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This week of epic recovery that saw the cryptocurrency market add $ 30 billion to its overall value and Bitcoin break $ 4000, it seems to have finally begun leveling.
Bitcoin has consolidated over $ 4,000 and appears to be supporting, while Ripple (XRP) and Ethereum hold $ 0.35 and $ 110 respectively. Bitcoin Cash (BCH) was one of the biggest surprise winners of the week, tripling its price from $ 75 around December 16th to $ 228 only five days later. However, the resource has since failed to maintain support above $ 200 and is now trading at around $ 196.
Tron (TRX), on the other hand, seems to have reached the party a little later and now he is only mobilizing. Assets have increased by 22% today, while most other businesses have a gain of between 2% and 4%.
So why the delay?
Since it successfully passed the migration of its standard Ethereum ERC-20 token to its mainnet three months ago, TRX has benefited from increased network activity due to a multitude of gambling games and DApps developed on its blockchain. With a recent $ 100 million injection of funding into the upcoming TRON Arcade platform that aims to revolutionize the gaming industry, TRX supporters will surely have reasons to celebrate this Christmas.
Another factor is probably the recent announcement by Binance cryptographic exchange giant that will add support for trading pairs for TRX and stablecoin TrueUSD (TUSD). Together with Cardano (ADA) and NEO, Binance has started to support TRX / TUSD trading couples since December 19th.
The TRON network has grown exponentially in recent months, with TronScan data indicating that it will soon have over 1,000,000 active accounts. The network has recently benefited from a record of 2.64 million transactions in a single day.
Although it could only be a late rally, the single market movement shows a strong indication of the decoupling of TRX from BTC and other cryptographic resources.
Year-end volatility
While the cryptocurrency market is certainly showing signs of inversion compared to its recent one-year bear market, analysts have warned investors to remain cautious. The recent rally may simply be the result of the Christmas uproar and the lack of significant volume in the market means that it is likely to fall in the new year.
