Recent crypto price movements have been on the positive side. The crypto market has spiked since last week. This is good for markets because the extended bearish season is gradually coming to an end. Although, Tron (TRX) has lost its position on the top 10 according to CoinMarketCap even when the entire cryptocurrency market was surging.
Tron News Today Shows the Markets are in Support of the Digital Asset
The current state of things since this weekend market shows that there’s supports for TRX because it has pumped by a huge 8% in over an hour, as of the time this report was published.
In less than one hour the Tron (TRX) spiked by about 7.20% in one hour. The crypto eventually recorded an 8.13% growth. Since last week, TRX attained a 25.53% price increase. Although, the digital asset hasn’t returned to the list of the top 10 cryptos by market capitalization.
As of the time this report was published, TRX was trading at $0.0292. It’s market cap stood at $1.94 billion and it also registered a 24-hour trade volume of about $496 million, and recording enormous growth during the same time frame.
What Caused the Sudden Tron (TRX) Price Surge?
One of the speculated reasons behind this sudden surge was the Tron-USDT pair’s launch date announcement and according to Tron Foundation’s CEO and Founder, Justin Sun, the demand for USDT-TRON was tremendous. The launch for the pair has been scheduled for April 9, 2019.
What About Other Coins?
The crypto market has taken major coins over a roller coaster ride in the last week. Nearly all coins registered gains after Bitcoin’s resurgence. Bitcoin saw a massive surge in the last week. Litecoin and Bitcoin Cash also saw surges in price in the same period. LTC and BCH were still surging by 6% after the news of the first halving.
As of press time, Litecoin (LTC) was seen a 6.80% price spike over the last 24 hours. The digital asset was valued at $93.72. Its market cap stood at $5.73 billion. While it registered a 54.98% price increase in the last week and dipped by 0.23% in the last hour.
Litecoin (LTC) has increased by 200% since 2019 with its last low noted in December of last year. This increase in percentage could probably see a second bull push when the Litecoin halving occurs.
BCH reportedly saw a 6.76% rise in its price in the last 24 hours. However, the digital asset dipped by 0.56% in the last hour. The coin’s progress over the last week was observed to be of an impressive 84.40%. It was reportedly valued at $309.66 as during the same period. Bitcoin Cash market cap was $5.48 billion, and its 24-hour trade volume was $2.34 billion.
Bitcoin Cash (BCH) is set to attain a block reward halving one month before Bitcoin’s and after Litecoin. The report of halving has helped to spike the price of BCH as well. It is speculated that this price rise in BCH will continue in the coming weeks. Remember that it is the nature of cryptocurrency markets to change trends and undergo corrections so caution must be applied going forward.