Tron [TRX] surges while Cryptocurrency markets slow down
Cryptomarkets saw a small boom, in which Bitcoin price crossed $4,000 again. Bull speculation has slowed down since then, and all major cryptocurrencies are showing red, except Tron. Tron stands out with an 11.6% increase since the past 24 hours.
As Tron’s market cap increases, Tron’s volume has more than tripled in the past 10 days. Tron’s trading volume on 10th December 2018 was $76 million, but now it is $314 million. Developer’s migration and increased negative news around Ethereum is one of the major reason for Tron’s increase in marketcap.
Tron’s market cap on 22nd December
Tron’s market cap on 10th December
Justin Sun, the founder of Tron, is also calling all the laid-off Consensys team members to join the Tron family. He even gave Tron’s recruiting email, to ensure people can easily send their resume to Tron foundation.
Everyone in @ConsenSys and @ethereum please send your resume to firstname.lastname@example.org and embrace your new opportunity! You are mostly welcome to join our fast-growing and well-funded #TRON family. #TRX $TRX #ETH https://t.co/kzwFpyO31w
— Justin Sun (@justinsuntron) December 22, 2018
Tron is still the 10th largest cryptocurrency in terms of market capitalization but in terms of trading volume, it is the 8th largest cryptocurrency. Tron is currently trading at $0.02097 with a market capitalization of $313 million.
Update: The sell-off Tron has started. Tron went from $0.02178 to $0.02097 in a matter of an hour.
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