TRX Price Stabilizes as Twitter Visits Tron HQ

After a week of compounding losses amounting to 17.5%, the value of TRX against the dollar has hit a period of relative stability. Tron opened the day’s trading at a price of $0.0331, and remained fairly unchanged over 24 hours en route to its price of $0.0336.

The increase on those fractions of cents add up to just over 1.5% recorded growth – nothing to write home about, but a welcome reprieve for a token which has taken some blows over the last few months.

TRX did hit a price of $0.0349 late last night, falling just short of $0.035 – a price many considered a key support for Tron. Of course, that was before the token plunged to a price of $0.032 between the 9th and 10th of July.

The month has been unkind to Tron, although the losses accelerated in the last seven days. TRX tokens began the month at the $0.049 mark before incurring heavy losses which amount to over 30% according to the current price.

April Fools?

The month of April was one of the best in Tron’s short history. TRX went from a value of $0.030 to $0.10 within the space of thirty days – that’s a 233% growth in one calendar month, and it catapulted Tron into the market cap top-10.

What followed since then, however, will be leaving many TRX holders wondering if the month of April wasn’t en extended April fools joke. Ever since the April 30th price of $0.10, Tron has nothing but sink on its way to 70% losses over 75 days. The only solace for Tron will be that it didn’t slip too far from its top-10 spot in the market cap rankings, meaning its losses were relatively in line with the rest if the market.

Twitter Visits Tron HQ

Tron creator Justin Sun is a polarizing figure who draws adoration and hatred in equal measure. But even Sun’s detractors have to concede his flair for firing up the hype train.

Another PR move may have taken place earlier today as representatives of Twitter met with Sun at his Tron offices. Justin Sun released this tweet, showing a selfie with him and the Twitter representatives.

The speculation surrounding the meeting mirrors the speculation regarding Tron’s possible integration into the Alibaba platform – a rumour which has been simmering away for some time.

Sun is one of the most followed crypto figures on Twitter, and recently grabbed headlines by buying up the well-known torrent platform, BitTorrent. That news was followed a few weeks later with the implementation of TRX payments on the adult video streaming website, Pornhub.

Tron’s fall over the last few months has not slowed the marketing efforts of its creator, and he may be about to benefit from a well-timed selfie with the Twitter reps.

Featured image courtesy of Shutterstock.

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