There is no such thing as a boring day in the world of cryptocurrency. This is great news for traders and speculators looking to make a quick buck. Those who eye the Tron price will be quite pleased with how the weekend has progressed so far. Solid gains across the board push this altcoin higher up the rankings. For now, the $2bn market cap remains elusive, but any progress is better than stagnation.
Solid TRON Price Momentum is Critical
Now is the time for altcoins to recoup some of the losses sustained earlier this week. Whereas other traders are looking for new markets to invest in, any asset token, or coin noting solid gains will get a lot of interest. Tron seems to be on the right track in this regard. Although its gains are not as steep as those of other currencies, it is still making a positive impact regardless.
Over the past 24 hours, there has been a more than healthy Tron price increase. Following a 6.1% gain in both USD and BTC value, one TRX is now priced at $0.0285 or 792 Satoshi. It would appear nothing prevents the market from hitting 800 Satoshi this weekend, albeit that will only happen if this altcoin can sustain its gains over Bitcoin for more than a few hours on end.
There is one peculiar development involving Tron most people seemingly ignore. Boujeecat, a service specializing in building a new platform, has confirmed they will not accept TRX payments after all. This is despite openly supporting Tron some time ago. Instead, the company will support Holo, a currency which has seen a fair uptrend all week long. Very controversial, but it is their decision to make in the end.
— Boujeecat (@boujeecat) January 26, 2019
The main focus among traders and speculators will be on the Tron value now and over the coming hours and days. It is evident the Tron ecosystem continues to grow at a very quick pace, primarily because of its distributed applications. One has to wonder how long this growth can be sustained and it will mean in a few months from now, though. dApps are not consumer-friendly by any stretch of the imagination at this point.
#TRON is eclipsing all other Top 10 #cryptocurrencies again w/ +5,55% daily increase & +14,3% weekly growth as the Top 10 cryptos remain stagnant#TRX DApps also dominate the Top 10 ranking on @DappRadar w/ 6 of the 10 most poplar DApps
— Misha Lederman (@mishalederman) January 26, 2019
The actual TRX price chart is quite interesting to behold, yet everyone knows Bitcoin can easily mess up any gains sustained by altcoins right now. SuperSpamax shares an interesting Bitcoin price chart in this regard, which can easily create a lot of short-term problems for all other altcoins on the market today. Tron relies on Bitcoin’s momentum, even though it may less influential compared to some other markets.
— すっぱ《漢》みんなで成り上がり (@SUPERSPAMAX) January 26, 2019
All things considered, it seems as if the TRX chart can easily swing either way over the coming hours and days. That is part of what makes cryptocurrencies so exciting. Everyone is chasing quick profits first and foremost, yet it remains to be seen if any market will be better off because of these short-term price swings. As long as the underpinning ecosystem grows and evolves, Tron should be well-off for the foreseeable future.
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.