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Bitwise Invest 20 constitutes of 15.37% in Tron [TRX]

Priya

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Bitwise Invest 20 constitutes of 15.37% in Tron [TRX]
Source: Unsplash

Bitwise Asset Management, the firm which launched the very first cryptocurrency index fund, updated their Bitwise 20 mid cap crypto index on December 10, 2018. The firm is also well-known in the space for its partnership with Morgan Creek Digital Assets.

The firm is in the spotlight because of the assets in the Bitwise Invest 20, which consists of 20 leading cryptocurrencies in the market. According to the latest updated, the Bitwise Invest 20 constitutes of 15.37% in Tron, the tenth biggest cryptocurrency by market cap, making it the biggest among all. The other top portions are divided as – 11.58% in NEM, 11.45% in IOTA, 9.66% in Ethereum Classic, and 5.48% in NEO. It also includes Dogecoin, Tezos, Decred, Bitcoin Gold, and Lisk.

This excludes all the cryptocurrencies in Bitwise 1o Large Cap Crypto Index, which consists of 10 cryptocurrencies. It constitutes of 66.38% in Bitcoin, 13.64% in XRP, 9.40% in Ethereum, 2.30% in Stellar, and 2.02% in EOS. The other cryptocurrencies are Bitcoin Cash, Litecoin, Monero, Dash and Zcash.

Mike Dudas, co-founder of Button says:

“I just looked at the 5 largest assets in the @BitwiseInvest 20 and want to cry “

Aditya Das, an alt-coin investigator says:

“I’m blown away by this… It has Bitcoin Gold, Lisk and largest chunk of the basket is TRX? Not even the most daring alt-coin trader would have a portfolio like this”

Starving meme artist, a Twitterati says:

“LOL they also have 5.26% Dogecoin and 4.2% BTG xD holy shit thats hilarious, 1/20th of this shit is fucking dogecoin”

Recently, the Chief Executive Officer of Bitwise, Hunter Horsley spoke about the cryptocurrency market crash, in an interview with Bloomberg. According to him, the plunge in Bitcoin’s price is the reason for the crash of the whole market.

Additionally, the CEO believes that the cryptocurrency market is in a bad place. He also stated that the cryptocurrencies trade is similar to that of the public equity, however, it behaves more like a venture stage phenomenon.





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Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

Altcoins

Tron [TRX] surges by over 6% as token storms back into the top 10

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Tron [TRX] price surges by over 6% as token back in top 10 as bulls take control
Source: Pixabay

Tron’s [TRX] price was surging, even as the cryptocurrency market cooled down following a brief rally anchored by Bitcoin [BTC]. The collective market cap stood at $324 billion. Following the surge, the token was back among the top 10 coins of the cryptocurrency market, a month after CEO Justin Sun promised the same. His tweet had said,

“#TRON will be back to Top 10 in June! #BitTorrent will be Top 30 in Q2! Let’s wait and see! #BTT $BTT $TRX #TRX”

However, despite the fact that Tron’s native token was prospering, BitTorrent [BTT] was still down at the 35th position on CoinMarketCap.

Despite low trading volume lately, TRX gradually climbed to break its resistance at $0.035. The latest bullish swing was speculated to lead TRX to breach the much-awaited $0.04 resistance.

Tron’s climb up the charts and into the top 10 is a surprise for some, especially since Tron overtook Cardano. The Charles Hoskinson-led crypto is still on a high after recent updates in its ecosystem, including the Shelly testnet going live.

Tron however, has not being standing idly. Recently, CEO Justin Sun revealed that Tron’s DApp trading volumes has exceeded those of EOS and Ethereum. Further, the Tron Foundation recently released a version of the Odyssey update on its mainnet. Further, Tron’s blockchain saw the release of a USD-backed stablecoin by Carbon recently.

Tron [TRX] 1-hour chart

Source: TradingView

Tron was up by 6.40% over the past 24 hours, driving its valuation to $0.039. Additionally, the digital asset rose by 3.7% over the last hour, at press time. TRX registered a market cap of $2.58 billion and a 24-hour trading volume of $900 million. The exchange with the highest TRX trading volume was BW.com, contributing 9.52% to the volume via the TRX/USDT trading pair.





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