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Tronix (TRX.X): why is the price going up?
Tronix jumped 25% over the last 24 hours. What's driving this spike?
The TRON (TRX) main net is being launched at the end of May. The launch of the TRON main net means that TRON will be eliminating its ERC20 identity and moving off of the Ethereum platform.
Crypto enthusiasts are wondering why the Tronix founder Justin Sun decided to drag Ethereum down. There was even a Twitter fight between Justin Sun and Etherium founder, Vitalik Buterin.
You should know that Tronix is an 8-month-old altcoin, while Etherium is now over 4 years old.
Tronix has introduced almost 3k nodes in under 2 weeks, which is fairly impressive.
The fact that TRX is already able to challenge and in many ways beat Etherium has some investors running from the hilltops screaming: "take my child’s milk money".
But a potential problem with Tronix is that it has too many day traders and a good number of bear hands.
Traders will be looking to make quick bucks from Tronix, so be careful about jumping in without having done your due diligence.
For further guidance on investing in cryptos, read the Finstead Bitcoin investment guide.