The TRON (TRX) digital asset is increasing its representation, through a newly added Bittrex pairing with USDT. This is yet another example of the trend where the crop of booming coins from the end of 2017 is spreading on exchanges. Recently, Cardano (ADA) was paired with USDT on Binance.
It is strange that with the USDT markets already open, the asset is not moving. TRX is up about 34% this week, but the past day has seen the price stagnate again.
— Bittrex (@BittrexExchange) April 23, 2018
Bittrex, which promised to reopen for US-based traders, sees only around 2.7% of total trading volumes for TRX. Until now, Binance held most TRX trades, and was the go-to exchange for US-based investors. The TRX price rise is, for now, gradual, and the effect of Bittrex has not been dramatic. TRX is still preferred on Asian exchanges, and holds a specific risk profile related to speculation in Korea.
Some believe TRX is just in time for a breakout, as trading volumes are becoming more consistent. The project is in the final stretch ahead of the May 31 mainnet launch. The communication from the project’s founder, Justin Sun, is quite active:
— Justin Sun (@justinsuntron) April 23, 2018
The coming months will show the strength of the TRON community, and will be a real-world case of having a governance system of elected delegates. But beyond that, the TRON project still awaits its apps and real-world applications.
Recently, the TRON project announced it is opening an office in Taiwan, after talking to local regulators. TRON will also participate in a Taiwan-based self-regulatory blockchain organization.
But the activity and attempts at marketing for TRON are still met with criticism. Recently, Vitalik Buterin was not shy about calling TRON a scam, for not having a working product. It remains to be seen if moving TRON to a new blockchain makes the ecosystem meaningful, similar to NEO, QTUM, or Stellar (XLM).