Stellar Sets Out to Overtake Tron (TRX) As Market Gains a More Positive Outlook
The market seems to be winding down as the weekend ends, with many coins dropping in their value. Still, some coins remain over the recent resistance levels they reached, like Bitcoin (over $3,627), Ethereum (over $120), and XRP (over $0.30). The market as a whole is just under $120 billion in valuation right now.
There is no indication yet of what made this pump happen, it is worth noting that an official for the SEC has said that there will be a Bitcoin ETF approved at some point. Maybe even the idea that this approval could ever happen was enough to boost the market towards a rally.
Still, even with the pump, Tron (TRX) is experiencing one of the highest price corrections, dropping by 5% as one of the highest losses in the top 20 cryptocurrencies by market cap. While it was not exactly seeing high gains, this percentage is worse than all of the other drops. Without a high price surge to at least break even, many investors are rather surprised.
Stellar could be coming in to steal Tron’s place now, considering that Tron has not been seeing any gains lately. Still, with the quick developments that are coming through the crypto community and the new developments that they have created, they probably won’t stay below Stellar for much time at all. At the time of press, there is only an $180 Million marketcap difference.
Over the last few days, it is impossible to ignore the jump that the crypto community has taken. Along with the optimism of the moving market, there is also the optimism of the SEC agreeing to approve a Bitcoin ETF, though there has not been any news about it being on the table yet. The bullish pressure could be bringing new heights and a new rally.
Since Bitcoin has already seen the $3,600 mark, the next big level for bulls is going to be $4,000, which may give investors a little more confidence that the bear market is coming to a close.