If you have been paying attention to altcoins lately, you certainly know what TRON (TRX) is. Like Ripple (XRP), this cryptocurrency has enjoyed some spectacular growth recently. In the past 24 hours, the price of a single TRX coin (called “Tronix”) has only risen by about 1%. But looking back seven days, TRON has soared 91% higher!
If you look at how this coin was trading a month ago, its price has gained a whopping 3,129%! That kind of short-term growth is almost unheard of. Well, Verge (SVG) has actually made similar gains.
It is also exploding in popularity, particularly in social media. Here is its founder, Justin Sun, tweeting about it:
— Justin Sun (@justinsuntron) January 8, 2018
But what is this coin all about? Is it really worth the hype?
What Cryptocurrency Technology is Behind TRON (TRX)?
This is a pretty standard altcoin. It is a store of value, and can be used to send funds anonymously across the globe. But TRON, in particular, takes a certain approach that major coins like Ripple don’t. TRX is all about the entertainment sector.
The platform lets is users, who are meant to be entertainment content creators, publish and store its content on a decentralized system. The whole point is to allow content creators to reach their consumers directly.
For too long have intermediaries like the Apple Store had the power in their hands. No more high fees. It is a way of putting control back into the hands of artists – and the individuals that are consuming their content.
How can I buy TRON (TRX) – and what is the current price?
This coin is currently trading at 14 cents. That is a very accessible price for small-time investors.
Tronix can be traded using other cryptocurrencies on HitBTC or Binance.
Do you guys own any yet?
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.