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TRON price rallies after HECO merge

By Alara Jordan

15:15, 19 October 2022

Digital render of TRON token
The announcement of the HECO merge had a positive influence on the price of TRX, which is currently trading at around $0.062 – Photo: Shutterstock

The Huobi Eco Chain (HECO) will include the TRON and BitTorrent Chain ecosystems, TRON founder Justin Sun announced, after he was revealed as the latest addition to the advisory board of Huobi Global. 

Sun, who founded TRON in 2017, tweeted on 14 October that TRON will “deploy sufficient capital to encourage all Heco developers to build on TRON and BitTorrent Chain together” in a bid to combine the blockchains across one large cross-chain network. 

Price rally 

Sun’s announcement of the HECO merge boosted the price of TRX, which rose 5% from $0.061 tp $0.064 after the announcement, and was trading at $0.063 at 17:30 BST (+1 UTC) on 19 October. 

The rally also came after the news that the Caribbean island nation of Dominica will partner with the blockchain to promote Dominica’s blockchain technology and future infrastructure plans. TRON is one of the first blockchains to collaborate with a sovereign nation to promote its national blockchain infrastructure.


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3,500.61 Price
-0.730% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 6.00


0.13 Price
-1.850% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872


0.59 Price
-2.080% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168


66,950.35 Price
-0.690% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00

Sun owns ‘tens of millions’ Huobi tokens

In a recent interview with Bloomberg, Sun claimed that he owns “tens of millions” of Huobi Tokens as the founder takes up his new role as advisor for the exchange. 

“I would see myself as one of the biggest holders of Huobi Tokens in the world,“ Sun said, adding that he started accumulating the token back in 2013. 

Huobi Token (HT) also surged in price after 13 October, with HT rising from $6.51 on 13 October to a high of $8.04  on 17 October. At 17:30 BST (+1 UST) on 19 October it was sitting at $7.66, giving it a market capitalisation of just over $1bn, and making it 52nd in the table of cryptocurrencies measured by market cap.. 

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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