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BitTorrent Returns The Favor, Applies to Become TRON Super Representative

July 26, 2018 18:36:15

 BitTorrent Returns The Favor, Applies to Become TRON Super Representative BitTorrent Returns The Favor, Applies to Become TRON Super Representative

BitTorrent has lined up among the latest candidates to become a TRON Super Representative. The spots are quickly filling up, with already 12 out of 27 representatives already producing blocks. Votes are trickling in slowly, but the network is moving to its completion.

Prominent backers of the TRON project, as well as CEO Justin Sun himself, have gained positions and have started receiving rewards as Super Representatives.

Within days, transactions on the TRON network began growing from around 20,000 per day to more than 44,000 per day. This is still ten times lower than the pace on Ethereum, but TRON is just starting out and the growth is encouraging.

But when it comes to price action, TRX has stalled and has been waiting for a recovery for weeks. The project is seeing extreme skepticism, and has been overlooked as risky. The recent release of a wallet, as well as the Changelly service, may add to the adoption, but TRX is not seeing immediate enthusiasm.

TRX hovers around $0.037, unable to break above the 4-cent level again. TRX is mostly dependent on Tether (USDT) trading now, and its performance may be speculative. More than 58% of trading happens against USDT, according to data from Cryptocompare as of 12:45 UTC this Thursday.


Surprisingly, OKEx trading has overshadowed the activity on Binance, where other coins are in fashion. But OKEx seems to be not enough to boost the TRX levels. The exchange, one of the more active for the Chinese market, in fact trades TRX on slim volumes, at around 2.63% of all trades.

The waiting for TRX to re-awaken only sharpens criticisms against the TRON project, which is still building itself up before offering a working product, distributed apps or other utility.

However, the low TRX prices are seen as temporary, and some traders predict another altcoin season to lift the levels.

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.

Category: News

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