TRON the blockchain based operating system looking to overthrow Ethereum, has ‘leaped higher’ over the past 24 hours. For the first time since August, the platform added 10% and shot the worth of the top 10 cryptocurrencies to over $2 billion.
According to CoinMarketCap (CMC) as at now, TRON has surpassed Stellar, the open-source decentralized protocol for digital currency to fiat currency transfers which allows cross-border transactions between any pair of currencies and is currently ranked as the world’s eighth largest cryptocurrency.
When the crypto industry first begun, Bitcoin (BTC) was the only name you’d here in the industry, however, the industry has massively grown and Bitcoin is slowly losing its place as the world’s top crypto coin. The main reason behind this sink is the performance challenge Bitcoin faces coming from its rivals.
Well, Bobby Lee’s predictions on Bitcoin’s performance in 2019 seem to be coming true. Bobby Lee, the CEO of China’s first exchange, BTCC predicted that Bitcoin might reach its all-time low in January 2019, bottoming out at $2,500.
Despite it generally positive start this year, Bitcoin has suddenly dropped and is dragging down the crypto market at large, Ripple (XRP) and Ethereum (ETH) included. According to WorldCoinIndex, the coin’s value has sunk down as low as $3,491 after the sharp rise two days ago. Ripple and Ethereum have similarly followed the downward trend, dropping down by over 15%.
Ever since its evolution, TRON [TRX] has managed to outperform not only Bitcoin but the U.S. Dollar as well. This happened last month when TRON’s price shot up to over 130%. Its recent price rally was apparently put down to a raise in the use of the TRON Blockchain protocol for Decentralized Applications (DApps).
Despite that, TRON has seen a boost with the upcoming BitTorrent token sale scheduled to start from the 29th up until the 3rd of February this year. The token sale will have two sessions, according to sources familiar with the news. The sessions will allow investors to choose between TRON and the Binance coin to buy their own BitTorrent tokens.
The crypto universe has been over the edge in the past few days, scaring off investors. TRON however, seems unshaken as it works its way up the ladder.