Tron (TRX) Price Boosts as Millions Flock to Torrent Streaming Browser

The valuation of Tron (TRX) underwent a 7% increase leading into Saturday morning, adding to a continuous 14% climb over the last three days.

Today’s market boost comes off the back of yesterday’s livestream by Justin Sun, in which he updated the Tron community on the progress of Project Atlas – a new feature which seeks to introduce a cryptocurrency economy to the millions of users of BitTorrent; the torrenting programme owned by Justin Sun.

This follows on from the recent news tweeted by Sun that the recently launched uTorrent Web has already reached 1 million daily users, after launching little over a month ago.

Torrent Streaming

Justin Sun took to twitter to celebrate the rapid adoption of the new uTorrent Web application; essentially a web browser which allows you to stream torrents directly without having to go through the usual download process. Sun tweeted:

“µTorrent Web already surpassed 1,000,000 daily active users! This new product officially launched a month ago offers a streaming and torrenting experience…”

Meanwhile, the team at BitTorrent Inc confirmed the statistic in their own tweet on the same day (not that anyone would doubt numbers coming out of Tron):

“Proud to announce that our Web-based torrent streaming client, µTorrent Web, surpassed 1,000,000 daily active users. If you’re waiting for a BitTorrent Web, rest assured that it’s coming soon!”

The news was met with much applause from the Tron community, with more than one proclamation that TRX was now moonbound.

TRX/USD Responds

Just over 7% gains for the twenty-four period isn’t moonbound, but is the best performance out of all the coins and tokens in the market cap top-twenty as of Saturday morning. From a low of $0.022649, TRX climbed to a valuation of $0.024275 – the highest since the market surge of mid-September.

TRX gains have been subtle but steady for while now, growing 14% in the last three days, and 19% in the last ten.

This morning’s action may also have something to do with whatever’s going on at the Rfinex exchange right now, where the TRX/ETH market accounts for $17 million of the exchange’s total $22 million turnover.

According to data present on CoinMarketCap, TRX has thus far failed to feel any discernible boost from the recent addition of three TRX/Fiat pairs on the Bitfinex exchange. The addition of TRX/EUR, TRX/GBP and TRX/JPY.

The news was enough to push the TRX valuation up 9.6% just over two days ago, and compounds a busy flurry of activity for TRX, which now appears to have become more responsive after several months of apathy.

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.

Greg Thomson is a freelance writer who contributes to leading cryptocurrency and blockchain publications like CCN, Hacked, and others.