HomeCryptocurrency NewsRise of the NFTS: Is Tron (TRX) close to a break out?

Rise of the NFTS: Is Tron (TRX) close to a break out?

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. ‎

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Muskan Naveed
Muskan is an economist-in-the-making with a knack for writing. What started off as a hobby has now turned into a possible career path. She specialises in fin-tech but would never say no to writing.

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