After a rocky Q2 2019, Tron (TRX) appears to be back on the road to recovery after experiencing meteoric growth in the last week. The price of Tron currently sits at $0.0205, after climbing from as low as $0.014 in the past week, and is up more than 30% for the week.
Part of the rise comes in the last few days as the whole crypto market has jumped upwards, led by Bitcoin, on the news that China’s President Xi Jinping gave a speech all about blockchain technology. Coins with links to China—including Tron which is based there—performed better than most. For example, NEO and Ontology saw gains of up to 50% in the last week.
At the same time, Tron’s recent surge has been amplified by the news of an upcoming partnership with a $100 billion company. Tron CEO Justin Sun said, “It will broadly distribute TRON Dapps and tokens to billions of customers.” But he left the name of the company open to speculation, as per usual.
Although the crypto market had been on the decline over the last month, the price of Tron has actually been steadily rising. Over the last month, the price of Tron has witnessed a 50% growth. In doing so, it has re-entered the top ten cryptocurrencies by market cap, narrowly edging out Stellar (XLM) for the position. It now has a market cap of $1.36 billion. It is also keeping the likes of Cardano at bay, a plucky project gearing up for a big upgrade.