TRON (TRX) Up Almost 50% This Week: What’s the Deal?

The world’s eighth-largest cryptocurrency, TRON (TRX), is making quite the bull-run this week. Throughout the entire crypto community, it is known that TRX, in the past, has been ‘pumped up’ on announcements of ‘potential partnerships.’ Justin Sun, TRON’s founder, is notorious for these types of marketing schemes via Twitter.

Is this the cause of TRX’s most recent bull run? Let’s find out!

The big bull run started on January 7th. On this day, Justin Sun released two tweets.

#TRON weekly report 12.29-01.04 International Version 🌎 🌍 🌏 #TRX $TRX

— Justin Sun (@justinsuntron) January 7, 2019

The first tweet was an outlined weekly report TRON’s developers have released ever since late-2017. Just after this report was released, Sun announced that TRX was available on BitKeepOS.

#TRX is available on @BitKeepOS, a decentralized multi-chain wallet currently covers 16 countries and serves millions of users. BitKeep wallet currently supports #TRON main chain, TRON #Dapp, #TRC10 and #TRC20 token. $TRX

— Justin Sun (@justinsuntron) January 7, 2019

BitKeepOS is a decentralized multi-chain wallet that is in 16 different countries and is used by millions of users. It remains unknown at this time if this is the cause for the coin to rise, but this is the only piece of news that could have contributed.

A few months back, TRON acquired BitTorrent, and the company has been steadily working on that project. The company just released a whitepaper on the new BitTorent Token (BTT).

The new whitepaper reads:

“TRON Foundation and BitTorrent Foundation are introducing a new cryptographic token called BTT along with an extended version of the BitTorrent protocol in order to create a token-based economy around the usage of networking, bandwidth and storage on hundreds of millions of computers on the internet. Our initial entry point is to introduce token-based optimizations to the existing BitTorrent protocol providing a way for the value of sharing bandwidth and storage to be captured by network participants beyond the point at which the current protocol no longer values it.”

Today, Cointelegraph reported that TRON has also secured its first Chief Compliance Officer that has a background with the SEC. This news may also be the cause for TRX’s rise on the market in the last 24 hours.

>> TRON Hires Former SEC Attorney: TRX Soars Today!

There has been quite a change in the company’s marketing tactics, though. It seems Justin Sun has dropped the ‘announcement of a future announcement’ tactics and only releases news when it’s something substantial—a positive step for the crypto community as a whole.

According to CoinMarketCap, TRON (TRX) is currently trading at $0.029 a coin, up 14.18% in 24 hours.

Featured Image: Depositphotos © hitdelight

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