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Tron (TRX) Falls Out of Top 10 List, Letting Cardano (ADA) Take Its Place

  • Yuri Molchan
    📰 News

    Cardano (ADA) suddenly surpasses Tron (TRX) by the market cap value, which gets ADA to position #10 and kicks Tron out of the list of most valuable crypto assets. Cardano raises on the recent news of a major upgrade launch.


Tron (TRX) Falls Out of Top 10 List, Letting Cardano (ADA) Take Its Place
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As the weekend starts off, radical changes are taking place at the top of the crypto market. Cardano has jumped over Justin Sun’s Tron on Coinmarketcap and now it is ADA that is top currency #10 with TRX bouncing back to position #11.

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What could possibly cause this reshuffle

Despite the aggressive Tron’s efforts to promote itself in every possible way and Justin Sun’s social media activities, so far Tron is disappointing investors who are hoping to make a quick profit on TRX.

Recently, Tron has achieved several milestones, which were expected to push TRX further up the CMC scale. Among them was the growth of Justin Sun’s Twitter followers on Twitter.

Recent initiative of the Tron Foundation in partnering with the San Jose State University in the Silicon Valley in order to provide educational events for students regarding blockchain and crypto.

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Cardano bets on a technological upgrade

While Justin Sun has been promoting Tron and BitTorrent mainly for the public in various ways and accelerated Tron’s speed of daily transactions, luring dApp devs from Ethereum and EOS, the Cardano team is preparing to launch its major update – Cardano 1.5.

The second phase of the platform’s development dubbed Shelley is already on the horizon. This fact encouraged the ADA’s price to add five percent a few days ago, when the announcement was made on the social media.

On Saturday morning, Cardano’s price jumped over 14 percent and ADA replaced TRX on place 10 among the top crypto assets.

At press time, ADA is showing a more moderate appreciation by 5.79 percent and is trading at $0.597 per token.

Tron

 

Cover image via u.today
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Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
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It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

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Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

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Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

Cover image via 123rf.com
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