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TRON Price Continues to Surge Thanks to Another 21% Overnight Gain

TRON Price Continues to Surge Thanks to Another 21% Overnight Gain

April 24, 2018

It is a pretty interesting time to be involved in cryptocurrencies. With all of the ups and downs over the past four months, there’s no boring day whatsoever. It seems the TRON price is also gaining a lot of value as of late. As of right now, the TRON price sits at just over $0.065, and may continue to rise for the foreseeable future.

TRON Price Momentum Intensifies

While every cryptocurrency has seen its value go up over the past few days, things look pretty good for the TRON price as of right now. Thanks to solid gains all week long, the TRON price has risen from $0.042 to $0.065 in very quick succession. Such a  50% gain should not be overlooked, not even in the cryptocurrency industry known for its massive price volatility.

In the past 24 hours, the TRON price has risen by another 21.77%. That is pretty spectacular, especially when considering how the price had already risen to over $0.05 in the days prior. This seems to confirm TRON is part of a massive uptrend right now, although it is possible there will be a brief dip in the days and weeks to come. Cryptocurrency markets remain pretty volatile first and foremost, as they always have been.

It is also interesting to see how TRON has gained 16.91% against Bitcoin. Unlike previous weeks, its gain over Ethereum is smaller compared to Bitcoin’s. While a 12.74% increase over Ethereum is nothing to sneeze at, it seems the momentum favors Ethereum more than Bitcoin at this stage. How all of this will play out in the rest of 2018, is very difficult to gauge right now.

With $977.587m in 24-hour trading volume, the demand for TRON appears to be completely genuine. It is good to see more cryptocurrencies push toward that $1bn daily trading volume, but it remains to be determined if TRON can hold on to this momentum for the foreseeable future. Even so, the current TRON price will undoubtedly attract a lot of new investors and speculators in the coming hours and days.

With Upbit leading the charge in terms of TRON trading volume, things are looking pretty good. Binance is quite a way behind, and Bithumb is even further down the line. With two fiat currency pairs in the top three, there appears to be a lot of fresh capital entering the TRON market right now. Unfortunately, there are no other non-Korean fiat currency pairs for TRON in the top 15 right now.

Whether or not the TRON price can reach $0.07, remains to be determined. It is evident there is a lot of positive momentum across the cryptocurrency industry, even though we still see temporary dips now and then. If this momentum remains in place and the growth rate is effectively sustainable, we will return to late 2017 levels before the year 2018 has come to an end. Only time will tell if that can even be the case, though.

About The Author

Jdebunt

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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