TRON appears to be the only cryptocurrency among the top trading cryptos currently showing positive return on the weekly chart.
With 3.85% of rises against the fiat in the last seven days, TRX is undoubtedly the only digital asset among the list of the top 20 cryptos actually showing progress despite the bear markets.
One of potential reasons for this case might be the announced token sale of BitTorrent Token (BTT), scheduled for 28th of January, as all TRON holders will become a part of the upcoming BTT airdrop announced for February 11th.
As the trading volumes of TRX are spiking against the fiat and despite the bearish momentum in the market among its crypto peers, TRON is being listed on more exchanges, also having multiple exchange markets announcing their support for the upcoming BitTorrent airdrop.
TRON (TRX) Might Push Litecoin (LTC) Down the List of Top 10
Litecoin probably had one of the roughest years in 2018 since it was forked out of Bitcoin’s chain as we could have seen the crypto dropping down the ranking list for more than several times, and TRX is not making it easy for LTC at the present.
Apparently, TRX is “only” around 100 million away from becoming the 7th-largest cryptocurrency in the market as the crypto is currently weighing 1.744 million dollars in oppose to 1.848 million that Litecoin is recording at the moment.
Given the fact that TRON is currently experiencing an increased positive momentum in the market, the crypto appears to have a great shot at taking LTC down and taking its spot.
The main objective of TRON foundation is to create a new decentralized internet, called Web 3.0, however, it appears that one of the main goals is to take down Ethereum (ETH) as well, judging by Justin Sun’s tweets as the CEO and founder of TRON is not trying to hide his opinion on the matter of TRON’s superiority in oppose to Ethereum.
Why is TRON Going Up When the Top Trading Cryptos Are Suffering in the Bear Market?
TRON has taken on an active social media campaign through numerous supporters and their founder and CEO, Justin Sun, also organizing numerous events and revealing interesting projects to the public such as TRON Accelerator, niTROn summit 2019, or their activities in Dapp development with allowing transitions from Ethereum’s EVM to TVM on TRON network.
TRON’s CEO announced several days ago that the network is now counting around 160 different Dapps with over 1.5 million accounts on the network.
Additionally, TRON managed to push the development of over 150 decentralized applications during the course of only several months, emphasizing that TRON progressing at an accelerated pace of growth.
What might be the main factor for the latest success of TRX in the market, alongside the fact that TRX took the title of the top trading currency on the list of top 20 traders during the last week, is the case that BTT airdrop is less than a month away so holders are stashing on their TRX units.
All holders of TRX will get BTT tokens with the announced airdrop at the time of the snapshot, which should take place on February 11th.
Image Credit: Coinnounce