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Tron [TRX] soars over 12%, in a race to overtake Monero [XMR]?

Priyamvada Singh

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Tron [TRX] soars over 12%, in a race to overtake Monero [XMR]?
Source: Pixabay

Tron [TRX], the coin which was sitting on the 13th position in cryptocurrency rankings moved the markets by overtaking IOTA and Dash on Sunday. Currently, Tron is the 11th largest cryptocurrency and is close to entering the top-10 coin list, according to CoinMarketCap.

At press time, TRX was trading at $0.0272 with a market cap of $1.79 billion. The price has soared over 12% with a 24-hour trading volume of $357.8 million. In the 7-day scenario, TRX opened at $0.0221 with a market cap of $1.45 billion. During the week, the first upturn attempted by TRX was on 4th October, when the price took a flight to trade at $0.0232. Post this, the token remained stable with minor pop and drop patterns.

TRX 7d price chart | Source: CoinMarketCap

TRX 7d price chart | Source: CoinMarketCap

The first climb towards moving from 13th to 11th position was made on 7th October. Here, TRX was trading at $0.026 with a market cap of $1.71 billion.

Finally, the coin reached its week-peak when it started to trade at $0.0278 with a market cap of $1.83 billion. The lowest market cap seen over the week was $1.39 billion. Hence, the largest gap seen by TRX in terms of market cap was recorded to be around $440 million that made the difference on the cryptocurrency charts.

It also appears that TRX might overtake Monero [XMR], the privacy coin that is currently sitting on the 10th position with a market cap of $1.86 billion. However, there is no further analysis on whether the speculation will convert into reality.

Tron’s success in the rankings was also tweeted by its creator, Justin Sun. On the achievement, he also posted the then snapshot of the cryptocurrency index.

TRX hike to the 11th position | Source: Twitter

TRX hike to the 11th position | Source: Twitter

Earlier this week, TRX was reported to have jumped one place ahead on the rankings and was sitting at the 12th position for a short while. The coin is marking a bull run when almost all the other cryptocurrencies in the market are failing to take a flight.

Robert Almeida, a crypto-follower and blockchain space enthusiast wrote:

 “I love how all of a sudden the people who were bitching about price are now silent.”

Another Twitter comment was posted by choenix, who is also a TRX investor. The user stated:

“Been a holder for year now and believe this will be bigger then anyone ever imagined”

chris, a Tron follower dropped in a casual suggestion and encouraged the community to do better. He commented:

“Imagine where you would be if you could find a way to reduce the coins in circulation! That’s what dreams are made of! Keep it up and keep pushing to the top!”





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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

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