TRON price (TRX/USD) edges lower in early Thursday trading

The TRON price (TRX/USD) has edged lower on Thursday despite recent news that a major provider of institutional-grade solutions for crypto investors will be adding support for TRX.

The ninth-largest digital currency on the market experienced a strong uptick in yesterday’s early trading, with its price rising to an intraday high of $0.0254 from its opening level of $0.0249. However, the coin lost much of that early momentum in subsequent trading and eventually finished the session at $0.0252.

TRX made an attempt to resume its rally in today’s morning session, but the coin’s advance was cut short as its price suddenly dropped below the $0.025 mark, to an intraday low of $0.0246. At the time of writing, the TRON price hadn’t recovered from that drop.

In other TRON-related news, industry website Cointelegraph yesterday reported that BitGo, a US-based provider of institutional-grade cryptocurrency investment services, was planning to add support for TRX later this year.

Citing a February 20 press release, the online publication said that BitGo would provide wallet and custody support for cryptocurrency. The company already supports more than 100 digital currencies.

BitGo describes itself as “the world’s largest processor of on-chain Bitcoin transactions, processing 15% of all global Bitcoin transactions, and $15 billion per month across all cryptocurrencies,” and have a customer base that includes the world’s largest digital currency exchanges. It also has the backing of Craft Ventures, DRW, Galaxy Digital Ventures, Goldman Sachs, Redpoint Ventures, and Valor Equity Partners.  

In today’s trading, the TRON price stood at $0.0247, as of 14:36 GMT. The digital coin has lost 1.3% of its value in the past 24 hours, according to data from digital currency tracker Coinmarketcap. The coin’s total market capitalisation currently stands at $1.65 billion. Over the past 24 hours around $142 million worth of TRX tokens have changed hands.