On the morning of Jan. 4, the cryptocurrency TRON (TRX) posted 136 percent growth, becoming the 9th largest cryptocurrency by market capitalization, and pushing Dash to 11th place.
The altcoin has been on a bullish trend since mid-December, growing well over 2,000 percent since then. In the first week of 2018 alone, the coin has seen almost 300 percent growth. TRON hit $0.20 earlier today, and is currently trading at an average of $0.17, with a market cap of $12.4 bln at press time.
What is TRON?
TRON markets itself as a Blockchain-based protocol for the entertainment industry – a platform for content distribution in which TRON’s native token, TRX, is circulated. The project ran an ICO in early September, hitting their fundraising goal of $70 mln. TRX has been trading since mid-September.
In the past few days, the founder and CEO of TRON, Justin Sun, has posted a couple of tantalizing tweets that hint at upcoming partnerships, without disclosing any names or details.
On Jan. 2, Sun tweeted about potential partnerships with “giant companies”, noting boldly “We will be huge soon!”.
— Justin Sun (@justinsuntron) January 2, 2018
Early morning Jan. 4, Sun followed up with a second teaser tweet about an upcoming “prestigious” partnership to be announced next week.
We will announce our partnership with a very prestigious public listed company next week. Looking forward to it!
— Justin Sun (@justinsuntron) January 4, 2018
On Dec. 31, Sun predicted that his project’s cryptocurrency would break into the top ten in 2018, a feat it managed to accomplish in just the first four days of the year.
— Justin Sun (@justinsuntron) December 31, 2017