Tron (TRX) is ranked at 22 in the market in terms of market capitalization. With a market capitalization of $4,563,271,447, the market cap observed a positive change of around 3%. At the time of writing, Tron (TRX) is trading hands $0.063. the price of the cryptocurrency saw an increase of 2% in the 24-hour timeframe.
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Tron coin was operating at $0.026 in December and after staying stagnant in January, the cryptocurrency surged in February to $0.060. Tron cryptocurrency fluctuated afterwards while falling as much as $0.045. The cryptocurrency has once again picked up bullish momentum and is on the rise. At the time of writing, Tron (TRX) stands at $0.063. A possible continual of the cryptocurrency’s upward trend can be expected at this point.
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Tron on the rise
The decentralized platform founded by Justin Sun in 2017 aims to make the digital content sharing ecosystem cost-effective and efficient. By eliminating the intermediaries, Tron connects content creators and consumers. The platform also makes use of distributed storage technology.
One of the most vocal advocates of TRON (TRX) is the actress Lindsey Lohan. Lohan has been active on her Twitter supporting the cryptocurrency. The actress has entered into a partnership with the Tron Foundation to create her own NFT (Non-Fungible Tokens) on the Tron platform. The actress plans on launching her exclusive collectibles on the platform soon. Lohan has also showed support for Justin Sun’s other endeavors and the young innovator has also been vocal of his support for the actress. Previously, Lohan’s tweets about the cryptocurrency had resulted in price surges. Time will tell what an exclusive NFT collection will do for the cryptocurrency.
As the world moves towards digitization, the art community is not lagging behind. From famous art pieces turned into NFT to dance moves being tokenized, non-fungible tokens are on the rise. Tron being one of the famous NFT may be leading the race in the coming days.
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Technical analysis
The market sentiment for Tron coin is bullish. With 9 of the technical indicators standing at neutral and 15 at a buy position, only two indicators are giving out a signal of sell. The moving Averages are supporting the uptrend of price by being highly bullish.
