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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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    DOGE/USD

    0.45 Price
    +10.020% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 0.0012872

    BTC/USD

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    -0.920% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 106.00

    ETH/USD

    3,451.23 Price
    +3.800% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 6.00

    XRP/USD

    1.50 Price
    +2.990% 1D Chg, %
    Long position overnight fee -0.0616%
    Short position overnight fee 0.0137%
    Overnight fee time 22:00 (UTC)
    Spread 0.01168

    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.. 

    Related topics

    #Tron #Cryptocurrency

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