TRON
$0.02462 -1.05%
TRX · 1w

Tron (TRX) Edges out Tether (USDT) From the Number 8 Spot. Is Stellar (XLM) Next?

The Tron cryptocurrency clearly has the momentum in the crypto markets as we complete the second week of 2019. Only days ago, TRX edged out Bitcoin SV (BSV) from the number 9 spot on coinmarketcap.com. On that day, TRX’s market cap stood at $1.558 Billion. Further checking coinmarketcap.com we find that its market capitalization has risen to $1.942 Billion. This has allowed it to edge out Tether (USDT) from the number 8 spot by a margin of approximately $20 Million. A screenshot of the market performance has been provided below for a better visualization.

The BitTorrent (BTT) Factor 

On the 3rd of January news broke that the peer-to-peer file sharing network of BitTorrent will be launching its BTT token on the Tron network. The BTT tokens will allow users of the platform to exchange the tokens to improve the speed of the BitTorrent Network. The project’s whitepaper further explains that the token will be a TRC-10 token. (TRC-10 is a technical token standard supported by TRON blockchain natively, without the TRON Virtual Machine).

Unexpected ‘Boost’ From the Ethereum Classic 51% Attack

Another unexpected factor that might be contributing to TRX rising in the crypto markets, is the recent 51% attack on the Ethereum Classic network. This attack has proven that Proof of Work algorithms are susceptible to rogue miners. Tron, which uses a Delegated Proof of Stake algorithm, does not have such vulnerabilities that might result in double spending. As a result, investors might have found TRX more attractive as a long term investment given all the technical developments and events happening around it.

The NiTRON Summit

TRX enthusiasts are also excited about the upcoming NiTRON summit scheduled for the 17th and 18th of this month in San Francisco. Many believe that more will be revealed during the summit, on how BitTorrent and Tron will decentralize the web as envisioned by Project Atlas.

Is Stellar (XLM) Next?

Only days ago, the founder...

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