TRX, Tron’s proprietary crypto, has rallied by over 12% following the release of BitTorrent Token’s whitepaper.
Since BitTorrent Token’s whitepaper release, TRX has seen a significant price uptick as it spikes from $0.0236 (590 sats) to an intraday high of $0.0266 (662 sats). Likewise, TRX’s daily trading volume has also increased two-folds, bringing it up to $300 million, of which Binance accounted for 23% of its total trading volume.
Similarly, TRX has also seen a massive price surge last week, as it escalates to over 35%, with its trading volume exponentially multiplying by 340%. In the last three weeks, TRX has managed to double its 2018 low of $0.0126 (395 sats) in mid-December, as it continuously surpasses most of the other digital assets, climbing its way to the top 10, at press time.
Due to its notable performance in the crypto market, Tron has been widely regarded as one of the top four digital assets alongside XRP, Ethereum, and the lesser known Apollo, Forbes indicated. As Justin Sun underscored, the primary objective of Project Atlas is to “distribute tokens to users in Q1 of 2019,” emphasizing that:
“This will be the biggest platform for blockchain with over a hundred million users. The first step in building Project Atlas was to make BitTorrent Speed, which was built in less than 6 months.”
With the recent release of BitTorrent Token’s whitepaper, Tron’s blockchain network is expected to vastly benefit from BitTorrent’s massive user base which, as it now stands, has reached over 100 million active users.
While the move to tokenize bandwidth is by no means unique, the initiative is an ambitious undertaking as it could potentially pave the way to revolutionizing the internet, should the project succeed.
As explained in the whitepaper:
“By integrating BTT tokens and transaction processing we will both address existing limitations of BitTorrent and open up a whole new borderless economy exchanging value for compute resources on a global scale. This will be a realization and extension of the vision expressed by Satoshi Nakamoto in the original Bitcoin white paper on its tenth anniversary,” the paper concluded.
While Tron has long been largely criticized on social media, it has undeniably one of the best marketing strategies in the industry, with multiple Twitter feeds consistently updated with pertinent news, including announcements and partnerships. As it out-markets its rival cryptos, TRX continues to climb up the charts, securing the eighth spot among the top digital currencies by market cap.