TRON-Based Inscriptions Market To Launch Soon
Recently, the TRON network made it into the news after reaching 95 million total addresses. As reported by NewsBTC, TRON significantly surpassed other Layer-1 networks in address growth, including Avalanche and Cardano.
This time, TRON is in the headlines after its founder, Justin Sun, shared some news for the ecosystem on X (formerly known as Twitter.)As it can be created using any type of data, like audio, video, and images, other chains started to launch their inscriptions.
TRX is trading at $0,1409 in the hourly chart. Source: TRXUSDT onHowever, the token’s trading volume of $367.3 million accounts for a 21.48% surge from the day prior, per CoinMarketCap data. As of this writing, further details about the launch are yet to be revealed. However, the community welcomed the news positively. Many expressed excitement to see what the TRON ecosystem could bring to the NFT market. Similarly, crypto exchange Binance recently its Inscription Marketplace, allowing users to create and trade inscription tokens within the Binance app.s
Justin Sun Behind BitTorrent (BTT)’s Price Surge?
After the announcement, Sun, who acquired BitTorrent back in 2018, quoted his post to ‘announce’ BTT-related news. BitTorrent is a file-sharing platform built on the TRON blockchain.
soon… — H.E. Justin Sun 孙宇晨 (@justinsuntron)The two words posted by the blockchain entrepreneur sent the token’s price up by 24%. BTT’s price was moving sideways the 24 hours before Sun’s post, as seen in the chart below. Just moments after the TRON founder’s comment, the price quickly went from $0.000001526 to $0.0000017. An hour later, BTT’s trading volume increased from $100.14 million to $151.6 million, a 51.4% increase in this timeframe.
BTT's price performance in the past 24 hours. Source: CoinMarketCapThe token reached $0.0000018 before the pullback to the $0.0000017 price range. At writing time, BTT’s price is $0.000001755, accounting for a 24.6% price increase from the day prior. The 7-day and 30-day performances display a notable price surge of 68% and 118%, respectively. The performance seen since the beginning of 2024 suggests a recovery from the past year when the token reached its all-time low of $0,0000003654. The token’s price has increased 153.6% in the 1-year time frame. Its market capitalization sits at an impressive $1.62 billion, making BTT the #64 largest cryptocurrency by this metric, according to CoinMarketCap.