The past couple of days were characterized by the explosive growth of Chinese cryptocurrencies. TRX saw a +50% price increase, and the exchange rate of NEO doubled. What might be the reason behind this sudden increase?
#TRON will partner with a hundred billion USD megacorporation next week. It will not only benefit $TRX but all TRC10&20 tokens including $BTT & $WIN etc. It will broadly distribute #TRON Dapps and tokens to billions of customers. TBA. Make a guess?
— Justin Sun (@justinsuntron) October 25, 2019
The objective of the NEO project is to develop the digital economy through the widespread adoption of cryptocurrencies. But the growth of this token’s price might be linked to a recent announcement from Xi Jinping, the President of the People’s Republic of China. He described blockchain as an ‘important breakthrough for independent innovation of core technologies’ and shared plans to develop the industry.
It’s no wonder that investors started eagerly purchasing Chinese cryptocurrencies following this announcement. But there is another reason for the growth of TRX. Project founder Justin Sun recently announced an upcoming partnership with a certain major corporation with a market capitalization above $100 billion. According to Sun, this partnership will bring a lot of value to the project and mark the beginning of a new era.