TRON Has an Applicability Score of 24.3 per the Latest Publication of CCIDMay 28, 2019
Tron [TRX] touched upon the 10th place in the ranking charts. The market capitalization stood at $2.36 billion. Over the past 24 hours, it went up by 12.16 percent in comparison with the US Dollar. Tron [TRX] performed a lot better over the whole of the week, and it went up by 24.42% in the past seven days.
Earlier in 2019, the price of TRON plummeted due to the rapid improvement of Cardano. However, in the recent market surge, Tron re-entered the top 10 rankings. Majority of the community was doubtful about the long-term prospects of TRON before the current surge. TRON has been reported to be the highest gaining cryptocurrency over the past 24 hours.
Justin Sun, CEO of Tron Foundation, did previously claim that Tron [TRX] will be back in the top 10 cryptocurrency rankings at the beginning of June; however, this has happened a lot before June.
He recently tweeted: “something amazing is going about TRON.”
A major announcement about TRON [TRX] and BitTorrent [BTT] was long awaited. Justin Sun broke the ice regarding the matter, and he stated that he would declare the details to the community on June 01, 2019. He also proclaimed that BTT would be listed on KuCoin exchange beginning June 2019.
Tron [TRX] is valued at $0.0356. At $1.6 billion, the trade volume of TRX has been progressing positively.
The short-term trading outlook for TRON is bullish. This is in response to some revelations about the future activity of TRON by the CEO.
An inverted heads and shoulders pattern is seen in the 4-hour chart. The current time frame shows that the TRX/USD pair will be able to trade higher during the medium term.
Technical indicators on the daily charts are pointing to an upside for TRON. There is a robust medium-term buying demand seen for the coin. The current boom of TRON is up by 16%, and more is expected to happen in the future.
The China’s Center for Information and Industry Development (CCID) functioning under Xi-Jinping led the Ministry of Industry and Information Technology, recently released their updated publication of the Global Public Blockchain Technology Assessment Index. About 35 crypto projects were ranked based on factors like applicability, creativity, and basic technology.
Ethereum has been ranked third in their list. Shockingly, Bitcoin was not even featured in the top 10 list of CCID. The underlying technology score of TRON was at 95.6. The token had an applicability score of 24.3.