The world’s eighth-largest cryptocurrency, Tron (available on Binance) (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 (available on Binance)’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!
Tron (available on Binance) (TRX) Up Almost 50%
The big bull run started on January 7th. On this day, Justin Sun released two tweets.
#Tron (available on Binance) weekly report 12.29-01.04 International Version 🌎 🌍 🌏 #TRX $TRX https://t.co/xtlAG9XoRo
— Justin Sun (@justinsunTron (available on Binance)) January 7, 2019
The first tweet was an outlined weekly report Tron (available on Binance)’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 (available on Binance) main chain, Tron (available on Binance) #Dapp, #TRC10 and #TRC20 token. $TRX pic.twitter.com/EIMe5wBmRi
— Justin Sun (@justinsunTron (available on Binance)) 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 (available on Binance) 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 (available on Binance) 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 (available on Binance) 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.