When Friday evening comes around, cryptocurrency markets tend to fluctuate quite substantially. In the case of Tron, the market remains positive, even though other top currencies and quickly losing value right now. There are still some rumors regarding a potential Coinbase listing for TRX, although that has not been officially confirmed by either camp. As such, the momentum makes a bit less sense than one would expect.
Tron Price Uptrend Gains Momentum
It was only to be expected there would some brief correction for all cryptocurrencies. After several days of continual gains, a reprieve seems more than warranted. While that is effectively affecting a few different cryptocurrencies and assets, Tron is not on that list. Instead, the altcoin is noting some very impressive gains for the sixth day in a row.
In the past 24 hours alone, there has been a 14% uptrend in USD value, bringing the price per TRX to $0.0196. It seems to be a matter of time until $0,02 is reached, albeit that may not necessarily be the top either. There is also a strong gain in the TRX/BTC ratio, as there has been a steep 19% increase in this department.
Looking on social media, it is evident there are a lot of things taking place which seemingly do not make too much sense. The current Tron price trend raises a lot of questions, primarily because there is no real reason for this type of excitement. While holders and traders do not mind this particular market development, those who try to chase the top may effectively burn their fingers.
https://twitter.com/GoldAddiction/status/1076203935776587776
As is usually the case when trends like these materialize, it doesn’t take long for rumors and theories to circulate online. There are many people who genuinely believe TRX will be listed on Coinbase this year, although that seems rather unlikely at this time. While Coinbase is in the process of supporting more currencies and assets, they have not identified any specific projects so far
For those who want to play this Tron price trend a bit safer, exploring direct arbitrage opportunities is always a viable option. There are a few interesting opportunities available right now which can yield decent to modest profits. As is usually the case with price gaps, they largely depend on overall platform liquidity and potential price changes when funds are being moved between exchanges.
#TRX
Buy at #Binance and sell at #HitBTC. Ratio: 1.36%
Buy at #Sistemkoin and sell at #HitBTC. Ratio: 0.79%#bitcoin #arbitrage #arbitraj #arbingtool https://t.co/xiFUPzcOcC— Arbing Tool (@ArbingTool) December 21, 2018
While all signs point toward a bullish weekend for Tron, one has to wonder if this altcoin can buck the overall market trend which is shaping up right now. There is plenty of bearish pressure on Bitcoin, which will ultimately backfire on altcoins like Tron as well. As such, the coming days will be rather interesting, although the outcome remains rather unclear.
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.
Disclaimer
Please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. CryptoMode is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
