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Tron [TRX] escapes sideways monotony as massive volatility enters the market

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Tron [TRX] escapes sideways monotony as massive volatility enters the market
Source: Unsplash

The Tron [TRX] token has escaped the clutches of the bear market and has been in a state of volatility ever since. The one-day chart shows the price starting at $0.02342, with a market cap of $1.53 billion. Tron’s seven-day price has seen a colossal increase of 9.15%.

Source: Trading View

The price, however, didn’t stop at $0.02342, as it took a steep downturn and reached $0.2319 with almost the same market cap. The token had another slump, causing the price to plummet to $0.0230, which was the lowest in the one-day time frame.

The market cap followed the price, and saw a decrease of $22 million. The trend continued, but with a steady increase, which lead the price to climb to $0.02399.

The price rallied to higher highs and lower lows within a time span of 35 mins [approx], when the price fell down twice i.e., $0.02337 and $0.02317 and rose successively to $0.02396 and $0.02387. The market cap reached $1.57 billion during this span of volatility. The token is currently trading at $0.02396 and has a market cap of $1.57 billion.

Source: Trading View

In the seven-day chart price, TRX started at $0.02265 and with a market cap of $1.46 billion. This was followed by a volatility dry spell until the prices slumped to $0.02172, causing the market cap to follow the same trend, which resulted in a decrease of $34 million.

Shortly after the slump, the prices ascended to a $0.02347 and market cap increased to $1.54 billion. This was followed by a steady increase in prices up to $0.02396 and a market cap of $1.57 billion.

The rise in prices is speculated to be due to the daily transactions of Tron exceeding that of poster child cryptocurrencies like Bitcoin [BTC] and Ethereum [ETH].

The Tron weekly report was released yesterday by Justin Sun on Twitter, which included the rewards for a community of hackers, who received a sum of $3,000 for vulnerability reports. The reports also included the completion of tests for memory database optimization and transaction property along with optimization of TVM cache.

The transaction receipt tree design and partial development for the TRX token remains a work in progress.

Apart from the weekly report, Tron’s founder and CEO, Justin Sun, tweeted recently about the listing of Tron [TRX] on Turkey’s fastest growing cryptocurrency trading platform, Koineks. Tron was also listed on Bestex, a global digital asset spot trading service.





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TRON & XRP: Market oscillation subsides as resolute bulls take over; rationality over rewards?

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TRON & XRP: Market oscillation subsides as resolute bulls takeover; rationality over rewards?
Source: Unsplash

A mere sighter of the bullish swings within the cryptocurrency space suggests that bulls are temporary; upswings don’t last and market oscillations are a part of normalcy. The cryptocurrency realm’s relationship with bulls is an affair, not a romance, but if one were to go by present market movements, they would think love is in the air.

Since the beginning of the second quarter of 2019, the bulls have blessed the cryptocurrency market, pushing Bitcoin’s price from $4,000 to its current price of $9,150. Even with such a sharp turn for the better, there have been no steep falls, no hairpin bends, and no cliffs along the way.

The price chart for the collective market has been on the up-and-up, with even the worst of pullbacks not halting the bullish march. On the flipside, even positive isolated news for certain coins in the market have not resulted in major rallies. Rather, a calm sober sway up the price path is noticed. Two key tell-tales of this nonchalant, oscillation-less movement up the charts are Tron [TRX] and XRP, each with their own set of buoyant news.

Justin’s Sun’s Tron, on the back of yet another one of Justin Sun’s marvelous marketing masterpieces, was firmly at the centre of the cryptocurrency world, until Libra stole its thunder. However, the humdrum was not due to another Tesla half-kept promise, but due to him winning a charity auction for a lunch-date with none other than the Oracle of Omaha, Warren Buffett.

TRX peaked at $0.041, following the announcement of the lunch date between the investment tycoon and Sun. However, the current price is not a far cry from the aforementioned high. At press time, the 12th largest cryptocurrency in the market was trading at $0.033 and the plummet between the two price points was $0.029, implying the fact that the news did not have any larger implications on the Tron ecosystem or TRX itself.

Source: Trading View

XRP, the bank coin, also did not see a massive pump or dump following the announcement earlier this week. Ripple, the altcoin’s parent company, invested $50 million in MoneyGram, as the price of the coin spiked to $0.454 from $0.428. However with context, this pump pales in comparison to previous XRP spikes owing to announcements from the likes of Coinbase and Nasdaq, further acknowledging the fact that sober, and not erratic bulls, now dominate the cryptocurrency market.

Source: Trading View

Dovey Wan, Founding Partner at Primitive Ventures, attested to the “steady and solid” rise of the market, citing TRON and XRP. She tweeted,





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