TRON (TRX) Grows 11% Against USD but Stays Weak Against Bitcoin (BTC)

TRON Bitcoin
TRON (TRX) Grows 11% Against USD but Stays Weak Against Bitcoin (BTC)
Rate this post

The new crypto price surge has seen countless coins experience heavy gains, with TRON (TRX) being the second largest growing coin within the top 20 largest cryptos by market cap. TRX, which has seen 11.22% growth in the last 24 hours, is topped only by Bitcoin itself, which has surged by over 12% in the last day.

At the time of writing, TRON’s price sits at $0.026255, while the market’s behavior promises further growth. Additionally, many are hurrying to buy TRON, expecting TRX price to hit $0.03 soon, which is far from impossible, considering the strength of the rally, although it would require another 15% gain in order for that to happen.

While it is likely that TRX — as well as the rest of the market — will see a correction sooner or later, the current surge appears to be locked in place. The coins’ future depends mainly on Bitcoin’s behavior, which is currently quite beneficial for the world of online trading.

While the largest coin does seem to drag the rest of the market up with it, TRX/BTC front is not nearly as great as TRX/USD. In fact, TRX is losing around 1.96% against Bitcoin at the time of writing. This is true for most other altcoins at the moment. As for TRON, it currently sits at 561 Satoshi level, although many are predicting a decline later today.

Troubles in heaven: Ups and downs of TRON ecosystem

Meanwhile, TRON continues to develop its ecosystem as well, particularly at the dApp department. However, according to recent complaints by the community, it appears that not all TRON dApps are to be trusted. For example, Tron Village dApp supposedly scammed Twitter user CryptoRob recently, taking his money and closing the door.

There is still no explanation regarding what has happened, but CryptoRob believes that he will not see his 11,200 TRX ($300) back. While not a particularly large amount, as far as the size of regular crypto scams can go, it is still a hint towards serious issues within the TRON ecosystem.

TRON also made headlines recently after DappRadar issued a report, claiming that dApp users and developers are leaving Ethereum in favor of TRON, as well as another project — EOS. The two feature much better speeds, as well as extremely low transactions. The migration towards the project definitely improved TRON online trading, providing the network with a high number of transactions, although most of its dApps are gambling-related, or labeled as ‘high-risk.’

On a positive note, TRXMarket received support by CryptoCompare recently. While this is not expected to have a major impact on the coin’s price, it still serves a purpose of promoting the project further, as not a lot of coins tend to gain recognition in such an early stage of their lifetime.

What to expect in the following days?

It is unclear where this rally might end up going, as there are predictions all over the internet right now. Some see Bitcoin price reaching $5,500 mark, while others expect that a massive correction will follow. Considering the size of Bitcoin’s influence over the market, whatever happens to the largest coin will also strike the rest of the crypto space as well.

That includes TRON, which will likely share Bitcoin’s bullish momentum for as long as it lasts. On the other hand, even if the correction does come for Bitcoin, TRON price should remain above $0.026 in the foreseeable future. As for TRX/BTC, the situation is quite different, and not a lot is expected to happen on that front anytime soon.

About Ali Raza

A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.