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Tron [TRX] closes in on Monero [XMR] with 6% hike in one hour

Priya

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Tron [TRX] closes in on Monero [XMR] with 6% hike in one hour
Source: Unsplash

Yesterday, the whole market crushed the investors’ sentiments as all the coins were dragged down by the bear once again. However, the coins have successfully dodged the bear’s attack, with some of the coins glowing double digits.

Tron [TRX], a well-known altcoin in the market, has surpassed Monero [XMR] in terms of market cap once again. The cryptocurrency is now placed in the eleventh position, with the privacy coin pushed down to the twelfth position. Notably, Tron was also one of the biggest gainers during the bull’s last visit.

Tron surpasses Monero in terms of market cap | Source: CoinMarketCap

Tron surpasses Monero in terms of market cap | Source: CoinMarketCap

Additionally, Tron is not the only coin to rally in the market. Majority of the top coins such as Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC] and Stellar [XLM] have joined the bull run as well.

According to CoinMarketCap, at press time, Tron is trading at $0.015 with a market cap of $996.72 million. The coin has a trading volume of $88.52 million and has surged by over 6% in the past 1 hour.

Tron price chart | Source: CoinMarketCap

Tron price chart | Source: CoinMarketCap

The highest trading volume for the coin is pouring in from BitForex with TRX/USDT pairs. The second highest trading volume is recorded on Binance with Tether pairs. Other major exchanges contributing to this significant price movement are Upbit, OKEx, and Huobi.

Moreover, Tron is known in the market for its promising claim of surpassing Ethereum [ETH], the biggest smart contract platform and now, the third biggest cryptocurrency by market cap. The platform even acquired BitTorrent, the biggest Torrent platform with an aim to Decentralized the Web.

Justin Sun, the CEO and Founder of Tron Foundation recently stated that they consider Tron more of a protocol than a company. He further added:



“BitTorrent is a popular in 138 countries. So its very important that we find a solution like a payment channel that all the country it’s the same. Right now, the banking system and all this payment channel is fragile.”

At present, BitTorrent is a part of Project Atlas, which will be introduced to the investors and enthusiasts in Q1 of 2019. Additionally, Tron recently announced a $100 million fund for game developers called Tron Arcade. This initiative will support developers and projects for the next three years. The main aim of the Foundation in investing in gaming industry is to encourage developers to build on top of Tron.

The Foundation also claimed that they will not be restricting Tron to the gaming industry alone but will also venture into other industries. This includes social media, charity, entertainment, enterprise solutions, and consumer internet.





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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 DApp Weekly Report: Gambling apps leads the surge in Tron DApp numbers

Namrata Shukla

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Tron DApp Weekly Report: Tron DApps number led by Gambling apps
Source: Pixabay

Tron, the eleventh largest cryptocurrency on CoinMarketCap, recently collaborated with Bitpie, a partnership that would help startups to bridge the gap in vulnerable financial systems. Tron’s token might be lagging in terms of performance in the market but, Tron DApps continued to surge.

The DApp weekly report released by the Tron Foundation reported an increase of 22 DApps in the Tron ecosystem, taking the total to 392. It noted that gambling DApps mainly contributed to this growth as 17 DApps were gambling-based. Decentralized exchanges followed suit, as 3 new DApps made their way into the Tron DApp ecosystem. The main highlight for the entire Tron community was the partnership with Opera, a mainstream browser.

Tron introduced a DApp ‘Lucky Moon,’ an entertainment-based DApp that pushes users to estimate the current time to run away from the imploding rocket with a specific reward rate. As the rocket takes-off, the reward rate keeps increasing and the player will have to escape at the right time. An extension of this game is ‘Tyrant Annihilation,’ where users need to collect seven types of equipment to kill a tyrant. The DApp might have taken inspiration from The Avengers.



The report made note of the fact that the Tron public chain received support from Aocoin wallet, a decentralized secure digital currency wallet. My Token, a software company that specializes in market information has been integrated into Tronscan and TRX market, leading the way to user traffic in DApps ecosystem.

At press time, Tron was valued at $0.0283 with a market cap of $1.89 billion. The 24-hour trading volume of the coin was noted to be $690.34 as it reported 6.36% growth over the past day. The coin grew by 8.80% over the past seven days, but fell by 0.44% in an hour.





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