Tron (TRX) climbs 11 percent amid general market recovery

The crypto markets appear to be enjoying a small yet significant recovery following a rough week. Today, most of the top-20 cryptocurrencies by market cap are in the green, with Tron’s TRX token seeing the biggest gain.

Bitcoin, meanwhile, is currently back up to above $8,200, according to data from Messari. The cryptocurrency is exhibiting a strong willingness to right itself after falling below the $8,000 mark once again during the day’s early morning hours.

Ethereum is now up by more than 6 percent over the last 24 hours and trading at around the $178 per token mark, while XRP is back up to 25 cents per coin—a spike of roughly two cents over the past few days.

Tron, however, saw the biggest gain today—a price hike of roughly 11 percent, according to Messari, when it rose to nearly $0.015 per token. The coin has since corrected to around $0.0144, which is still a gain of 8 percent from where it started the day.

It’s possible that TRX traders could have been encouraged by the news of Tron’s latest alliance with Binance. The world’s largest crypto exchange by volume announced earlier today that it would be adding staking support for TRX.

Snapshots of customers’ present TRX balances will start being recorded on Tuesday, October 1. Users are set to receive staking rewards after this, though customers must hold a minimum of 5 TRX to qualify for any such rewards. They are set to be calculated through the first of November; funds will then be distributed soon after to applicable customers.

Rewards will be compounded daily and issued during the first 10 days of every following month. Thus, users can expect regular payouts so long as they hold TRX.