The native cryptocurrency of the Tron blockchain, Tron (TRX), rose 10% on 7 June thanks to the launch of the BitTorrent Bridge platform. The platform allows seamless transfer of TRX between Tron and Ethereum and reinforces collaboration between BitTorrent and Tron. This has the potential to increase adoption of TRX among Ethereum users. Tron’s price is currently trading at $0.0805 and is expected to remain above the moving averages. If it breaches the $0.085 resistance level, this could trigger a bullish trend leading to price gains. A downward correction could see prices slump to support levels of $0.075, $0.070 and $0.065.
This article originally appeared on www.newsbtc.com
The cryptocurrency Tron (TRX) has seen a surge in price by 10% following the launch of its Bittorrent bridge. The price surge is seen as an indication that the market has confidence in Tron’s ability to leverage the file-sharing platform to advance its goal of becoming a leading blockchain ecosystem.
In its bid to create a better blockchain experience, Tron’s Bittorrent bridge aims to allow for an easy transfer of assets between two blockchain networks. This has attracted investors and traders who see the Bittorrent bridge as a game-changer in the blockchain industry, as it provides functionality that other blockchain networks have been struggling to offer.
Tron’s CEO, Justin Sun, has been bullish on the prospects of the Bittorrent bridge, insisting that it will open up new opportunities for the development of decentralized applications. He has also said that the bridge will introduce millions of users to the world of cryptocurrency, which will propel the growth of the industry on a new level.
The successful launch of the Bittorrent bridge has boosted Tron’s reputation as a progressive and innovative blockchain platform. It is also a signal to the larger cryptocurrency industry that Tron is a serious player in the space. Tron’s mission is to create a decentralized internet, and the Bittorrent bridge is one of the tools it is using to achieve this goal.
Despite the positive news, investors should note that the cryptocurrency market is volatile, and they need to exercise caution when investing. Cryptocurrencies are still in the experimental stage, and regulations are still catching up with the rapid development of the technology.
In conclusion, Tron’s Bittorrent bridge is a groundbreaking development in the blockchain industry, and it is heartening to see that the market has recognized this. However, the industry is still in its early stages, and while there is enormous potential, investors should be cautious and conduct thorough research before investing in any cryptocurrency.