For three weeks now, the crypto market was in a free fall. There was one moment when it seemed like the coins are finally bouncing back, and Bitcoin managed to climb back to $4,200. However, this uptrend was only temporary, and the coins dropped once again as December started.
Not a lot of coins are doing well these days, and almost every single one is trading in the red. Bitcoin is currently priced at $3,864, and the total market cap of the crypto space is barely over $123 billion. As expected by many, the bearish trend is still active, and seemingly at full strength. However, there are a few coins in the vast crypto space that are actually managing to grow in these unfriendly conditions, with the most notable one being TRON.
TRON on the rise
At the time of writing, TRON is also trading in the red. Although, only hours ago, this was not the case. Even now, TRX is losing only around 0.50% of its value, while all other coins around it are dropping by 4-5% on average.
TRON’s increase, while it lasted, was not big. However, considering the current state of the market, it was easily enough for the coin to make a big step, and actually improve its position on the list of largest cryptos. After months of waiting at the 11th spot, TRON is now finally back in the top 10 largest digital currencies by market cap. While Monero and Cardano have dropped below it.
The coin’s creator and CEO, Justin Sun, was quick to notice the movement and comment on it via Twiter.
A good start at the beginning of December! #TRX is back to top 10. Keep moving, #TRON! $TRX pic.twitter.com/Yuf78jMfac
— Justin Sun (@justinsuntron) December 5, 2018
This move up is not that surprising, considering all that TRON has achieved in 2018, and especially recently. Only weeks ago, TRON announced that it wishes to create a blockchain gaming fund which is to empower developers. The project, called TRON Arcade, is set to receive around $100 million over the course of the next three years.
TRON has also recently launched a dApp accelerator program, and it plans to host a big niTROn summit as soon as 2019 starts. The summit is said to already have numerous speakers, such as nWay CEO Taehoon Kim, Blockchain managing partner, Sam Harrison, the NBA player Kobe Bryant, as well as Kiip’s CEO Brian Wong.
Where will TRON price go?
TRX value is carefully balanced between two quite close numbers, one of which is a support level at $0.0138, while the other is a resistance level of $0.0152. As for the current price, it is holding at $0.014411 and is ready to go either way. Today, December 6th has brought a bullish trend to TRX, and many are hoping for it to stay that way.
Making gains in the market such as the current one is seen by many as a big achievement, and TRX will undoubtedly attract even more attention because of it.
TRX market cap also made waves in the space, as it exceeded $1.01 billion just after the last weekend, and after the initial growth today, it dropped back to $914.5, only to grow once more to its current value of $953 million.
For real-time trade alerts and a breakdown of the crypto markets, sign up for Elite membership!
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 thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels
The post TRON (TRX) Back In The Crypto Top 10 appeared first on Global Coin Report.
Read more at https://globalcoinreport.com/tron-trx-crypto-top-10/
Globalcoinreport.com/ is author of this content, TheBitcoinNews.com is is not responsible for the content of external sites.
Our Social Networks: Facebook Instagram Pinterest Reddit Telegram Twitter Youtube
