Saturday was a sunny day for Bitcoin (BTC) and Tron (TRX) as the seemingly bearish trend turned into a bull-ran in a dramatic turn of events that saw trade volumes for the two cryptos hitting the roof.
After a rather long week of uncertainties, with prices swinging undecidedly between bears and bulls, the better side finally seemed to have had the upper hand as the bulls took over the show and the market prices embarked on a steady rise.
Bitcoin achieved a 24-hour trading volume totaling $3.479 billion with a market cap at $114.502 billion. At the time of this market situation, Bitcoin was trading at $6,615.86. BitMEX took the biggest share of the trading volume, scoring a cool 18.24% at $964.066 million, followed by EXX in the second place at $332.818 million.
It will be remembered that BitMEX recently released a report in the scope of the Ethereum (ETH) amount or balances held by ICOs. The report claimed that ICOs have sold out almost all the ETH they had.
However, as much as Bitcoin may be the market dominant among the many various cryptocurrencies currently trading in the crypto market, people like Craig Wright are yet to fully come around to that fact.
In his view, Craig sees Bitcoin as a mere gambling asset and even questioned the crypto’s place as the topmost and most popular in the market. Craig argued that the strict regulatory polices put on Bitcoin makes it hard for new market entrants to make it in the volatile trading environment and also makes the ventures very capital-oriented.
During the mentioned crypto market surge, Tron (TRX) was leading the charge with a market cap totaling $1.529 billion and growth rate at 2.78%. Trading at $0.023, Tron saw a 24-hour trading volume rise to about $136.376 million.
Majority of Tron’s trade happened on the crypto exchange Rfinex, which handled a good share of $16.415 million. Binance grabbed the second spot with $16.355 in Tron’s trading volume.
To be fair, the news that Tron was about to embark on a massive growth map have sparked quite some activity in the crypto world and may very well be the cause of the positive effect.
In a tweet, Tron’s Justin Sun recently announced that Bitfinex was adding the Euro (EUR), Sterling Pound (GBP), and the Japanese Yen (JPY) as pairs for Tron (TRX) on its platform. That’s some good news that could upset the market.
