Tron rebounds as the Crypto market start to recover

Tron rebounds as the Crypto market start to recover

The price of Tron (TRX) is up 2.1% today, as the blockchain gaming platform continues to recover from its 2019 low of $0.0124 on September 25. One TRX is now worth $0.0143. Currently, the Tron is leading the crypto market for the top ten coins by market cap, with Monero's (XMR) 1.5% rise placing it a close second. "Tron rebounds as the Crypto market start to recover"

Tron rebounds as the Crypto market start to recover

Tron TRX has fared well over the last week, up 8%, as it continues to rebound from its sudden drop on September 24 as the entire crypto market crashed.

However, Tron trx long term, the picture isn't quite as rosy. Since Tron hit its yearly high of $0.0385 on June 26, it has dropped an astonishing 68% in a little over 3 months. While that's not as big a drop as Algorand (ALGO), which fell by 93%, it's still disappointing news for TRX holders.

Even worst, John McAfee antivirus software developer is kicking them while they're down. The John McAfee antivirus software developer and Cryptocurrency evangelist took to the Twitter post to needle Tron CEO Justin Sun for "announcing the announcement"—or building up hype and speculation before revealing a piece of underwhelming news.

But there is a glimmer of hope that Tron TRX only needs a 5% jump to recapture its $1 billion market cap.

It’s possible that TRX traders could have been encouraged by the news of Tron’s latest alliance with Binance. The world’s largest crypto exchange by volume announced earlier today that it would be adding staking support for TRX.

Snapshots of customers’ present TRX balances will start being recorded on Tuesday, October 1. Users are set to receive staking rewards after this, though customers must hold a minimum of 5 TRX to qualify for any such rewards. They are set to be calculated through the first of November; funds will then be distributed soon after to applicable customers.

Rewards will be compounded daily and issued during the first 10 days of every following month. Thus, users can expect regular payouts so long as they hold TRX.

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