehicle, but the promotion came to what appeared to be a crashing end.
Following the announcement of the first winner, critics slammed the company for creating what was an allegedly doctored video announcing the winner’s name before the person had been officially chosen. Many also claimed that Justin Sun – CEO of Tron – drew nearly 90 names before settling on one. A second or “replacement” winner was named later down the line.
Ben Miller – an analyst with cryptocurrency intelligence and research agency Shark CIA – was particularly vocal about the project, saying:
To delete the first draw video and winner announcement, provide no explanation, then under the guise of ‘transparency’ do another draw with new rules, a misrepresentation of how many entrants Twitter allows, and a new draw sit that leaves no record of the actual draw conditions – it’s questionable.
Sun ultimately said that he would provide Tesla vehicles to both winners, saying that he didn’t want people’s trust in Tron to falter or die down:
We will more than likely have a few setbacks along the way. The team has taken some learnings from this, and we are more than happy to collaborate with Twitter and third-party developers to have good mechanisms to select winners (maybe even powered by blockchain technology).
Tron Moves Through the Ranks
Tron’s TRX is ranked as the 11th largest cryptocurrency in the world by total market cap. The company also recently acquired BitTorrent – a peer-to-peer site that allows users to share personal files – and saw over $41 million in trades on its new TronBet system.