August 27, 2018 13:49:49
TRON (TRX) will start trading on KuCoin on Tuesday, sparking a new hope for a price recovery. As founder and CEO of TRON Justin Sun tweeted, the launch of trading is imminent:
TRX got listed on KuCoin after a series of smaller exchanges decided to support the asset. One of the reasons for the delayed listing is the protracted launch of the mainnet, which posed technical difficulties for exchanges.
The news comes just days ahead of the launch of the Tron Virtual Machine (TVM). For TRX, a price recovery has not yet materialized as expected. One of the reasons is the fact that TRX trades against other crypto assets, and its price is defined by that of Bitcoin and possibly Ethereum.
Based on data from CryptoCompare, the weight of Tether (USDT) trading for TRX is also significant, about 45% of all volumes. But still, the dollar price of TRX is highly dependent on BTC positions.
As at 12:06 UTC, TRX trades at $0.24, up 5.8% for the past 24 hours and 8.1% compared to a week earlier. Last week, TRX reached lows at around $0.19, before starting its ongoing price recovery. For the recovery to continue, the TRON project will have to prove its technical strength, as well as the strength of its community.
After the token swap and mainnet launch, the TRX digital asset has also become easier to move around. In a recent blog, the TRON team described the new wallet features, including multiple accounts, as well as an option to input contact names, instead of using addresses.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.
Read more: https://cryptovest.com/news/tron-trx-adds-important-market-with-kucoin-listing/