The cryptocurrency market has been undergoing an attack. Several of the major cryptocurrencies like Tron [TRX], Bitcoin [BTC] and Ethereum [ETH] are all buckling under the bear market’s weight.
Currently, TRX is sliding at a rate of 0.39% with a total market cap of $1.447 billion. TRX is trading for $0.022 with a 24 hour market volume of $56.8 million.
The majority of the trade volume is held by Rfinex, which has a grasp on 7.8 million of the total trade volume. Rfinex is closely followed by OKEx which conducted TRX transactions worth $6.85 million on the platform.
The Tron [TRX] Foundation also recently released news of a new suite for developers to use on the Tron blockchain. This comes after news of the launch of the Tron Virtual Machine [TVM], a Turing-complete Virtual Machine for the development of dApps on the Tron blockchain.
Tron has been fighting to stay among the top cryptocurrencies. The previous spikes caused Tron to jump from the 13th position to the 11th position on Coinmarketcap. TRX also has a ‘hi-bye’ relationship with the top 10 cryptocurrencies, sporadically climbing to the 10’th spot, just to go back down to the 11’th or 13’th position in the next few days. Cryptocurrency enthusiasts are also speculating that Tron may overtake Monero, it’s closest competitor in terms of market cap, soon.