Tron Foundation reveals secret project, Atlas in the wake of TVM launch: TRX/USD testing July lows
|- Project Atlas, according to “will allow TRON to surpass Ethereum on daily transactions and become the most influential public blockchain in the world.”
- Tron price is still walloping in selling pressure. Besides, it is currently testing July lows at $0.0311 after breaking below June Lows at $0.033.
For some time now, Tron Foundation and the founder of Tron, Justin Sun have been teasing the community with a project that came to be known as the “Tron secret project.” However, during the launch of Tron Virtual Machine (TVM) on July 31, Justin Sun promised to reveal the identity of the project and also shade some light on it. Consequently, Sun announced on Twitter today that the secret project is called Atlas.
Project Atlas, according to Sun “will allow TRON to surpass Ethereum on daily transactions and become the most influential public blockchain in the world.”
The project is being developed to integrate Tron platform and the recently acquired BitTorrent. The Tron management is currently involved in the development of the Project Atlas to ensure that all the first computing, as well as the updated blueprint, are accomplished in the first 3 months before the announcement is made. More details on the working of the project and even the official launch date are going to be released before the end of this month.
Project Atlas will be very instrumental in the future of BitTorrent. For instance, it will be used to make BitTorrent feature of being a free peer-to-peer service platform event better. In addition to that, Tron intends to introduce rewards for users using the platform to seed torrents that contribute towards the growth of the torrenting ecology.
Tron price analysis
Tron price is still walloping in selling pressure. Besides, it is currently testing July lows at $0.0311 after breaking below June Lows at $0.033. The descending trendline is currently limiting upward movement at $0.0320. It is important that buyers put their best foot forward to avoid a drop below the lows of July. Otherwise, TRX/USD is on the verge of another break down to the area at $0.030.
The trend I strongly bearish, similarly, both the stochastic and the Relative Strength (RSI) is almost into the oversold region to show that the sellers are in control. A support above $0.31 will be in favor of the buyers. A trend reversal will, however, be limited at $0.032 (trendline resistance) and the key resistance at $0.333. But trading above $0.034 could see a spike towards $0.036 in the medium-term.
TRX/USD hourly chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.