Tron Price: TRX Soars By 10% As $100 Million Blockchain Gaming Fund Is Announced
Tron Soars By 10% As The Project Announces $100 Million Blockchain Gaming Fund
The last couple of days have seen bulls bring back life to the market. After what has been arguably the worst sell-off of the year, the market finally looks like it is on its way to a recovery. In the less than two weeks bitcoin dropped by 40% seeing the market wipe off over $70 billion. During the same period, Tron dropped from highs of $0.024 to hit a year low of $0.011.
This drop came despite the project’s recent upgrades and developments. Some of these developments have even led the CEO- Justin Sun, to claim that Tron will secure a top 10 position in the next couple of months. Fortunately, this will only require it to move Cardano which holds the tenth position. At the time of press, Tron has a market cap of $1,015,985,820 and Cardano is at $1,074,779,640. If Tron is to continue with its impressive growth, it could just overtake Cardano in the coming days.
TRON/USD Price Chart, Sunday December 2nd:
Yesterday, Tron surged by more than 10% extending its gains from previous days. Looking through the top cryptocurrencies, the bulls seem to be struggling to keep the bullish momentum going. Several coins, including bitcoin, keep slipping back and allowing bears to temporarily drag prices down. However, so far it seems that the bears have the upper hand.
On November 29, Tron tested the $0.016 position but encountered resistance. A price correction followed seeing the coin settle around $0.015. The bulls will be looking to capitalize on the positive momentum and retesting this position again.
The coin is currently riding on some positive news that almost guarantees it headlines and possibility to extend its gains. The Tron project has announced that it will be launching and funding what it calls TRON Arcade.
According to the project, Tron will invest $100 million in the next 3 years towards TRON Arcade. Through the platform, the CEO says that they will be able to attract many developers to the Tron project.
With every passing day, Tron seems to be growing and developing its project. With every development, it is getting harder to argue with Sun that Tron will soon secure a top ten position in ranking.
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