TRON (TRX) and EOS are Trading in the Red Despite Releasing Big News

Tron (TRX)

While the total cryptocurrency market is trading mostly in the red today, most of the top digital tokens are only seeing slight losses. For the past 30 days, the total cryptocurrency market has hovered around the $210 billion range. Today, we’re going to take a closer look at TRON (TRX) and EOS.


TRON is currently the 11th largest cryptocurrency by its total market cap and is sitting just under Monero (XMR). Two days ago, TRON’s Founder Justin Sun announced that Odyssey 3.1 would be launched at 8 PM SGT that day.

Launching Odyssey 3.1 meant TRON’s committee function and its Virtual Machine would also go live during this upgrade. Sun claims that after Odyssey 3.1, TRON will be 200 times faster than Ethereum and 100 times cheaper than EOS.

The TRON Virtual Machine will allow developers to test smart contracts before they transfer over to the TRON mainnet. On the 7th, TRX spiked nearly 17%.


At the time of writing, TRX is trading at $0.0254 a coin, down -3.89% in 24 hours. At its peak on Sunday, TRX was trading at $0.0280 a coin, meaning TRX is now down nearly -10% from its spiked price.

EOS is currently in the midst of getting together the final components of its EOS Hackathon. Last week, the company that founded EOS announced that its Grand Finale hackathon will be held in Cape Town, South Africa, on December 7th.

So far, the other four hackathons have been held in Hong Kong, Sydney, London, and San Francisco.

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Before the first event started in Hong Kong, held a virtual hackathon, and the winner was granted flight and hotel accommodations to attend the first event. It seems the company will hold another Virtual Hackathon.

This event will only be available to the EOS community within Africa and coding will begin on October 15th. Coding ends on October 18th at 9:00 Central Africa Time UTC+2:00.

According to CoinMarketCap, EOS is currently trading at $5.86 a coin, down -0.03% in 24 hours.

Will EOS and TRON (TRX) make a comeback after both pushing out positive news the past few days? We shall see!

Featured Image: Depositphotos/© leungchopan

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