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Tron [TRX] plunges into the cryptocurrency deep end with a 14.25% price drop

Akash Anand

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Tron [TRX] plunges into the cryptocurrency deep end with a 14.25% price drop
Source: Unsplash


The week opened with a majority of the cryptocurrency market seeing green that had perked up investor sentiments as well as the view of the cryptosphere. However, on 30th November, the entire market was bleeding with the top twenty cryptocurrency club succumbing to the bear’s pressure too. Bitcoin [BTC], XRP and Tron [TRX] were all crumbling, leading to the price supports being threatened again.

At the time of writing, Tron was the biggest loser in the top twenty cryptocurrency club. TRX was sliding by a massive 14.25% while holding a market cap of $917.773 million. The cryptocurrency was trading for $0.0138 with a 24-hour market volume of $157 million.

The Changpeng Zhao led Binance was the platform that conducted a majority of Tron’s transactions, with a hold on 18.3% of the total trade. Binance was closely followed by BitForex on which Tron transactions worth $22.157 million took place.

Justin Sun’s Tron has had the limelight focused on them multiple times after updates and development announcements. The latest feather in Tron’s cap was explained to the users when the Tron Foundation extended their support to the gaming industry. Sun had tweeted:

“Proud to unveil #TRONArcade, our 100 Million USD Game Fund! This new initiative will revolutionize both #gaming and #blockchain industries. Let’s build the next generation of games together.”

He further stated:

“TRON Arcade will play a crucial role in encouraging developers to join in our mission and provide the best blockchain gaming experience to users around the world.”

Sun has been on a rampage to push Tron into the realm of mainstream adoption for quite some time now. He stated multiple times that Tron is more of a protocol than a company. The CEO’s comments come in the wake of Tron’s upcoming plans to integrate BitTorrent with the internet and propagate the creation of Web 4.0.





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