Justin Sun’s Tweets Pay Off for Tron; Data Suggests TRX Addresses Rise with Hype
Yet the man who was once (and still is) mocked for his overzealous approach to self-promotion now appears to reaping the benefits of all the Twitter-storms he’s triggered over the last year and a half.
Justin Sun’s Tweets Are Paying Off
According to independent data from analytics group, DataLight, the number of new Tron accounts are on the rise, as are the number of the coin’s mentions on Twitter. Furthermore, the two appear to be correlated – as the hype train ramped up towards the end of 2018, so too did the number of new accounts.
As you can see on the above graphic, new address creations continued to soar throughout November and December, despite the crash in TRX’s value during that period. DataLight posed the following question on Twitter:
“Was @Tronfoundation’s X2 soar in just a month a speculative event or a sign of a healthy community?”
Never one to miss an opportunity, Justin Sun replied:
“A strong and healthy community!”
While the correlation does appear to be significant, it may be argued that the hype train begun a few months earlier, following the launch of the Tron mainnet back in June, followed up by the activation of smart contracts and DApps in October.
Weiss Ratings… Apologize to TRX?
The well-known crypto ‘predictors’, the Weiss Ratings, popped up on Twitter last night to offer something of an apology to the TRX community. As was retweeted by Justin Sun:
“We might give #TRON a hard time every now and then, but give credit where credit is due: The #TRX/USD pair is the most bullish looking chart of any top 10 project right now. The popularity of this project cannot be denied.”
The bullish outlook in question has already been on display in the previous month or so, as TRX shot to 214% from December into January. That’s when TRX raced to a peak of $0.034 by Jan 10th, before sinking back down to the current $0.027 range once again.
The Weiss tweet was met with rapturous applause from the Tron community, who seized upon the opportunity to throw out some more glowing Tron statistics, like this one which shows its rapid rise in transaction volume:
A sign of natural growth? Or an obvious bi-product of Tron’s gambling DApps?
Tron Price – TRX/USD
The broader market was in a small flux by time of writing on Saturday. The global cap gained $2.5 billion overnight, but gave up almost $1 billion of that figure in the morning hours.
Tron hasn’t required permission to move by the broader market in a few weeks now, and TRX continued its stubborn ascent with 9% growth. That took the coin price from $0.026580 up to $0.029005 – a new weekly high.
Disclaimer: The author owns Bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
Featured image courtesy of Shutterstock.