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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“We’ve had some bullish moves on ETH, BTC, and altcoins over the last 2 weeks. Is the bear market over? Maybe, the fact of the matter is we are going up. Traders must see PA for what it is and can change bias quickly. If you have been stuck with a bearish lense you are missing out.’’Over the past few months, Bitcoin and the other cryptocurrencies show similar movements. BTC showed weeks of stability but it later plunged by 10 percent. However, the current stability is not a guarantee for improved future performance. The crypto market shows a period of stability for the past couple of weeks. Ethereum made gains during today’s trading session. After the 12 percent surge in the price of ETH, crypto trader DonAlt said:
“Well, this is a proper moon. Not a big liquid spike but rather a nice controlled walk up. Didn’t expect quite this much action into the weekend but I’m not complaining. ETH as the top gainer on BitMEX. Right at resistance here – will be interesting if it can break through or not.”
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