Cryptocurrency’s market cap top 10 has a new addition – Tron. The Chinese multimedia/entertainment platform jumped to record highs between the night of January 3 and the morning of January 4, cementing itself among crypto’s most valuable assets.
Out With the Old, In With the New
Come the morning of Thursday, January 4, Tron had supplanted Dash in crypto’s top ten rankings. At the time of writing, the asset is up 137% from its price 24 hours ago. This puts its price at US$0.19 per coin with a US$12.8 billion market cap.
This impressive rise contributes to what had already been incredible growth throughout the holiday season. Tron entered December 2017 trading for fractions of a penny at US$0.002. By the end of the month, a single coin was worth US$0.04, a staggering 1,900% increase in only a month.
Going into the new year, Tron’s market capitalization was a respectable US$3 billion after the explosive growth, cooling down from an all-time high of US$4.3 billion at the peak of its December run.
This cooldown obviously didn’t last long, and after heating up again, Tron is up 375% from its value just a few days ago. On December 31, it was still ranked #19 on CoinMarketCap.com even after its December bull run. With this additional growth, it now sits proudly as the #9 overall asset in the market.
Why All the Fuss?
Recently, Justin Sun, Tron’s founder and CEO, has taken to Twitter to hype his maturing brainchild.
On the last day of 2017, Sun prophesied that “#TRON will be Top 10 in 2018.” His foresight was impressive, as even Sun likely wouldn’t have guessed that his prediction would come true a mere 5 days later.
Days into the new year, Sun also teased the potential of a game-changing partnership, noting in a January 4 tweet that Tron plans to announce a “partnership with a very prestigious public listed company next week.”
— Justin Sun (@justinsuntron) January 2, 2018