The crypto-market took a dramatic turn yesterday (December 20) as the market is beginning to take up a staircase recovery. The top-ten cryptocurrencies were red earlier yesterday, but they started making drastic positive gains as the day started moving. Today, Bitcoin, Bitcoin Cash, TRX, and ETH are among the top gainers in the market as far as top coins are concerned.
Tron, which regained much traction (again) spiked by 12.09% today and it’s still green. At the time of writing, TRX is trading at the market value of $0.019410 with a market capitalization of $1.2 Billion. It is necessary to note that Tron surged by more than 17% in the last two days for the first time in a few weeks and has moved to become one of the top-ten cryptocurrencies in the crypto-market. Subsequently, TRX’s trading volume also surged and was recorded to be more than $170 million in past 24-hours.
Yesterday, at the start of the 1-day cycle, TRX’s price was at $0.0162, and the market cap was projected to be less than what it is now (at $1.2 Billion). Gradually, the price began to take a drastic U-turn to the positive side and began trading at $0.0169 – this was the first spike. The second one came and shot the price of TRX to $0.0175, thereby increasing its market cap by $8 million – the second momentum was the highest TRX gathered that day.
There are several reasons for the surge in TRX price lately. Firstly, Binance, one of the leading exchanges in the world has stated it will be listing TRX/TUSD trading pairs, which is an important stride towards boosting liquidity in the crypto-market.
Another factor is based on the fact that Tron itself surpassed 900,000 mainnet accounts in just 178 days. Justin Sun himself stated this on Twitter to acknowledge the recent stride Tron has achieved in just a couple of months after the creation of Tron’s mainnet.
Before this stride occurred a few days back, Tron’s mainnet surpassed 100 million transactions, which shows that despite the market was on the bear side, Tron still attracted lots of investors and users in the crypto space.
Probably it is due to the increase in Dapps on its network. Alongside handling that high level of transactions a day, Tron recorded a breakthrough of more than 2 million transactions in a single day, which is many times more than the daily transactions that occur on Bitcoin, Ethereum, and Ripple.
Indeed, the current market surge of almost all cryptocurrencies is a piece of good news – for coins with real vision like Tron especially – and we hope the market gets to its full potential in the next few weeks.
Image courtesy of Pixabay.