A few days ago, the general crypto market saw some greening development as Bitcoin and other top coins gained some price percentages and pulled the rest of the market with them. Bitcoin saw a rise from the sad state of peering down the $3k range to the improving highs of just above the $4k. Tron was another of the large coins to gain something from the bull charge.
The Slump
However, the bull run seems to have been short-lived, but the bears seem to have missed something: they didn’t seem to have a hold on TRX. While most of the rest of the market has gone back to red over the past 24 hours TRX has gained a cool 11% over the same period. That presents a rather unsettling scenario where one crypto defies the rest of the market to chart its own course – much like what BSV did at the onset of the dreadful BCH hash war that brought the market down. BSV seemed to gain by double-digits while the BCH and the rest of the market went on a free fall.
As is always the case, this development can be attributed to the uncertain nature of the crypto market – in which case it could be agreed that the occurrence of a second bull run wouldn’t be so surprising.
Tron’s Huge Jumps
What’s even more surprising, besides the price jump, is the fact that TRX has managed to triple its trading volume in just 10 days and that has, of course, contributed greatly to the noticeable increase in the crypto’s total market cap. On December 10, Tron’s trading volume stood at just about $76 million. At the moment, the figure counts to over $314 million.
One of the main factors contributing to Tron’s gains is the recent increase in developers migrating from the Ethereum network to join Tron’s. Of course, that has increased its market cap by a good percentage.
Justin Sun has also extended an olive branch, inviting the workers who have been laid-off at Consensys and Ethereum to join the Tron family. TRX stands at position 10 in the market by total market cap while it retains position 8 in terms of trading volume. That makes this crypto a rather stable digital currency. At the time of this writing, TRX is trading at $0.0200.
