Tron (TRX) Price Suddenly Surges Six Percent. Is Top 10 Possible?

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  • Tron is inching closer to occupying a spot among the top 10 biggest cryptocurrencies by market capitalization

Tron (TRX) Price Suddenly Surges Six Percent. Is Top 10 Possible?

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Tron (TRX) has just surged by more than six percent, which pushed its price to a psychologically-important mark of $0.0150.

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It is not immediately clear what was behind this sudden pump, but the increasing trading volume suggests that it might be over just yet. 

The coin is currently in 13th place by market capitalization, but another little price push would allow it to trump Tezos (XTZ), which made significant gains during the crypto massacre that took place on Nov. 21.

That said, TRX is still down by more than 60 percent from its year-to-date high of $0.0389 that was set back at the end of June.

During its heyday, TRX was a regular within the top 10 coin, but it ceded ground to other projects. As of now, it needs to push out Tezos (XTZ), Cardano (ADA), and Stellar (XLM) to end up among the biggest coins. Tron would need to increase its market cap by about $100 mln in order to make it happen (implying that the competing coins remain in limbo). 

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As reported by U.Today, Tron (TRX) did manage to win back the sweet spot after its price witnessed a gargantuan 29 percent spike on the heels of the China-driven crypto euphoria, but it was followed by a brutal correction.                  

Tron CEO Justin Sun, who is famous for his loud promises, constantly keeps a close eye on cryptocurrency rankings. Back it August, he made it his priority to push TRX back to the top 10.          

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry β€” from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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