TRON surges due to smart contract and open source release

TRON token rose 760% within 7 days following the news of partnership with Gifto and news of smart contract and source code Exodus which are to be released
18 December 2017   6537

TRON token is the currency of TRON block-based open source global digital entertainment protocol for digital entertainment. Past week was overwhelmingly successful for the token as TRON has shown the outstanding 760% price rise and for the first time has moved to the 2nd place in the list of tokens ranked by market capitalization.

coinmarketcap list of top tokensList of top tokens ranked by market capitalization

The price of the token increased from $0,007 on December 13 to $0,045 on December 18 while the market capitalization rose from $477 million to $3 billion just within 5 days, thereby moving the token to the second position in the top.

Tron charts december 2017TRON Charts

Such price rally of the token started after the news about TRON partnership with Gifto virtual-gifting platform, which was announced on December 14, in aim to leverage the technology behind TRON to allow for effective transaction facilitation.

At the moment of press, these are main market parameters of TRON:

  • Average price: $0,041
  • Marketcap: $2 719 963 274
  • 24h volume: $338 654 000

OKEx Ex-CEO to Intend to Raise $40M

Funds are needed for the new exchange called ACDX, which will offer  futures, options, revocable bear/bullish contracts and more
06 February 2020   553

Andy Cheung, who until recently was the operating director of the OKEx cryptocurrency exchange, will open a new derivative trading platform ACDX by the end of the first quarter, CoinDesk reports. The exchange will offer its clients futures, options, revocable bear / bullish contracts, debt contracts and fixed coupon notes.

One of our main goals for the exchange is to provide retail investors with ... structured products that are more commonly used by accredited crypto investors and wealth managers.

 

Andy Cheung

Former chief operating officer at OKEx

In the future, ACDX plans to reach a global level, but first of all it will gather a client base in Asia, using the connections of Cheung and partners in Hong Kong and China. In preparation for the launch, she intends to raise $ 40 million through the sale of tokens and shares in her business to crypto funds, private investment firms and family capital management companies in Europe and Asia. 

We have over $4 million so far and most of the money comes from our own funds. We are in talks with potential investors and likely to announce new investments in the next two months.

 

Andy Cheung

Former chief operating officer at OKEx

To date, ACDX has hired more than 25 employees, including eight developers who are preparing the trading platform for launch.