All news

Will Tron Tie-Up With Liquidity Provider Wintermute Boost TRX Price?

Posted on by admin
cropped cropped cropped favicon 32x32 1
15
Sep

Tron (TRX) has recently disclosed a collaboration with Wintermute to boost Tron’s DeFi ecosystem and more so, to enhance network accessibility and liquidity.

  • TRX price up by 0.43%
  • Tron spikes in terms of popularity and value amounting to $1.2 billion
  • Network integration with Wintermute to improve liquidity, accessibility

Not that Tron needs it desperately as it has been outpacing its rivals but continuous pump and evolution is necessary to thrive in the crypto arena.

Overall, the partnership aims to make Wintermute as Tron’s official market maker to basically increase trading volumes and to link buyers and sellers.

According to CoinMarketCap, TRX price has surged by 0.43% or trading at $0.06157 as of press time.

Tron’s popularity has been booming, pumping up $1.2 billion in terms of value as seen since June despite others like Solana and Ethereum retreating significantly.

Tron, Wintermute Integration To Impact TRX Price

Wintermute has announced previously to be a part of the Tron network’s DAO or Decentralized Autonomous Organization, enabling access to both redeem and mint USDD.

DAO has also recently beefed up the network with over $200 million worth of crypto to boost TRX, in accordance to the decision of Justin Sun, CEO and Founder of Tron, to deploy as much as $2 billion ensuring the optimized efficiency of USDD.

The merger is said to impact the value of TRX. In fact, TRX metrics has improved significantly as in the past 24 hours following the announcement of the Wintermute and Tron integration.

These recent activities surrounding Tron highly impact the improvement of its network, lifting investor sentiment.

The recent spike to TRX price proves that traders and investors are happy about the integration and recent developments in the network.

TRX Seen With A Bullish Pullback

TRX was seen to start the week with a bullish pullback signifying overall bearish sluggishness as the token failed to barrel past the 50% RSI mark.

TRX was seen to retrace early this week which also triggered a retest of the key support zone at $0.065. Further, selling pressure has dwindled down at the set price zone due the flip in investor sentiment.

While there is a possibility of a short-term uptrend, this will not be guaranteed.

TRX, created in 2017 is dubbed to be one of the pioneering cryptocurrencies that is based originally in the Ethereum network and then shifted to its own network the following year.

Being one of the oldest cryptocurrencies to date, it has greatly improved in terms of stability and while it is moving a little slow, TRX is taking more calculated and steady traction.

mvbafau6

TRX total market cap at $5.6 billion on the one-day chart | Source: TradingView.com

Featured image from The Daily Hodl, Chart: TradingView.com
admin