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TRON price bound for 40% gains after getting listed on Binance.us and launching NFT marketplace

  • TRON price has bounced back from the slump, posting 9% gains overnight with the launch of the ApeNFT marketplace on March 31, 2022.
  • The world's largest exchange Binance.us has listed TRON; deposits in the altcoin are now live.
  • There is a massive uptrend in on-chain activity on the Tron network, with 83 million users and 3 billion total transactions.
TRON price bound for 40% gains after getting listed on Binance.us and launching NFT marketplace
Ekta MouryaEkta MouryaFXStreet

Binance.us listed TRON on its exchange platform, fueling demand for TRON among users. Proponents believe the launch of the NFT marketplace is key to TRON's adoption and could trigger a rally in the altcoin. 

TRON price on track for 40% gains 

TRON price has started an uptrend, offering users 9% gains overnight. The altcoin's price rally is helping retrace the losses since the beginning of 2022. Two key updates in the TRON ecosystem have fueled a bullish outlook among holders. 

A subsidiary of the world's largest crypto exchange, Binance, announced TRON's listing and revealed that deposits for the altcoin are now live on its platform. The arrival of TRX on Binance.us offers higher exposure and is likely to increase the adoption of the altcoin. Historically, assets listed on the crypto exchange witness a spike in demand and a corresponding price gain.

Alongside the exchange listing, TRON has powered the ApeNFT marketplace to offer users exposure to the metaverse and a platform for their digital collectibles and assets. ApeNFT has plans to reward TRX holders and users with benefits in its marketplace. 

After the testnet phase is complete, ApeNFT and TRON would co-host a virtual launch event where Justin Sun would introduce bonuses offered by the marketplace. Projects in the metaverse have applauded the launch of the ApeNFT marketplace, powered by TRON. The first metaverse-themed livestream in the altcoin's ecosystem goes live with Justin Sun's debut in the virtual world. 

Analysts have evaluated the TRON price trend and predicted a rally in the altcoin. Analysts at CFDTrading observed that the moving averages on the hourly chart are bullish and in positive alignment. This indicates the TRON price uptrend could remain steady. 

A crypto analyst at ‘The Birb Nest’ predicted a 40% uptick in TRON price in mid April 2022. The analyst is waiting for a retest of $0.07 on the altcoin’s price chart. 

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

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