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Flash hike: Tron [TRX]’s 8% boom leaves all other cryptocurrencies in the dust

Akash Anand



Flash hike: Tron [TRX]'s 8% boom leaves all other cryptocurrencies in the dust
Source: Unsplash

The cryptocurrency market’s roller-coaster ride has been a sight to watch with some coins seeing bull runs while others suffered under the weight of the bear. Tron [TRX], currently the ninth-largest cryptocurrency on the charts has seen sporadic shifts in behavior, from becoming the biggest winner to a significant loser and back to the winner’s stables again.

At the time of writing, Tron was growing at a massive rate of 5.2% in the one-hour spectrum and by 8.4% in the 24-hour spectrum. What makes the hike quite noticeable is the fact that Tron’s bullish run comes at a time when all the other cryptocurrencies were getting attacked by the bear.

Tron had one more feather in its cap, being the only cryptocurrency other than Tether [USDT] seeing green among the top-ten cryptocurrency club. At press time, Tron was trading for $0.0244, with a total market cap of $1.624 billion.

Tron’s market volume of $288.597 million was majorly split between two cryptocurrency exchanges, UPbit, and the Changpeng Zhao-led Binance. UPbit had a grasp on $38.162 million worth of TRX transactions while Binance witnessed $32.794 million of the total Tron trade taking place on the platform.

Tron has been in the news multiple times over the course of the past few weeks due to announcements related to BitTorrent’s new token as well as Justin Sun’s comments on the upcoming niTron conferences and the Tron accelerator. The BitTorrent token whitepaper read:

“TRON Foundation and BitTorrent Foundation are introducing a new cryptographic token called BTT along with an extended version of the BitTorrent protocol in order to create a token-based economy around the usage of networking, bandwidth and storage on hundreds of millions of computers on the internet.”

Justin Sun, the Chief Executive Officer of the Tron Foundation has been one of the most active cryptocurrency proponents online and had informed users earlier that the number of dApps on the Tron network had surpassed the hundred market. He had tweeted:

“#TRON has 100+ dapps on @DappRadar and 133 dapps on @dapp_review now! 2-3 dapps launched everyday. With #niTROn2019 and #TRON accelerator, we will break 200 very soon! #TRX $TRX”

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Engineering graduate,crypto head and Arsenal fan. Is fascinated by technology and all its marvels. Strictly against pineapple on pizza.