It remains pretty difficult to make sense of the cryptocurrency markets as of right now. While it seems Bitcoin is poised to note some more gains over the weekend, most other top currencies are struggling to reach any degree of momentum. The TRON price is one of the few exceptions in this regard, as it has noted a strong 15.64% gain in the past 24 hours.
TRON Price is on the Move Again
In this world of cryptocurrency we live in today, it is always interesting to see the TRON price go up once again. This particular currency had a solid run at the end of 2017, but things quickly fell apart in early 2018. Considering how all of the markets suffered from similar momentum, it is rather evident altcoins will follow Bitcoin’s lead in this regard. The TRON price was no exception, as its previous all-time high was quickly followed by a massive decline to just under $0.04.
Over the past week, it seems very little has changed for the TRON price, although there was some positive market momentum earlier this week. None of those efforts effectively resulted in major gains whatsoever, but the situation is still improving as we speak. Over the past 24 hours, we have seen the TRON price gain 15.64% in USD value, pushing the price to $0.051 once again.
This price gain is not just the result of the current Bitcoin price increase either. As we have seen with other altcoins in the past, the TRON price has gained 12.97% over Bitcoin and 16.6% over Ethereum. This further confirms Ethereum is struggling for momentum as we speak, and the year 2018 may not be all that great for that specific currency. TRON price speculators will not are about Ethereum all that much, for obvious reasons, but it’s still interesting to keep an eye on.
With $552.94m in 24-hour trading volume, things are not looking all that bad for TRON as of right now. This trading volume is a lot higher than most other cryptocurrencies cna bring to the table right now, although it seems to be heavily inflated due to TRON being added to a new Korean exchange. Considering how Korea’s trading volume is irrelevant to the rest of the world, it is possible the current TRON price trend may reverse in the next few hours.
So far, it seems the TRON trading volume is primarily dominated by Binance. The company’s BTC and ETH trading markets represent over 61.5% of all TRON trades once again, with Huobi completing the top three as of right now. The new Korean exchange pair has not been added on Coinmarketcap as of just yet, thus it remains to be seen how that will effectively impact the market as a whole. For now, things look promising, but positive momentum will run out eventually.
Whether or not we will see more TRON price gains in the coming hours, remains to be determined. It is certainly possible reaching 0.055 will be achieved, but there are always a lot of questions as to whether or not the current momentum is the direct result of this new Korean listing or not. Assuming that is indeed the case, the momentum will die down eventually and the TRON price will head back to $0.04. Both options are still possible as of right now yet only time will tell what the future will bring.