[ad_1]
Yesterday, the whole market crushed investor sentiments, as all the coins were dragged by the bear once again. However, the coins successfully avoided the bear's attack, with some coins emitting two digits.
Tron [TRX], a well known altcoin in the market, has passed Monero [XMR] in terms of market capitalization once again. The cryptocurrency is now positioned in eleventh position, with the private currency lowered to the twelfth position. In particular, Tron was also one of the biggest gainers during the last visit of the bull.
Tron exceeds Monero in terms of market capitalization Source: CoinMarketCap
In addition, Tron is not the only currency to gather on the market. Majority of the best coins like Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC] and Stellar [XLM] they also joined the bull race.
According to CoinMarketCap, at the time of the press, Tron traded at $ 0.015 with a market capitalization of $ 996.72 million. The currency has a trading volume of $ 88.52 million and has increased by more than 6% in the last hour.
Tron price chart | Source: CoinMarketCap
The highest trading volume for the currency is coming from BitForex with TRX / USDT pairs. The second highest trading volume is registered on Binance with Tether pairs. Other important exchanges that contribute to this significant price movement are Upbit, OKEx and Huobi.
Furthermore, Tron is known in the market for its promising claim to overcome Ethereum [ETH], the largest intelligent contract platform and now, the third largest cryptocurrency by market capitalization. The platform also acquired BitTorrent, the largest Torrent platform with the goal of decentralizing the Web.
Justin Sun, CEO and founder of the Tron Foundation, recently said he considered Tron to be more a protocol than a company. He also added:
"BitTorrent is popular in 138 countries so it is very important to find a solution as a payment channel in which the whole country is the same, at which time the banking system and all these payment channels are fragile".
At the moment BitTorrent is part of the Project Atlas, which will be presented to investors and enthusiasts in the first quarter of 2019. In addition, Tron has recently announced a $ 100 million fund for game developers called Tron Arcade. This initiative will support developers and projects for the next three years. The main objective of the Foundation to invest in the gaming industry is to encourage developers to build on Tron.
The Foundation also stated that they will not limit Tron to the gaming industry alone, but will also venture into other areas. This includes social media, charity, entertainment, business solutions and consumer internet.
Subscribe to the AMBCrypto newsletter
