Tron has seen a low of $0.05331 and a high of $0.06595 in the last 24 hours.

Tron is a network focused on maximising the amount of transactions a blockchain network can compute at once. Bitcoin can handle six per second, whereas Tron can process up to 2,000 transactions per second.

The price of the coin has risen slightly by around 16%. This is as trading volume has remained largely unchanged.

The Tron project is led by Justin Sun, who founded the project in 2017.

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Why are people buying Tron?

In a tweet from last week, Tron’s CEO and founder, Justin Sun, tweeted out some bullish news for Tron.

Sun’s tweet revealed that Tron users have now exceeded 40 million – making it the world’s fastest growing public chain.

As more users rush in to prove the use cases of Tron, there will likely be an increase in the price of the project.

Tron now finds itself in a unique position of being a widely popular Chinese cryptocurrency from a country that has just launched a crackdown on cryptocurrency activity.

Time will tell if this also has an impact on the growth of the project.

This post was originally published on Coinjournal.