Tron, the new Ethereum

Posted by Matteo Poole on Jan. 14, 2019, 1:47 p.m.

Market Update: Tron - TRX

Recent news:

>Tron reaches 1 Million user addresses registered since its launch, marking an important milestone.

>The number of dApps developed on Tron network has crossed the 100-mark, with claims from Tron’s CEO, Justin Sun, that the number will overtake 200 in the near future.

>Tron is launching its own accelerator program, with next event called niTROn, on the 17-18th of January. The accelerator has $1 million in prizes for the best competitors, and aims to stimulate the development of dApps on Tron’s protocol.

Coin Correlation:

>Tron (TRX-USD) showed a weak negative correlation (-0.16) with Bitcoin (BTC-USD) during the last 30 days, that changed to significantly positive (0.45) in the last 14 days. The latest results still suggest that Tron can be a good hedge in a crypto-portfolio.

>Tron volatility has been on average 18% daily, and 357% higher than Bitcoin’s (at 5.72%), making it potentially a more lucrative asset but a riskier one.

TA: (See Graph)

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Written and Edited by - Matteo Poole - Markets and Strategy Analyst at Yanda

 

Disclaimer: Please keep in mind this is not financial advice, but just an augmented opinion, so don’t treat it as such.



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