TRON increased 10% and became the biggest gainer from the larger-cap altcoins while BTC remained stuck in the same range close to $39,000 so let’s read more today in our latest Tron news.
After another price drop below $37,000, BTC went on the offensive and surged to almost $39,000 and most of the altcoin space was calm with Tron being among the few impressive gainers after the 10% price surge. After last week’s venture above $40,000 in which BTC surged north of the level twice but got rejected, the crypto remained well below the coveted line.
The bears almost gained all control over the market and didn’t allow for BTC to initiate any run-ups so they pushed the asset south and fell below the $38,000 price range on a few occasions. The last one came 24 hours ago as BTC declined to the daily low of $37,500 but BTC reacted well to the price drop and started regaining value fast. In just a few hours, it surged by over $1000 and neared $39,000 while now it sits close to the level as of the time of writing which means that the market cap went up to $740 billion. After the recent price fluctuations, most of the coins calmed down in the past two days.
Ethereum went from a local peak of $3000 to a multi-week low of $2700 but reclaimed some ground and now stands at $2850. Binance coin failed to reclaim the $400 and sits under it. Ripple, DOGE, Solana are all in the red while Terra, DOT, Avax, and Cardano are producing minor increases. TRON is the biggest gainer from the larger cap altcoins while TRX is up by 10% in the past 24-hours and trades near $0.08. as most altcoins failed to register bigger price moves in either direction, the cumulative market cap sits near $1.750 billion.
Tron is a blockchain that boasts smart contracts and decentralized applications on a scalable network and gets into the algorithmic stablecoin game the creator Justin Sun announced that the Tron DAO, the restructure Tron Foundation allows users to take part in governance and decision making about the network and will be issuing a USD Stablecoin in May. In an announcement, Tron DAO said it will raise up to $10 billion in reserves from prominent blockchain industry players in the next six to 12 months and the goal is to provide liquidity in case of emergency to the stablecoins issued on Tron including both Tether and USDD while also keeping their value stable coin during the cases of the financial crisis.
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