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Tron [TRX] becomes the only coin to register growth over 30 days, finds report

Namrata Shukla

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Tron [TRX] becomes the only coin to register growth over 30 days finds report
Source: Pixabay

Tron [TRX], the eighth largest coin has been proving its mettle by noting progress in the bear market. As of February 4, the coin surged by over 10% in the past hour when all other major coins were bearish. The progress of the coin was recorded in the report by LongHash, which observed the performance of the top 25 cryptocurrencies on the CoinMarketCap list.

Source: LongHash report

Source: LongHash report

This news was shared by a Twitter user, @mishalederman who said:

“#TRON is the only coin in the Top 25 that has recorded a positive performance in the 30-day Sharpe Ratio according to a study published by #blokchcain data firm @longhashdata”.

The report also quoted the falling price of Bitcoin [BTC] and mentioned the lowest price of the coin to be $3,400.82 and the highest being $3,586.75.

Tron has been seeing a sudden hike like today’s over the past few weeks. A similar hike was observed a week back when Tron pumped and took over the Stellar Lumens [XLM] and Litecoin [LTC] for a while to go as high as the sixth position on the CoinMarketCap list when the coin touched the $2 billion mark in terms of market cap. However, on January 28, the coin settled for the eighth position with a market cap of $1.929 billion. The reason was speculated by many users to be the BitTorrent token [BTT] launch.



At the time of press, Tron was valued at $0.02701 with a market cap of $1.8 billion. The coin registered a growth of 4.44% over the past 24 hours, while is seen falling in the seven-day period by 0.44%. The coin is seen standing firm on the bullish side of the market by registering a growth of 0.01% over the past hour, with a 24-hour trade volume of $321 million.

The coin was highly traded on OEX, which registered a volume of $58 million with the TRX/ETH pair. OEX was followed by UPbit, noting a volume of $20 billion with the TRX/KRW pair.





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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.

Altcoins

Rabobank announces plans to drop its crypto-project

Sarvesh Kumar

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Robobank to drop its plans of having their own crypto-wallet
Source: Pixabay

Rabobank, a bank based out of The Netherlands, has decided to drop their idea of creating their own native cryptocurrency called Rabobit. The bank had announced their cryptocurrency plans in February 2018. Rabobank was looking at closing the gap between banks and cryptocurrency wallets. However, they have taken this decision after exploring the field for more than a year.

According to a report by Hard Fork, a spokesperson from the bank said,

“After careful consideration with our customers in mind, we recently decided that now is not the time to develop the idea further and bring it to the next phase of innovation”

Their cryptocurrency idea was part of the Rabobank Moonshot program, which was looking at boosting innovation in Fintech services. The bank does not consider their research a waste, but the same has led to valuable insights and experience in general, the spokesperson added

The spokesperson also said,



“We have learned valuable lessons about our customers and the crypto market and on how to design blockchain and crypto applications.”

The spokesperson cited regulatory uncertainty as the reason why the Dutch institution pulled out of the project. Although the bank has dropped the idea, they will be keeping a tab on the market and the regulatory changes in the industry.

Rabobank is not the only bank to drop the idea of having a cryptocurrency wallet. Recently, ABN AMRO, another Dutch bank, also dropped their plans of “Wallie,” their own cryptocurrency wallet. The reason for their drop was also with respect to regulatory conditions in the industry.





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