Tron (TRX) Skyrockets As Altcoins Pick Up Pace Following Bitcoin’s Price Surge

Tron (TRX) Still Struggling Despite Key Development Updates, Properly Bullish Above $0.30

The last couple of hours have seen the market add around $25 billion. Bitcoin, as we have reported, has seen a 10% surge, seeing it climb from $8,000 to a high of over $8,700. This movement has seen the market light up in green, seeing altcoins gain from 2% to 15%.

However, coins such as Bitcoin SV, which has been in its own winning streak for the last couple of days has seen gains of as high as 30%. Among the best-performing coins from the last couple of hours and at the time of press is Tron’s TRX. Tron is at the time of press up by 10%.

Tron began surging on Sunday after the founder and CEO, Justin Sun, made an announcement, and this has extended into Monday. At the time of press, Tron has climbed as high as $0.032235 having only begun Sunday a little above $0.027.

This has in tandem seen its total market cap climb to $2,150,742,398 which is now less than $70 million from reaching Cardano’s $2,216,137,258 market cap. The race for the tenth position could be heating up again after months of Cardano holding the title.

Market
Via Coin360.com

The recent surge means that Tron has now set an all year high for 2019 and according to the CEO, there is still more to come. With the CEO stating that there are big things to come somewhere past June 1, Tron might be lining up for even more gains soon.

TRON Ranks Second In Latest China Rankings

Recently, the Center for Information and Industry Development (CCID) which is run by the Chinese Ministry of Industry and Information Technology has released its latest crypto ranking. The ranking which is based on basic tech, applicability, creativity and much more. Tron in the latest ranking has come only second to EOS.

This is a great sign and one that shows that the work being done by the Tron project is great and will go along way to boosting its price position. In the ranking, it is important to note that Ethereum came third which would be an indication that other than user base and market cap, Tron is ahead of Ethereum in development.

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