The cryptocurrency market is currently in a constant up and down. Not only Bitcoin is very volatile, but also individual cryptocurrencies experience sudden price increases, push the Coin strongly for a day and then slowly but surely fall off again. Since this morning, TRON has been rising strongly and has meanwhile gained more than 40%.
The total crypto market has fallen sharply within the last 24 hours, bringing the market capitalization to just under 209 billion euros. The crypto currency TRON defies the downtrend and rose this morning to a price of 0.0378 euros per TRX token.
The trading volume is also above average and amounts to more than 570 million euros within the last 24 hours. More than 34% of these come from the Korean stock exchange Upbit, another 24% come from Binance.
TRON briefly overtook NEO, but at the time of writing it ranks # 10 in the largest crypto currencies. This short-term price increase looks very much like a targeted pump, which should not be taken for granted. TRON has been able to report a lot of good news in the last few days, but in our opinion, none of these events lead to such a sharp price increase.
After TRON had also risen sharply before the launch of the Testnet, the course fell again sharply after the live pass. In the meantime, within just 2 days, 253 nodes have been put into operation on more than 5 continents.
Furthermore, the ATM operator CoinFlip since today listed the TRX token. Tron is the first ERC20 token that the company integrates into the system and can be purchased directly with cash. Ben Weiss, COO of Coinflip explains why TRX was chosen:
ERC20 tokens directly with cash. We want to deliver more coins in the future as we look to provide the most options to consumers. Tron is one of the biggest tokens out on the market right now, so it seems like a natural fit for our first ECR20 token.
All in all, these are very positive opportunities for the TRON community. However, it is questionable whether this sudden price increase will be permanent or give way to the bear market.
The further development of the course of TRON can only show the next days.
