Tron Signs A New Deal With Cred, Will This Boost the Price of TRX?

Tron is actually drawing closer to mainstream adoption, and this is one of the best times to invest in the digital currency. The current price of Tron (TRX) does not really tally to with what digital asset investors and traders are expecting. But many experts believe that the bullish Tron news today and developments around the coin will significantly boost the price of Tron (TRX) in the near future. Tron price prediction for this year is also very bullish, and it has attracted many investors to the coin. TRX USD live price has also performed very well this year. The blockchain project has attained a great level of success and the price of Tron has recorded a significant level of growth also.

Tron Foundation Partners with Cred – Will this Partnership Further Boost the Price of Tron (TRX)

Tron has secured a lot of partnerships over the past years. More partnerships lead to more adoption, and this has helped to boost the value of the coin. Recently, the Tron Foundation just confirmed another partnership. Tron just partnered with Cred – a digital currency lending platform. The collaboration between Tron and Cred will allow Tron (TRX) holders with the digital currency lending platform earn up to 10 percent annual interest. A snippet of the announcement states:

“Cred, with more than $300 million in lending capital, will also offer digital currency backed loans to the community of Tron to support the development and growth of the Tron ecosystem. To celebrate, the cryptocurrency lending platform is now offering TRX holders with $25k or more up to 10 percent annual return at mycred.io/Tron.”

This partnership was announced on the 8th of May, a day after Binance suffered a great loss. On the 7th of May, Binance was attacked, and the attackers made away with more than 7000 Bitcoins worth over $40 million. This greatly affected the crypto market, and most digital currencies were deep in the red after this incident. However, the price of Tron didn’t react to the news then, as it was one of the few digital currencies that was trading in the green. Nevertheless, the digital currency is currently in the red after failing to break a major resistance level.

Tron Price Analysis – Tron Price Prediction – Tron News Today – Tron Price Forecast – TRX USD Price

The price variation of Tron this year is a bit impressive, but it has been growing with minor instances. However, it recorded a significant level of growth in April, when Tron price surged by more than 33 percent in less than a week. At the moment, the TRX USD price is supported at the $0.0220 level. The next support after that level is $0.0200 level.

On the upside, the immediate hurdle of the digital currency is at the $0.0280 level. However, the major resistance on the upside is the $0.03 mark. A break over this level is needed for Tron (TRX) to amass more gains and test new highs.

TRON (TRX) Price Today – TRX / USD

NamePrice
bitcoin
Bitcoin
$9,926.65-0.70%
tron
TRON
$0.017-5.91%

At the press time, the TRX USD live price is $0.0247 after a decrease of about two percent over the past twenty-four hours. The current market cap of the digital currency is $1.58 billion. The trading volume of the digital currency over the past twenty-four hours is $562.63 million.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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