Tron [TRX] increases by 29% in the last 24 hours; gives Monero [XMR] a race for his position

The bull seems to be back on the market, with most of the coins having double-digit earnings. This is a blessing for all cryptocurrency enthusiasts and investors, since in recent weeks the coins have been crushed in the hands of the bear. The best earners in this season of bulls include Ethereum [ETH], Lumen stars [XLM], Litecoin [LTC], Cardano [ADA]and Tron [TRX].

Tron, one of the most popular altcoin on the market, witnessed a surge in the market. Moreover, the currency took control of Monero [XMR]The position in the market.

According to CoinMarketCap, at the time of the press, Tron was trading at $ 0.016 with a market capitalization of $ 1.08 billion. The currency had a trading volume of $ 195.51 million and recorded an increase of 32.77% in the last 24 hours.

The massive hike led the coin to get the eleventh position in the market, previously occupied by Monero. Tron has achieved this since it has over $ 18 million in market capitalization over the privacy coin, which has a capitalization of $ 1.06 billion. This position is also known to be Tron's previous position, which was lost due to the entry of Bitcoin SV into the top 10 list.

Most of the currency trading volume is coming from BitForex with TRX / USDT pairs. The second and third highest trading volumes come from Binance with Tether and Bitcoin pairs. Upbit and OKEx are the other stock exchanges that have posted a top-5 placement.

Tron price chart: Source: CoinMarketCap

Recently, Justin Sun, CEO and founder of Tron Foundation, announced that Tron has become one of the first projects to be included in the Binance Info Gold Label project.

In addition, BitTorrent, the world's largest Torrent platform, which was acquired by the Foundation at the start of this year, has integrated CoinPayments. This integration will now allow all users of the Torrent platform to make payments with cryptocurrencies like Tron, Bitcoin and Binance Coin. This can be used to pay for BitTorrent Pro and Ads Free products.

During the bear market, Sun also recommended that all developers switch from the Ethereum blockchain to Tron. He had stated on Twitter:

"In the bear market, the developers of #Ethereum should immediately migrate the token to Tron 1.0 transaction fee, no gas in #TRX 2. Compatible with # ETH, 0 migration cost 3. 2000 TPS 4. $ TRON list dex.You can easily increase your 100% token value with high liquidity. "

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Priya is a full-time member of the AMBCrypto reporting team. He is a finance specialist with a one-year writing experience. You had no value in Bitcoin or other currencies.