TRX is pumping as the rest of the market trades in bears.
TRON (TRX) is one of the most decorated crypto projects in the market. It has often traded against the market trend since its arrival. TRX sees its price to cross $1 in the long-term but so far, we haven’t seen signs that could push the altcoin that high. But there is one aspect and that’s Bitcoin, which is anticipated to break its all-time high quite often in the future. Now, this comes with huge risk and uncertainty but that’s the beauty of this market, the more uncertain the more rewarding it is.
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What’s Happening?
Recently, TRON announced that it has signed a strategic partnership with Prosper to bring it on TRON’s Decentralized Finance (DeFi) ecosystem. Prosper is a non-custodial cross-chain prediction market and hedging platform that provides liquidity solutions—one of decentralized prediction markets’ serious issues.
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Prosper’s integration into TRON’s ecosystem will bring cross-chain prediction markets that have become a major part of the DeFi network. TRON’s DeFi ecosystem is growing swiftly and collaborating with top DeFi projects is the core initiative of TRX on being All-In on DeFi.
This deal is a win-win situation for both the parties, TRON and Prosper networks. For instance, TRON users will be able to use TRX as the basic prediction token for the features and functionalities of Prosper. This will help the TRX holder to manage its yield or hedge their positions. This would help in improving liquidity across prediction tools.
In the long run, this partnership would be beneficial for investments in TRON and they will have a more solid platform to decide about the holding of the token.
Moreover, Justin Sun reported that TRON has crossed the circulation amount of TRC20-USDT issued by Tether on the TRON network to 15.7 billion. This is quite an achievement. Tron is evolving as the fastest-growing blockchain for USDT issuance.
According to Sun, more than $12.4 billion Tether has been issued on the Tron network, so far and it is continuing to increase. This has resulted in higher transaction counts on TRC20-based USDT compared to transactions on ERC20-based tokens. This shows how TRX has shaped its ecosystem into a mass adopted blockchain platform for basic transactions.
Conclusion
Based on TRON’s developments over the past few years, TRX holds the potential to jump significantly, much more than the recent surge. We have seen how Cardano (ADA), another promising crypto project has made itself a big gun in the market. TRX is one of those few digital assets that remains a prominent one among investors.
- Tags: crypto, crypto market, Cryptocurrency, TRON, TRX
