The past 48 hours were great for the TRON altcoin, which was featured in the latest digital currency news for its 10% surge on the day. While Bitcoin declined from ,657 to ,515, TRON managed to rise – but was not as powerful as many expected in terms of recovering the market cap decline.
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Speaking of which, the decline in the price of Bitcoin has led the valuation of the crypto market to drop by $2 billion – from $221 billion to $219 billion. On top of that, major other crypto assets such as Ethereum (ETH), Ripple (XRP), EOS (EOS), and Bitcoin Cash (BCH) recorded losses from 3% to 5%.
For TRON, the past two months were great. In the month of January, TRON outperformed both Bitcoin and the US Dollar and since December 15th, managed to increase from $0.0129 to $0.0303 which is more than 134%.
Even though TRON remains down by 89% from its all-time high, the recent efforts from the team behind it and the CEO Justin Sun to allocate large amounts of capital in financing decentralized applications (dApps) and developers have finally had a positive impact on the short-term price trend of TRON.
We will see if the rally continues for TRON and if it is able to push the market and Bitcoin along with it.
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