TRON (TRX) managed to break out of the $0.05 range, and got another boost from Asian trading. The asset appreciated by more than 30%, to reach $0.074. But even for TRX, the recovery is precarious, as the asset slid by 7% in one hour.
!TRON!
With such a price spike, TRX returned as a top 10 coin. Korean markets are giving TRX a boost, and moving to exchanges for the token migration may keep adding to trading volumes. The past days saw TRX trading accelerate and achieve short-term records. But trading volumes for TRX are also becoming more consistent, now that the asset has been spreading beyond Binance.
However, a small trend of altcoins retreating against Bitcoin has emerged. As Bitcoin heads or $9,500, it may begin to take center stage again - and as many coins seem to have peaked, traders may revert to BTC holdings.
But the new factor for altcoins is the renewed activity of Bittrex, an exchange that pulled away from the USA due to regulatory pressures. Now, Bittrex is back, and has started accelerating Tether (USDT) pairings:
https://twitter.com/justinsuntron/status/988678807665000448
Despite the fact that printings of new USDT tokens have stopped, and the circulating supply is around 2.28 billion tokens, the influence of Tethers increases. More tokens are moving to new exchanges, and are paired with the hot coins that gained popularity in the fall of 2017.
The expectations for TRX are great - as big as reaching the $1 range, at which point it would line up above Ripple (XRP) in terms of market capitalization. However, it is possible that the 30% growth is just usual behavior caused by hype, and the price may retreat in the coming days.
https://twitter.com/justinsuntron/status/988923952943648768?s=21
According to TRON’s founder, Justin Sun, the project has been pronounced the busiest when it comes to GitHub commits. This would dispel the biggest accusation against TRON - that it is an empty project without a product. However, until the main net launches and TRON gives a real-life example of governance and the ability to carry distributed apps, the big expectations remain theoretical.
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