By On 1st November 2019, Tron’s CEO, Justin Sun, announced that the TRX project would be among the top four cryptocurrencies according to market capitalization. This announcement comes while Tron community members still waiting on the news on the new partnership worth a million dollars as well as future updates regarding the Tron ecosystem.
TRX currently holds position 11 in the crypto ranking. Justin’s announcement is quite bold since for TRX to be among the top four cryptos as per Justin’s statement, TRX would have to outperform other top cryptos such as Litecoin, Tether, Bitcoincash, and Stellar which are all ranking ahead of TRX.
The crypto community expressed their concern and doubts about whether Tron will manage to meet its goal by the end of the year, given that it’s already November. However, David Gokhshtein of the Forbes Finance Council stated that TRX would be one of the projects that would arise in the case of a bullish run.
Impacts of Sun’s Announcement
Justin’s announcement had a tremendous social impact. It is estimated that over ten million Chinese nationalists have been following Justin’s ideas on blockchain and crypto regulation in China.
There was also a spike in Tron’s network, there were 250 million Tether coins before the announcement, but after the announcement, the number went up to 450 million coins. The number of coins in circulation also rose to over 700 million TRS20-based Tether coins. Several accounts were also opened following the broadcast, causing the number of accounts to rise above 4million. The 4 million is, however, inclusive of the inactive accounts.
Tron’s Partnership with Samsung
Justin had kept the Tron community and the whole crypto community guessing on which brand Tron was partnering with. This is not a first; Sun has often kept the suspense in a bid to have Tron’s prices go higher. The news only came out after the official announcement that the partnership was with Samsung.
After the announcement was made, TRX prices went up, and the Tron community expanded concurrently. Reports state that the announcement to reveal the Samsung deal has given TRX a 30% boost.
In light of the partnership with Samsung, Tron’s blockchain would be integrated with Samsung Blockchain Keystore. This integration will give users direct access to the blockchain to users on their Samsung mobile devices as well as allow developers to build applications on Tron Network. Sun stated that the partnership was a great milestone for Tron. He also went on and expressed his excitement in working with Samsung and also expressed his hope for mere development.
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