New Longhash Data Report Shows Tron (TRX) Cryptocurrency is in a Class of Its Own the Past Month
Tron (TRX) seems to be making important progress in the virtual currency market. Although we are in a generalized bear trend, Tron has recorded very positive growth during the last 30 days. Indeed, it has been the only digital asset growing among the top 25 virtual currencies.
The information was released by Misha Lederman, the co-founder of IAmDecentralized-org. He took the data from LongHash, which released a report in which they informed that only Tron was able to perform well in the market during the last weeks.
— LongHash (@longhashdata) February 1, 2019
It is important to mention that Tron has been growing during the last few weeks due to the launching of the BitTorrent Token (BTT) which was launched using Binance’s Launchpad. The digital asset could be used to purchase BTT tokens on the Binance platform. The Binance Coin (BNB) has also experienced an important growth in the last weeks but it did not allow it to register positive growth during the last 30 days.
According to the report, Bitcoin has been traded in a tight range between $3,400 and $,3585. Now it is being traded close to $3,475.
During the last week, Tron was able to surpass Stellar Lumens (XLM) and Litecoin (LTC) and reach the seventh position in the market. However, the digital asset was not able to sustain that position and now it is currently in the 8th place.
Currently, Tron is being traded around $0.0267 and it has a market capitalization of $1.78 billion. In the last 24 hours, the digital asset lost 0.79%
After the BTT token sale, several news outlets started to mention that Binance and the Tron Foundation pumped and dumped both TRX and BNB. According to them, just a few users were able to participate from the token sale – which lasted around 15 minutes. Users were obligated to purchase TRX and BNB tokens if they wanted to participate in an overhyped BTT token sale. Additionally, after the sale, both digital assets dropped substantially.
In the future, Tron is planning to add different privacy features to improve its privacy. This is something similar to what Litecoin will be working on during this year with the implementation of Confidential Transactions.