Crypto markets still have no positive momentum as we end the week. The mass selloff has slowed down but all indicators are still bearish. Bitcoin has not been able to climb back above $7,000 and currently trades at $6,800, pretty much exactly where it was this time yesterday. Altcoins are up and down, some have continued to slide but one or two have jumped during Asian trading this morning and the coin of the moment is Tron.
Coinmarketcap reports that TRX is trading 34% higher this morning. Tron has been top coin before and is popular in Asia, today it has reached $0.041 from $0.029 this time yesterday. Over the week TRX has remade all losses in the dip and, despite all the negative sentiment on social media, it was the best performing altcoin in the top 25 in March. Against Bitcoin Tron is up 32% at just over 600 satoshis from a level of 450 sats this time yesterday. A few hours ago TRX spiked at 740 satoshis, or $0.050.
Tron takes a beating on social crypto groups but there is no denying that it has performed better than most of the other altcoins during this down trend. The spike a few hours ago was due to a listing on South Korean exchange Upbit where the altcoin can be traded directly in fiat (KRW). Additionally its founder, Justin Sun, has just graduated from Hupan University, an educational institute setup for budding entrepreneurs by Alibaba boss Jack Ma. The double pump has put Tron ahead of its digital peers yet again for the fourth time since the beginning of March.
RT Tronfoundation "#TRX $TRX justinsuntron, founder of #TRON successfully completed his academic career after three years of study in Hupan university. TronEspana TronKR TronRussia TronArabic https://t.co/aYFZoKsSVr"
— TRX News – 波场 (@TRX_News) April 6, 2018
TRX is traded heavily in Asia with Upbit and Binance leading the way. Trade volume has jumped tenfold from around $150 million yesterday to $1.6 billion today according to CMC charts. Currently Tron has a market cap of $2.6 billion placing it at 12th spot in the charts.
Total crypto market capitalization has made a small climb by 1.6% over the past 24 hours and currently stands at around $257 billion. Other altcoins performing well during Asian trading this morning include EOS which is up almost 10%, OmiseGO and Ontology.
More on Tron can be found here: https://tron.network/
FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals.