The crypto bulls are still in control this morning and markets are marching upwards though it seems to be slowing. Bitcoin has gained 3% on the day and is heading towards the psychologically significant ten thousand dollar mark. BTC is currently trading at $9,500 and signals are still bullish for the long term. Altcoins have been equally boosted and are mostly trading higher yet again this morning in Asia though there is some red creeping into the charts as a few start to correct. One streaking ahead of the pack is a coin we have featured several times before, Tron.
Love it or hate it, Tron is outperforming all other cryptocurrencies during Asian trade this morning. Coinmarketcap is reporting a 29% gain on the day as TRX heads towards $0.10. It is currently trading at $0.076, up from $0.058 this time yesterday. Over the week Tron has made significant gains of 85% from $0.042 this time last week, the monthly view is even brighter for this altcoin which is up 66% over the past month. Against Bitcoin Tron has climbed 25% to just over 800 satoshis from 640 sats this time yesterday. Weekly gains are equally as impressive at 50% from 535 satoshis this time last Wednesday.
Momentum for Tron has largely been driven by the announcement that a 30 million TRX airdrop will be landing for Ethereum holders. Founder Justin Sun seems to spend most of his waking hours on Twitter so new posts and announcements are not really out of the ordinary for this altcoin. A couple more minor partnerships and exchange listings have been posted over the past day along with an update on increasing market capitalization for TRX.
As usual the South Koreans have been all over Tron this morning with over 50% of the total trade being in KRW. Upbit, Binance and Bithumb are the top three exchanges for TRX trade, total volume has jumped from $560 million to just over $2 billion in the past 24 hours. This has increase Tron’s market cap to just under $5 billion nudging the coin back towards the top ten, it currently sits just outside at eleventh place, just behind Neo.
Total crypto market capitalization is higher yet again today gaining marginally from yesterday’s level to $418 billion at the time of writing. Other altcoins performing well this morning in Asia include EOS, up almost 10%, and Binance Coin.
More on Tron can be found here: https://tron.network/
FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and possible fundamentals.
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