TRON
$0.02436 1.04%
TRX · 1w

Tron (TRX) Jumps 12% as Justin Sun Announces Virtual Machine Launch

Tron on Monday appreciated 12 percent against the US Dollar to restest August high near $0.028.

The spike came hours after Justin Sun, CEO and Founder of the Tron Foundation, announced that their super representatives reached consensus to launch the Tron Committee Function and Tron Virtual Machine (TVM). TVM launch marks an important step towards the functionality of Tron network. It is expected to test and execute large-scale decentralized applications similar to that of Ethereum. The TVM launch also marks the introduction of its very own smart contracts, called Era.

TVM, according to Sun, will make the Tron blockchain 200 times faster than Ethereum, and 100 times cheaper than EOS.

Sun also appeared in a brief interview round with Investopedia, the leading financial news and education websites, in which he predicted that Tron would be among the top ten cryptocurrencies.

“If we look at the top 10 cryptocurrencies, many of them are not motivated to continue innovating or improving their product. They represent the older generation of cryptos. TRON, on the other hand, is a young company with cutting edge technology, with much more room for growth. We are confident that TRON will surge into top 10 in the next 6 months.” – he told Investopedia.

The latest upside action has pushed Tron closer to top 10 coins. The cryptocurrency now stands at the 11th position, according to the data available at CoinMarketCap.com.

A Stronger Month for TRX

Tron has regained its September’s high near $0.027 following the latest uptrend and is now in the process of adding more dollars to its market cap. The TRX/USD has already broken above the August high of 0.028-fiat by a small margin and owing to the fundamentals that are still fresh; the pair could see more long entries on higher highs.

Taking the last 30 days into account, which includes price performance of September, TRX/USD has already surged by 67 percent, making it one of the mo...

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