The market has been tumultuous over the past week with the prices mostly remaining bullish much to the disappointment of investors and holders alike. Tron [TRX] on the other hand has been on the uphill climb with the significant rise attributed to the recent development news from the house of Tron.
At the time of writing, Tron [TRX] was on a bullish 9.29% growth with a total market cap of $1.545 billion. The cryptocurrency was trading for $0.023 with a 24-hour market volume of $183.161 million. The current bullish spike comes in the wake of sporadic Tron price upsurges, with the cryptocurrency even going up by 14% a few days back.
A majority of Tron’s trading volume was coming in from Binance, with $20.511 million worth of Tron being traded on the exchange. Binance was closely followed by Bit-Z, which had a foothold on $20.284 million of the total TRX trade.
Some users are speculating that the shoot up occurred due to the recent announcement made by Justin Sun, the Founder and CEO of Tron Foundation. On 12th October, Justin Sun enticed users with another secret announcement that has blown up Twitter with comments and speculation by users and enthusiasts. Justin tweeted:
“Finally, First time to partner with tens of billions USD valuation industry giant. Guess the name #TRON #TRX $TRX”
The partnership comes in the wake of several tie-ups that the Tron Foundation has conducted with the latest announcement adding fuel to the already blazing fire. The Justin Sun led Foundation has ensured that it garners media attention with several posts not just by the Founder, but also by several social media handles related to the company. The last time the company set the Twitter-sphere abuzz was when it revealed its acquisition of BitTorrent.
Another cryptocurrency that was basking in the bullish light was XRP, which was the second biggest gainer among the top 10 cryptocurrencies. At the time of writing, XRP was trading for $0.417 with a total market cap of $16.705 billion.
The cryptocurrency was holding a 24-hour market cap of $736.043 million with most of the trade volume held by Bitbank. The cryptocurrency exchange had a volume of $132.838 million which was miles ahead of the second placed, Upbit with a total volume of $68.578 million.
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