Tron [TRX]: The sleeping giant wakes up, while other cryptocurrencies succumb under the pressure of the bear


In a recent round of events, Tron surpassed Bitcoin SV [BSV] and now it is conveniently located as the ninth largest cryptocurrency with a market capitalization of $ 1.78 billion and prices up to $ 0.026.

The Tron Foundation and all its members have worked for the development and adoption of Tron. Prices within one day show a steady upward trend with no signs of stopping.

Source: CoinMarketCap

Prices started trading at $ 0.022 on January 7, 2019, at 4.444 UTC, and maintained a steady rate of increase up to $ 0.024 in a few hours. The prices are consolidated at this point instead of correcting until the next day, namely January 8, 2019, at 08:09 UTC, after which the prices of the Tron have increased and have reached a point where the price it is at $ 0.0266 and the market capitalization is keeping a steady $ 1.7 billion.

The total trading volume over a 24-hour period is $ 273 million, which comes from a Singapore-based exchange, Bit-Z through the TRX / BTC trading pair. This exchange contributes huge $ 70 million thanks to the couple mentioned. Bit-Z also contributes a massive $ 20 million through the TRX / ETH pair.

Following Bit-Z is the Binance exchange of CZ, which contributes a total of $ 54 million through trading pairs, TRX / USDT, TRX / ETH and TRX / BTC.

One of the reasons the community speculates that Tron is pumping hard while other cryptocurrencies are barely charged is due to the addition of Tron as a commercial pair with XRP exchange on Bitrue.

In addition to the above, it was also reported that Tron introduced a new BitTorrent token which is an integration of Tron and BitTorrent.

The BitTorrent token was introduced by the Tron Foundation and the BitTorrent team as an incentive mechanism for the BitTorrent community. Users will be encouraged with BTT for the sowing of files and resources on the BitTorrent platform.

This news about Tron has taken a big leap into the ecosystem and the community speculates that it is one of the reasons why prices could rise astronomically relentlessly.

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Akash is your usual Mechie with an unusual interest in encryption and day trading, ergo, a full-time AMBCrypto journalist. He holds XRP because of peer pressure, but otherwise he found a day of trading with that little capital he owns.

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