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For three weeks, the cryptography market was in freefall. There was a time when the coins finally seemed to bounce and Bitcoin managed to go back to $ 4,200. However, this upward trend was only temporary and the coins fell again in December.
Nowadays there are not many coins that are doing well, and almost all coins exchange in red. Bitcoin currently has a price of $ 3,864, and the total cryptographic space market capitalization is just over $ 123 billion. As expected by many, the downward trend is still active and apparently at full capacity. However, there are some coins in the vast cryptographic space that are actually managing to grow in these hostile conditions, with the most notable TRON.
TRON increasing
At the time of writing, TRON is also traded in red. Although, just a few hours ago, this was not the case. Even now, TRX is only losing about 0.50% of its value, while all other currencies around it are dropping by 4-5% on average.
The increase of TRON, while it lasted, was not great. However, considering the current state of the market, it was easy enough for the currency to take a big step and actually improve its position on the list of the largest encrypted. After months of waiting at the 11th place, TRON has finally returned to the top 10 of the largest digital currencies by market capitalization. While Monero and Cardano came under it.
The creator and managing director of the currency, Justin Sun, was quick to notice the movement and comment on it through Twiter.
A good start at the beginning of December! #TRX It's back on top 10. Keep moving, #TRON! $ TRX pic.twitter.com/Yuf78jMfac
– Justin Sun (@justinsuntron) 5 December 2018
This move is not surprising, considering all that TRON has achieved in 2018, and especially recently. Just a few weeks ago, TRON announced that it wants to create a blockchain gaming fund that will serve to empower developers. The project, called TRON Arcade, is set to receive around $ 100 million over the next three years.
TRON has also recently launched a dApp accelerator program and plans to host a major summit as soon as it starts 2019. It is said that the summit already has several speakers, such as the CEO of nWay Taehoon Kim, the managing partner of Blockchain, Sam Harrison, NBA player Kobe Bryant, as well as Kiip's managing director, Brian Wong.
Where will the TRON price go?
The TRX value is carefully balanced between two fairly close numbers, one of which is a support level of $ 0.0138, while the other is a resistance level of $ 0.0152. As for the current price, it is holding $ 0.014411 and is ready to go either way. Today, December 6 has brought a bullish trend to TRX, and many hope it remains so.
The gains on the market like the current one are seen by many as a great result, and TRX will undoubtedly attract even more attention because of this.
The TRX capitalization also hit space, surpassing $ 1.01 billion immediately after last weekend and, after today's initial growth, fell to $ 914.5, and then once again grow to the current value of $ 953 million.
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Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and / or its affiliates, employees, writers and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels
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