|Jun 24, 2018 03:34 PM||By: Art Vasquez | 7064 Views|
The highlight of now, amidst the familiar crypto market slump, is the Tron (TRX) Independence Day that has proven to be pure by the current public crypto business decline witness this Sunday Morning. Bitcoin (BTC) has reached new lows of $5,800 with some exchanges such as Binance encountering BTC levels of $5,777.
The token of the day, Tron (TRX), has also been determined by the market crash and is currently trading at $0.040 and down 8.45% in the last 24 hours. Despite the decline, the token has conducted to achieve a significant victory in the businesses by edging out IOTA (MIOTA) from the number 9 spot according to coinmarketcap.com.
Current market capitalization of TRX, USDT, and IOTA. Source, Coinmarketcap.com
The contrast in market capitalization between TRX and IOTA currently stands at $37 Million. Tether (USDT) being the nearest competitor of Tron (TRX), is $20 Million shy of TRX’s market capitalization and at the time of writing this. Concerning USDT, the stable coin has been the choice of many dealers who are opting for the currency through this period of Bitcoin (BTC) and total crypto market volatility. The routine of many dealers is to cash out to USDT to avoid meaningful loses as BTC and all other assets undergo a decrease in value.
Many can argue that TRON found itself in an embarrassing situation as it was launching its Genesis slab during a time of market turbulence. But you can also say that this is the best time for a project to fully launch its MainNet for the study will be diverted to the output that is the platform rather than the production of the token in the markets. This way, the crypto-verse will learn the skills of the platform. DApp developers will in turn flock to the new platform as its leaders are much better than those of any other program out there including Ethereum’s.
The act of TRX binding out IOTA might be one that ushers in the path for TRX to once over make it to the top 6 coins according to market capitalization and as foretold by Justin Sun immediately after the TestNet Launch final in March.