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Tron’s [TRX] node count reaches its highest level in months after jumping by 250 in a few days

Namrata Shukla

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Tron's [TRX] node count reaches its highest level in months after jumping by 250 in a few days
Source: Pixabay

The cryptocurrency market was taken aback by the Bitcoin [BTC] hack that cost the world’s largest cryptocurrency exchange, Binance, 7000 BTCs. The crypto community came together to support Binance and among these supporters was Tron Foundation’s CEO and Founder, Justin Sun, who pledged to deposit USDT worth 7000 BTC, equivalent to $40 million.

As the news broke out, all cryptos except Tron saw a slump, which was a relief to the Tron community. The Foundation also crossed a milestone with its online nodes. Misha Lederman, a prominent proponent for the Tron ecosystem, informed the community about this. He tweeted,

“#TRON’s node count is increasing to its highest levels in many months:
1357 nodes online”

Source: Twitter

Source: Twitter

The proponent added,

“Given that only a few days ago the TRON node count was around 1,100, this uptick is notable & provides the #TRX blockchain increased stability & growing global reach”

Tron has been showing significant growth over the past few weeks, most notably reaching a block height of 9 million. Tron’s DApps are performing well among the community, fighting it out with Ethereum and EOS. Tron’s recent venture with Huobi Global announced that TRX contracts were ranked 1st in the world and the Cumulative Trading Volume was noted to be over $110 million.



However, none of the aforementioned milestones have helped the coin move up the crypto ladder and re-enter the top 10 crypto list.

Justin Sun however, appeared optimistic and tweeted,

“#TRON will be back to Top 10 in June! “





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Bitcoin

Bitcoin [BTC]: Don’t buy BTC at the top, buy it right now, says CNBC’s Brian Kelly

Akash Anand

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Bitcoin [BTC]: 'Don't buy BTC at the top, buy it right now', says CNBC's Brian Kellyq
Source: Pixabay

Bitcoin’s [BTC] rapid movement on the cryptocurrency charts revitalized an industry which was touted to be dead and buried in early 2019. The events over the past few weeks have not only increased the value of Bitcoin, but have also assisted in raising the collective market cap and the prices of other cryptocurrencies.

Giving more insight into this market movement was CNBC’s Brian Kelly, who touched upon the price fluctuations, as well as where the world’s largest cryptocurrency can go from here. The Bitcoin baller claimed that the 100 percent bounce back from Bitcoin’s lows was a great incentive for new investors. It also provided a reprieve for existing players in the market. Kelly claimed,

“Investors are wondering what the next market driver could be and in my opinion there are a couple of things. First of all we are starting to see the institutional players get into the field, evidenced by the entry of Fidelity and other such companies. Even the retail perspective is huge, with TD Ameritrade investing in Eris X with sources claiming that the organization will open BTC trade for customers in the  next three to six months.”

Kelly also spoke about how the market was entering a phase of a supply cut, where the supply of Bitcoin gets cut in the overall spectrum of the market. According to him, there is generally a price rally a year into the rise and a year out of it, and the combination of the supply cut and the rise in demand will be beneficial to Bitcoin’s price.



The CNBC official was also careful to inform holders and investors that while the price is holding at this point, people need to be careful since the market might be in the mood for a reversal. He warned,

“Do not buy it at the top but rather buy it now.”

At the time of writing, Bitcoin was trading at $7943.23, with a total market cap of $140.712 billion. The 24-hour market volume was holding at $24.816 billion and the BTC market was moving up by 0.45%.





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