Justin Sun: Tron’s Daily New Accounts Have Increased by 20x Since May

John P. Njui   •   TRON (TRX) NEWS   •   OCTOBER 24, 2020

Quick take:

• Justin Sun has pointed out that the number of daily new accounts on TRON has increased by a factor of 20 since May this year
• The Tron ecosystem has been growing with BitTorrent recently acquiring the streaming platform of DLive.tv
• Tron is once again above the $0.026 price zone and could be on a path to retest $0.030

Tron’s founder and CEO, Justin Sun, has highlighted the impressive growth of daily new TRX accounts on the Tron network. According to Mr. Sun, the number of new TRX accounts observed per day has increased from an average of 7,000 in May to the current level of 140,000 per day. The latter daily new accounts are 20 times higher than those observed in May. Mr. Sun shared this observation via the following tweet.

The Tron Ecosystem Continues to Grow as BitTorrent Acquires DLive.tv

Also this week, Justin Sun notified the crypto community of BitTorrent’s acquisition of the popular streaming service of DLive.tv. According to Mr. Sun, DLive and BitTorrent will be integrated into one ecosystem named BitTorrent X that shall be powered by the BTT token.

BitTorrent today announced the acquisition of live streaming platform, @OfficialDLive and plans to migrate all BitTorrent related services to one unified ecosystem named BitTorrent X powered by #BTT.
BitTorrent X represents the transformation of BitTorrent, a world-renowned peer-to-peer service from a software company into a conglomerate of decentralized storage and data protocols and content distribution platforms.

Tron (TRX) has Regained $0.026 and Looks Set to Retest $0.03

In terms of market performance, Tron has been attempting to break $0.026 from the day Coinbase Custody announced it was exploring the possibility of supporting TRX and 5 Tron based tokens. The $0.026 resistance level turned into a support zone courtesy of this week’s news of PayPal beginning to offer crypto services to its users.

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Further checking the daily TRX/USDT chart, it can be observed that there was an impressive wick on 20th October to the $0.029 price area. This quick move up indicates that this is Tron’s next major resistance zone as it attempts to break $0.03. Additionally, the 50-day moving average is also providing an area of resistance around the $0.0275 price area.

Summing up the brief technical analysis of Tron, TRX could very much be headed for a retest of $0.030 if the current crypto market environment of bullishness spills over into the new week. However, if the market is stagnant or suddenly turns bearish due to the elections, Tron has substantial support at $0.026 and $0.025.

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Original article posted on the EthereumWorldNews.com site, by John P. Njui.

Article re-posted on Markethive by Jeffrey Sloe