Tron’s trend is going up and has stoped going down, and is now into its third year of existence, but it really started gaining traction in 2019 with a number of interesting occurrences influencing its price. The project is looking to make a big impact across the content space and as such, it is looking to impact the traditional space, asd well as move the emerging one.
One of the biggest announcements it made was the acquisition of popular torrenting site, BitTorrent. This acquisition saw TRON take a big lead in the company’s future plans. This acquisition took place in 2018, but it really put TRON on the map as a real player and helped grow the Tron future.
The price of TRX also reacted to this major tech acquisition, but as is a common theme with TRON it appears, the rumour of good news around the project has a bigger impact on the price of TRX. a few months before the acquisition became official, but during the rumours, the price of TRX reached its second-highest point, just less than it’s all time high at the beginning of 2018. The highest TRX has ever been was $0.17 but the news of the BitTorrent acquisition sent it up to $0.09 having dropped to $0.03 previously.
Other impacts that have often moved the price of TRON have mainly featured around good partnerships, or good businesses moves to expand TRON’s reach, but they have also heavily focused around the PR that comes from Justin Sun.
The enigmatic head of the company has been known to hype up announcements and many traders keep an eye on his Twitter about big TRON news that is coming to the company and this is usually enough to send the price of TRX climbing on a rumour alone.
A good example of this came when Sun, looking for additional publizity for himself and TRON from the cryptocurrency community, paid millions of dollars to Warren Buffet’s charity to have lunch with the famous hedge fund manager to try and turn him onto crypto.
This news again sent the price of TRX up as Sun and TRON looked to have a bigger impact in the overall crypto space, but also looked to make their name known on the traditional scene. This lunch had its own controversies, but because TRON has such a vibrant following, it was still mostly accepted and agreed with as the lunch was postponed, and then eventually happened.
But, one of the bigger partnerships that TRON has made in 2019 must be the link they have made with Samsung and its blockchain KeyStore. Again, Sun made hints on his Twitter that TRON had made another partnership, with a multimillion dollar company and the excitement grew and TRX price grew with it. When it was announced that TRON was accepted on Samsung’s blockchain KeyStore, it further legitimized TRON in the crypto space, as well as the mainstream nascent adoption of blockchain.
TRX has benefitted well from all of these partnerships, and it has become clear that the biggest influence on the price of the token comes from good news surrounding what the company is doing to fulfill its lofty goals, and these announcements are made all the more exciting through Justin Sun.