As the weekend trucks along, the overall cryptocurrency landscape becomes a lot more apparent. Unlike what some would have expected, there hasn’t been any real uptrend to take note of. One interesting exception in this regard is the Tron price, as it is currently going on quite the tear. A remarkable development, as the $2bn market cap comes a lot closer all of a sudden.
Bullish Tron Price Surge is Quite Impressive
Although the opinions on the use and future of Tron will also be somewhat divided first and foremost, the project is getting a lot of attention lately. More specifically, it is currently ranked 7th by market cap, which is very impressive under these bearish circumstances. It is also interesting to note hos this token is getting a lot of trading volume these days, whereas other trading markets see a steep drop off in overall interest over the weekend.
To put this in perspective, there has been a solid 9% increase in Tron’s USD value over the past few hours. As such, the price has risen to nearly $0.03, albeit that level may act as tough resistance. There is also a 10.5% increase in the TRX/BTC ratio, pushing the value to 835 Satoshi. It is remarkable to note how Tron has noted solid gains in both USD and BTC value for several days on end now.
It has become more than apparent there are some strong opinions regarding Tron on both sides of the spectrum. More specifically, it seems James is one of the people who remain convinced Tron is nothing more than a scam. This seems to stem from a recent CNBC episode which highlighted Tron ahead of the “expected program”. A bit of an odd sentiment, but everyone is still entitled to their own opinion, even in 2019.
— James (@James9843) January 27, 2019
For those who are unaware, the BitTorrentToken will be airdropped to TRX holders later this year. Numerous exchanges have confirmed they will support this airdrop and Binance is one of the bigger exchanges to do so. It is a pretty interesting development regardless, as this further confirms exchanges are effectively on the ball where airdrops are concerned for a change. Users who keep TRX on Binance will not need to undertake any action to qualify for the airdrop.
— CryptoCurrencyTrader (@CryptoC02671473) January 27, 2019
The main question keeping people awake at night is when the value per TRX will surpass $0.5. It is evident that would require a near 1,400% increase compared to its current value, which might take a while to materialize. It is also safe to assume this will take at least a year or longer, although some people will undoubtedly have very different opinions on this matter.
— SebaPanico (RedBullSM) (@RedBullSMCK) January 27, 2019
Following these most recent gains, it seems reaching the $2bn market cap will take just a few hours or days from now. At the same time, there is a chance a correction will kick in. Tron has been on a tear for nearly a full week without dealing with any major setbacks. In most cases, such an uptrend cannot last very long without dealing with a major correction at some point. That would only make TRX an even more interesting market to keep an eye on over the coming days.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.