TRON Blockchain’s Remarkable Growth and Huobi Exchange’s Surprising Rebrand Sep 16, 2023 Sep 16, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsSeptember 16, 2023 by Kelly Cromley

TRON Blockchain’s Remarkable Growth and Huobi Exchange’s Surprising Rebrand

In a noteworthy development within the cryptocurrency space, the TRON blockchain, founded by Justin Sun, has witnessed substantial growth, boasting an average of more than 4.8 million daily transactions. Simultaneously, the Huobi cryptocurrency exchange, under the leadership of Justin Sun, has unveiled a surprising rebranding effort, reemerging as HTX to commemorate its tenth anniversary. This unexpected shift in nomenclature has garnered attention, with observers drawing parallels between the new name and the now-defunct FTX exchange.

 

TRON Blockchain Experiences Remarkable Transaction Growth

The TRON blockchain, conceived by Justin Sun and launched six years ago, has been making significant strides in recent times. Recent data analysis conducted by Nansen reveals that the blockchain has demonstrated the capacity to facilitate over 4.8 million transactions daily. This impressive statistic underscores the burgeoning demand for the TRX cryptocurrency, which operates on the TRON network.

Huobi Exchange Embraces a New Identity as HTX

In a surprising twist, Huobi cryptocurrency exchange, a venture led by Justin Sun, has made a momentous decision to rebrand itself as HTX. This announcement, which surfaced on September 13, is accompanied by corresponding updates on the exchange’s social media platforms to reflect the altered identity.

Parallels Drawn Between HTX and the Defunct FTX Exchange

Interestingly, some members of the cryptocurrency community have been quick to notice the striking similarity between Huobi’s new moniker, HTX, and the now-defunct FTX exchange. The uncanny resemblance between the two names has prompted discussions and speculations within the crypto sphere.

TRX Cryptocurrency Records a Slight Price Uptick

Turning to the performance of the TRX cryptocurrency, it has experienced a modest 1.16% increase in value over the past 24 hours. Currently, TRX is trading at $0.084, reflecting a reasonably positive sentiment in the market. The cryptocurrency has also displayed robust trading activity, with a total trading volume of $196.47 million within the preceding 24-hour period.

Anticipation of Further Gains in TRX’s Value

Market analysts are closely monitoring the TRX price dynamics, with a particular focus on its ability to sustain a value above $0.082. Should TRX manage to maintain this threshold, further gains in its market value are anticipated. However, should the price drop below this crucial level, it may trigger a descent to the $0.080 mark.

In Conclusion

The TRON blockchain, conceived by Justin Sun, has achieved remarkable growth, consistently handling over 4.8 million daily transactions. This reflects the growing demand for the TRX cryptocurrency, which operates within the TRON ecosystem. In a surprising move, the Huobi cryptocurrency exchange, led by Justin Sun, has rebranded itself as HTX on the occasion of its tenth anniversary, raising eyebrows within the cryptocurrency community due to the perceived resemblance to the now-defunct FTX exchange.

Furthermore, the TRX cryptocurrency has demonstrated a slight uptick in value, currently trading at $0.084, with a substantial trading volume of $196.47 million over the past 24 hours. The market’s attention is now fixated on whether TRX can maintain a price above the critical threshold of $0.082, with the possibility of further value appreciation. Conversely, a dip below this level may lead to a decline to $0.080. These developments underscore the dynamic and evolving nature of the cryptocurrency landscape, where growth and transformation are constants.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.