Even though the digital currency market as a whole has been in the grip of an immense bear run since September 5, over the course of the past 24-hours, this burgeoning sector has continued to garner momentum and has risen by over $10 Bln in total market capitalization.
Total Market Capitalization of the Cryptocurrency Market – 7 Day Chart
The Tron project has been one of the biggest economic movers of the past couple of days, with the TRX/USD trading pair gaining over 8.59% within the last 24 hours.
While the currency is still nearly 90% down from it's all time high (ATH) of $0.254, the project as a whole continues to deliver on its milestones. For starters, Justin Sun the founder and CEO of Tron, announced via a tweet yesterday that his company had officially partnered with Bittrex to roll out the firm’s first TRX/USD trading pair on September 17.
Additionally, Sun also announced that popular alt-asset trading platform, Cobinhood, had also completed its TRON mainnet upgrade and thus had resumed its TRX withdrawal and deposit services.
In the midst of all these positive developments, rumours that had been circulating regarding TRON teaming up with online retail giant, Alibaba, were proven to be false. While many Redditors claimed that it was Sun himself who was behind these rumours to begin with, over the past couple of days, both of the involved parties have vehemently “denied any such talks of a partnership having taken place”.
While EOS had stooped to a relative 15-day low of $4.72 on September 9, over the course of the past 24 hours, the currency has gained massive financial momentum and has climbed up to an impressive price point of $5.50.
This latest market support is being attributed to the news of popular online crypto exchange, HitBTC, adding EOS trading pairs for popular currencies such as XRP, LTC, XMR, DASH and BCN. Not only that, via an official company tweet yesterday , the exchange also announced that it was upgrading EOS’s status to that of a “quote currency”.
Lastly, it is also worth mentioning that top Canadian exchange, National Digital Asset Exchange (NDAX) has officially added support for EOS, thus becoming the first exchange within the country to offer a EOS/CAD trading pair to local residents. EOS is the sixth cryptocurrency listed on the exchange after Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
After what can only be described as a financial massacre over the past fortnight, Ethereum seems to be finally gaining traction once again, picking up to a respectable price point of $221.79 after dropping to a 14-month low of $170.87 just a few days back.
However, this run may not last much longer as the currency seems to be rapidly losing investor confidence, especially after it was reported by TrustNodes that over the course of the last 10 days, ICO projects had dumped over 160,000 Ether so as to minimize their losses as well as to procure “more valuable fiat assets.”