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TRON News - Tron Remains at the Tail of Top-10 on CMC, Reaches over 2 Mln Accounts, Though

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💹Tron reaches several important milestones lately but fails to recover spot #9 on Coinmarketcap, remaining at the very end of the top ten list📈
Tron Remains at the Tail of Top-10 on CMC, Reaches over 2 Mln Accounts, Though
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The Tron Foundation keeps promoting its TRX currency in various ways, from partnerships with new exchanges to using BitTorrent and its native utility token BTT. However, after Binance Coin took position #9 from Tron on Coinmarketcap, TRX has been sitting there with no signs of going forward.

Tron’s recent milestones

Today, on March 4, the Tron Foundation proudly announced on its Twitter account that the number of Tron mainnet accounts has exceeded 2 mln.

In the comment thread, though, some users are expressing doubt regarding Tron’s current state. Some have mentioned that at least half of these 2 mln accounts are empty escrow wallets.

Others have mentioned Tron’s recent major update Odyssey v.3.5, saying that Ethereum has conducted its Constantinople hard fork on the same day as Tron, but the price went down instead.

Tron’s recent milestones

Slightly earlier, Justin Sun tweeted the number of smart contracts on the Tron network has reached 449, growing weekly by 5.9 percent.

Apart from that, the amount of Justin Sun’s followers on Twitter has reached 911,000. That is already more than the amount of Vitalik Buterin’s followers – 837,000 and John McAfee’s – 899,000.

As a leader of a crypto platform, Justin Sun seems to be getting more popular than some other key figures in the crypto industry. Besides, Sun publicly calls Ethereum and Vitalik Buterin Tron’s rival and plans to overtake it on Coinmarketcap. So far he has just managed to get more Twitter followers.

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Tron’s market state, further plans

At present, Tron remains in position #10, where it was pushed back by Binance Coin, which currently occupies position #9.

Tron is trading at $0.0214, having lost 6.44 percent of its value over the last day.

The other day, Justin Sun posted on Twitter that he and his team intend to bring a million BitTorrent users onto the Tron network. This is basically what the acquisition of BitTorrent was made for, as Sun said to the press last year.

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Jack Thomas

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

☀️📈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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