Tron Price Drops Below $0.035, Falling Out of Top 10
The price of Tron (TRX) has slipped down below $0.035 for the first time in months, and completely wipes out all the gains the token has made since April.
TRX tokens reached a price of $0.0347 just a few hours ago; which has since rebounded up to the $0.035 mark. But Tron had been holding steady around the $0.040 range for the best part of the month. Now that level seems to have completely collapsed, and Tron finds itself with 48% losses in the last thirty days. Going back to May, Tron has given up over 65% of its market value in that period – one of the worst performances from a Top-10 (now Top-11) in that period.
Tron’s 24 hour trading volumes have dropped drastically in that time – going from $1.8 billion. Such a figure pales in comparison to the daily volume of $123 million recorded in the last 24 hours. That volume exceeds Cardano, Stellar, NEO and Monero, yet isn’t enough to instill confidence is TRX remaining above the $0.035 mark.
Binance is home to the majority of TRX trades, with TRX/BTC and TRX/USDT pairs accounting for 32% of all of Tron’s movements. As expected, South Korean Won (KRW) trades make up the next biggest portion, with 28% of the daily trades coming from Bithumb and Upbit.
TRXXX? Tron and Pornhub
Tron was just accepted as a usable currency on Pornhub – one of the biggest porn sites on the net. Joining Tron on the porn platform will be ZenCash (ZEC). This marks what could be the opening of the floodgates in terms of crypto acceptance among online vendors. The porn industry is gigantic, and if crypto payments turn out to be successful in that space, then it may signal to other vendors that cryptocurrency is actually a viable payment option.
Regardless of the general adoption of cryptocurrency, there’s no question that Tron will benefit from the listing. While some of you may be wondering just who exactly pays for porn, I have been assured that many people do. The sheer volume of transactions should greatly benefit Tron and ZenCash.
Nataku Games, Brazzers, Traffic Junky
Accompanying the Pornhub announcement came a set of partnerships with Brazzers, Nataku Games and Traffic Junky. Details on how TRX will be implemented on these platforms remain scant; but given the transactional nature of many of these sites, it shouldn’t be too hard to imagine a payment widget being installed next to relevant products.
As an unbiased observer, I can only hope that users of Brazzers and Pornhub set their miner’s fee to a high enough level. After all, 30 confirmations can take a long time, and by that time the ‘moment’ may have passed.
Featured image courtesy of Shutterstock.