Over the past month, the value of the crypto market dropped by more than $20 billion reaching $114 billion. But somehow, TRON managed to increase and recover to a stunning $0.0264 from the previous $0.0127 which is an increase by more than 107 percent. We are trying to find out how and why in today’s lazy Sunday altcoin news.
The price of TRON has demonstrated a strong increase motion against the US dollar but also against Bitcoin over the past five weeks. Recently, BitTorrent’s Token initiated a token sale on the Binance Launchpad and after the partnership between BitTorrent and TRON we believe that is one of the reasons for the spike in price.
Binance Launchpad and TRX have completed the token sale of the BitTorrent token in only 15 minutes. The BTT token was sold to TRX holders and 35.64 billion BTT were distributed to the TXR holders. The CEO of Binance even said that the demand for the BTT was so high that it has overloaded the system:
‘’Damn, no matter how much you prepare, still have bottleneck issues. Even the caching of caching was over loaded. Still under estimated demand. Sorry for the overloaded experience. And thank you for your support! Some issues will fix for the next one. Due to overwhelming demands, Tron team generously agreed to do a small airdrop for people who tried to place orders, but was not successful in buying.’’
Investors are positive that the next phase of TRON will be further fueled by the BTT token. TRX has also hundreds of dApps with thousands of active users as well.
Because of the high activity of the users in the BitTorrent system, remains the question how will TRX handle the millions of requests coming in daily.
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“Rug pull senses tingling. I managed to make it here up in $BTC, up in $USD. Going to keep it that way – tethering ~75% of my $crypto holdings. Playing with the rest. Maybe I get left behind, but I don’t think so.”Despite Bitcoin's increased dominance which now sits at its all-time high of 54.2%, the technical perspectives show that the great altcoin boom on the market is likely to produce a boost - and that the future altcoin news may show us a lot of new capital and confidence from investors. However, this altcoin boom is only possible if Bitcoin sees a strong upside movement and stabilizes above the crucial resistance levels. Currently, the daily spot volume of BTC is at around $580 billion which is still a big up since the first week of March - and a good sign that the great altcoin boom may be around the corner.
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