Tron moves up to the second position and becomes China’s favorite according to the latest CCID Crypto Rankings. The Chinese Ministry of Industry has mystified with its selection of criteria and put EOS on the top again based on its innovation but let’s see more about TRON in the latest TRX Tron News.
Tron established itself as one of the most quickly growing blockchains surpassing 3.9 million accounts. The network offers extreme speed thanks to the series of Super Representatives which send the transactions. The growing number of distributed apps, as well as the new minting of USDT on the TRON Network, are boosting the project’s positions as well.
Some have commented that Tron’s new ranking is a direct result of the major news that china’s president is planning to speed up the blockchain investment and development in the country. Since Tron is one of the largest cryptocurrencies by market cap in China, it stands to gain the most from China’s renewed interest in the space.
However, Tron has a lot of issues mostly pertaining to its credibility. The market price increased up to unseen levels above the $0.15 during the altcoin rally in 2017. Even at one point, the expectations of TRX reaching $1 created even more FOMO buying but the market price continued to crash and slide to new lows around $0.012. TRON also created a lot of doubts about its propensity to boost every milestone and this is what the co-founder of Tron Justin Sun is mostly known for.
What is even more interesting about how Tron moves up in the latest rankings is that Chinese authorities surrounded the asset around two years after its ICO. At that time, the token sale saw very low prices and it also fell into trouble as china put a ban on domestic ICOs. Some buyers on Binance even got the opportunity to rescind their purchase of TRX preliminary tokens. In the meantime, TRON tried to transform itself by purchasing BitTorrent in 2018. The project later organized a token sale through Binance for BitTorrent Token and continued to expand.
Tron is also one of the very few networks that is now carrying more than 800 million USDT. The Tron-based USDT is still listed on limited exchanges which can be an important factor in ensuring the liquidity for TRX and other assets.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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