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XRP Price Prediction: Will XRP Break $0.35 Resistance? No Silver Lining in the Cloud Is Found
XRP Price Prediction: Will XRP Break $0.35 Resistance? No Silver Lining in the Cloud Is Found

TRON News - Tron Officially Launches Its Decentralized Exchange

  • Alex Morris
    📰 News

    Tron is on a roll with its decentralized exchange being officially launched on Dec. 12. The top ten currency continues making waves in the crypto market

Tron Officially Launches Its Decentralized Exchange
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The Tron network has officially launched its decentralized exchange dubbed TRXMarket. The exchange will feature three TRX20 coins.

The long-awaited DEX

Since the industry can’t remain tone deaf regarding the centralized exchanges, decentralized exchanges have recently become a thing in the crypto space. They actually cut out the middlemen while offering a higher level of security.

Together with Binance, Tron is also joining the decentralized party with its decentralized exchange going live at 04:00 (UTC) on Dec 12. It is considered to be the first decentralized exchange based on Tron. Initially, there will be three trading pairs: BET/TRX, FUN/TRX, and GOC/TRX, but new additions may come soon. These are all low-market cap coins with FunFair (FUN) being the biggest cryptocurrency by market capitalization (about $21.2 mln).

Defying the bears

During the current bear market, Tron remains one of the few altcoins that stand out. On December 5, it made headlines after cracking CoinMarketCap’s top 10, overtaking Cardano (ADA). Earlier, TRX also trumped Monero, the most well-known privacy coin, taking 11th place.

At the time of writing this article, Tron’s total market cap is sitting at $892 bln. The coin has witnessed a 2.31 percent spike over the last 24 hours.

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TRON News - LTC, BNB, TRX, and Others Can Make This a True Altcoin Season — How Can Bitcoin React?

  • Jack Thomas
    🤷 Opinions

    ☀️📈Since the Crypto Winter started thawing, all the main action has come from altcoins, and now a few are breaking key moving averages

LTC, BNB, TRX, and Others Can Make This a True Altcoin Season — How Can Bitcoin React?
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While the cryptocurrency market may not be fully bullish and breaking new records in terms of gains and growth, one thing that seems to be apparent is that the total bear market is starting to draw to a close. There has been a lot more positive sentiment in the past few weeks and months.

A lot of this has had to do with a few altcoins putting on good performances in the market. Thanks to positive news with a number of top 20 coin projects, their own token value has been rising – as well as importantly staying up.

Now, there is technical analysis that suggests that coins like Litecoin, Tron and Binance Coin, as well as lesser-known Maker, are trading above their 200-day moving averages, a development typically considered a sign of a healthy market.

This is good news across the board, but what is interesting to keep an eye on is whether Bitcoin will manage to keep up, outdo the altcoins, or potentially start falling behind, enforcing a true altcoin season.

Making a move

Of the top 20 largest cryptocurrencies by market capitalization as per CoinMarketCap, both the BTC and USD pairs of Litecoin, Binance Coin, Tron, and Maker are currently trading above their respective 200-day moving averages.

A moving average is simply an ongoing calculation of the closing prices of an asset over a specified period of time, but is also a tool traders use to gauge the asset’s trend direction as well as support and resistance levels.

These positive moves by top ranked cryptocurrencies are thus reinforcing the notion that the cryptocurrency market is heading towards spring again.

However, Bitcoin, as the head and the mover of the cryptocurrency market, is still trading below its own 200-day moving average, which could also be a reason why people are skeptical of flooding back into the market.

Altcoin season?

While Bitcoin has often been the catalyst and mover of the direction of the markets – and still predominantly is today – there have been times where the remainder of the coins take charge of the direction of things.

It is still early in the supposed Crypto Spring, but with altcoins making the biggest movements and helping prop up the market, one could assume that the market is heading for another altcoin season.

The last one was seen soon after Bitcoin’s All Time High as the remaining coins caught the tailwind of that astronomical growth, but things could well be reversed here if a few more major altcoins catch up and can cross their own 200-day moving averages.

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