With 12755% growth in a month, newly introduced TRON is ready to challenge the market leaders of cryptocurrency industry – Bitcoin and Ripple. Two months back, hardly anyone knew about this crypto player with Bitcoin making all the headlines. Two months ago, TRON (TRX) was sitting at $0.00215. Its market capitalization has grown six-fold from $2.8 billion to $18.7 billion in a span of 2 months.
TRON's price was $0.00215 on December 5th; it has climbed to $0.276378 at the time of writing. The staggering 12755% gains has placed the alt coin in the category of Litecoin, Ethereum, and Ripple, the other digital currencies registering similar gains. The six-fold growth in the market capitalization has made the four-month old alt coin the sixth most valuable cryptocurrency.
Justin Sun, the founder and CEO of largest voice live streaming app in China, is the man behind TRON. TRON's Initial Coin Offering (ICO) went through a rough start during China's crackdown on cryptocurrencies.
TRON is a blockchain-based decentralized protocol. It aims at building a free content entertainment system with worldwide accessibility. A fresh-on-the-big-league virtual currency allows each user for freely publish, store, and distribute content. It doesn’t prompt the content providers to pay high channel fees to centralized platforms like Apple's AppA Store or Google Play.