Will Tron Tie-Up With Liquidity Provider Wintermute Boost TRX Price?

Tron (TRX) has recently disclosed a collaboration with Wintermute to boost Tron’s DeFi ecosystem and more so, to enhance network accessibility and liquidity.

  • The TRX’s price has risen by 0.43%
  • Tron experiences a $1.2 billion increase in popularity and market value
  • Wintermute Network Integration to Improve Liquidity and Accessibility

Tron does not need it as much, it is outpacing all its competitors. However, it needs to continue pumping and evolving in order to survive in crypto.

Overall, the partnership aims to make Wintermute as Tron’s official market maker to basically increase trading volumes and to link buyers and sellers.

Based on CoinMarketCapThe TRX has risen by 0.433%, trading at $0.06157 in press time.

Tron’s popularity has been booming, pumping up $1.2 billion in terms of value as seen since June despite others like Solana and Ethereum retreating significantly.

Tron and Wintermute Integration to Impact TRX price

Wintermute has announced previously to be a part of the Tron network’s DAO or Decentralized Autonomous Organization, enabling access to both redeem and mint USDD.

DAO recently increased the network’s crypto supply by over $200m to increase TRX. This was in response to Justin Sun, Tron CEO and Founder, deciding to invest as high as $2B to ensure USDD’s optimal efficiency.

According to some, the merger will have an impact on TRX’s value. TRX metrics have actually improved substantially in the 24 hours since the announcement of the Wintermute/Tron integration.

Tron’s recent actions have had a major impact on its network improvement and lifted investor sentiment.

The TRX price spike shows that investors and traders are pleased with the recent network developments and integration.

TX Seen with a Bullish Pullback

TRX started the week in a bullish trend, signifying general bearish sluggishness. The token did not reach the 50% RSI mark.

TRX was able to reverse its decline early this week. This also caused a retest the $0.065 support zone. Due to the change in investor sentiment, selling pressure at the price zone has declined.

There is the possibility that there will be a temporary uptrend but it cannot be guaranteed.

TRX was created in 2017. It is one of the first cryptocurrencies to use Ethereum as its base, and it then moved to its own network in 2017.

This is the oldest cryptocurrency to date. It has seen a significant improvement in stability. While it may be moving slowly, TRX seems to have more consistent and measured traction.

 Source: TradingView.com| Source: TradingView.com

Featured image taken from The Daily Hodl. Chart: TradingView.com

Get more Crypto News at CFX Magazine