There are quite a few market shifts taking place in the cryptocurrency rankings. After a rather bearish 2018, it seems Tron has snuck into the top 10 again without too many problems. Its gains of over 50% in the past seven days will undoubtedly have something to do with this uptrend. Even today, it is the only market to note very minimal losses and a strong BTC-based value uptrend.
Tron Price Continues to Surprise
Depending on whom you pose the question to, the current Tron price uptrend is rather spectacular in many different ways. Not only has this altcoin managed to negate some of its losses sustained throughout 2018, but it also managed to rise in value by roughly 50% in the past seven days. Such a quick and violent uptrend usually doesn’t end well, although it seems the positive momentum is still in place despite today’s bearish pressure on Bitcoin and other alternative markets.
Over the past 24 hours, the Tron price has dipped by just 0.3%. Compared to all other top markets, that is quite spectacular, as even Bitcoin has lost nearly 6% in the same time frame. The more surprising development is the rise in TRX/BTC, as this ratio improved by 5.7%. This also means one TRX is now valued at $0.0275, or 722 Satoshi. A very positive trend overall, although it remains to be seen if this can be sustained for more than a few hours under these circumstances.
On social media, the Tron price trend is the talk of the town, so to speak. ByzantineGeneral is not too happy with the current price increase, primarily because it happened out of the blue over the past week. As such, a retrace seems imminent, yet this wave of bearish market pressure isn’t making too much of a dent in this overall trend as of right now. It will be very interesting to see things play out in the coming hours and days, for rather obvious reasons.
— ByzantineGeneral (@RobinDirickx) January 10, 2019
Tron & The Revolution – also known as Purple_Digit99 – is quite interesting in seeing how long this Tron price momentum can be sustained. Considering how the entire top 10 ranked by market cap looks incredibly bleak right now, this current “resistance” of sorts is all the more unusual. Its trading volume also holds pretty strong, which may indicate there is more positive momentum on the horizon.
The top ten has all been smashed in the past hour or two, all aside from Tron which is still up on the day by a good 15%. TRX briefly broke the $2 billion barrier before pulling back below it a few hours ago. #TRON #TRX
— #TRON & THE REVOLUTION (@PURPLE_DIGIT99) January 10, 2019
It is evident the recently released BitTorrentToken whitepaper has a lot of people excited. That particular news also reflects positively on the Tron price in a way, although the new token has yet to be released at this time. Whether or not that warrants such a violent uptrend in quick succession, is a different matter altogether. There is a good chance this uptrend will be negated fairly quickly, although no market can be predicted with 100% accuracy these days.
Am I the only one who doesn’t want to see a quick pump and dump here ?
Call me crazy but I for one want to see steady progress, not a massive rise with a lightning crash back down.
— Jason foxx (@Jasonfoxx10) January 10, 2019
When keeping all of this information in mind, it is more than evident Tron is doing something nearly no other currency, asset, or token can even attempt at this time. That in itself makes this altcoin pretty spectacular to keep an eye on, although one has to wonder how much of this momentum is genuine price action, rather than a pump-and-dump cycle. That will become more apparent over the coming hours and days, by the look of things.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
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