The adoption rate of cryptocurrency in Nigeria hits new highs and the price of Bitcoin has hit a more than 60% premium.
TRON has seen a surge in price with a 13% increase in day-on-day trading values.
Looking at the timing of the increase, we see that founder Justin Sun had just posted an update on the TRON Virtual Machine (TVM) which is about to launch:
Based on community consensus, #TRON will be upgrading to Odyssey 3.1 at 8pm SGT. The TRON Committee function & TVM will go live, marking the start of the Smart Contract Era. TRON will be 200x faster vs. ETH, 100x cheaper vs. EOS. dApp developers & users, this one is for you! $TRX
— Justin Sun (@justinsuntron) October 8, 2018
TVM will offer developers with features needed to create decentralized apps (DApps) as well as conduct smart contracts on the cryptocurrency s blockchain.
Looking back to when it was announced that TRON would be gaining ‘independence’ from Ethereum’s blockchain through the launch of its official mainnet in June of this year, TRX collapsed by 4.14% day-on-day, and was trading at $0.05 USD.
At the time, Sun posted to Medium saying:
“Today, I announce with confidence that development for TRON Mainnet, Odyssey 2.0 is complete and all materials have been submitted to Github. From this day forth, the TRON community will be able to download and run TRON’s official mainnet Odyssey 2.0 on the TRON Github page.”
With the latest update, however, prices have risen rather than dropped.
Sun has confidence that TRON will become one of the top ten tokens in the cryptocurrency market within the next six months. In an interview with Investopedia, he offered:
“Since I founded TRON in September 2017, the company has delivered a series of achievements, including the Mainnet launch in May 2018, network independence in June 2018, and the TRON Virtual Machine launch in August 2018. We are one of the fastest developing blockchain projects with a hard-working team that makes delivering results the status quo, which constitutes a large part of our success.”