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Tron is presently ranked in the 11th position amongst the top cryptocurrency projects by market cap valuation. The cryptocurrency currently holds a $2.28 billion market value and it sits a small $247k behind the 10th position holder, Cardano.
Week started great for Justin Sun and TRON and BitTorrent HODLers. TRON (TRX) has been one of the top performers in the recent market surge and for a short time yesterday even re-entered the top 10 cryptocurrencies rankings after witnessing another major hike.
However, after its recent competitor Cardano announced a new partnership with FTAHK, the Fintech association in Hong Kong that has a greater focus on blockchain technology, AI, RegTech data and online payments, TRX fell again to 11th spot. It seems that this won’t be for long since TRX is, in term of market capitalization, lagging by only $247k.
At the time of writing, TRON had recorded market capitalization of $2.28 billion. It surged by 5.6 percent over the past 24-hours, in comparison to the US Dollar. However, Tron [TRX] performed much better over the whole week as it hiked by 24.42 percent over the past 7 days.
But, there is no reason to worry. After everything that Justin Sun promised, was done, there is no reason to doubt what he wrote recently:
“TRON will be back to Top 10 in June! BitTorrent will be Top 30 in Q2! Let’s wait and see!”
Let’s also not forget that earlier this month Sun announced that Tron reached a block height of 9 million. Following the launch of TRXMarket, the platform’s decentralized exchange, the community has been pegged as a source of good investment leading to positive price movements for the coin.
Moreover, they saw growth in its DApps as well. According to Mischa Lederman, a popular Tron proponent, the Sun-led network launched 167 new DApps in comparison to just 122 by Ethereum and 81 by EOS. This data points to a 68 percent growth within the Tron ecosystem over the past two months.
Yesterday, Justin Sun posted a tweet sounding very promising. He wrote that “something huge and amazing” is going to happen with Tron and BitTorrent. He promised the details after June 1.
BitTorrent In the Top 30
Besides TRON, BitTorrent (BTT) too entered the favorable zone. At the time of writing, BitTorrent/BTT is spotted on a 30th largest spot in terms of average market cap. Although its prices are not remarkable at the moment, the coin has seen the gain of 8.83 percent over the past 24 hours. Its average trading volume counts at $ 380,726,687 and the value of one BTT against USD trades at $0.001748.
BTT in recent times received mainstream attention and adoption across the various exchange. In last few days, Sun tweeted the upcoming listing of BTT on various platforms including BigOne exchange and kuCoin.
TRX, on the other hand, will be listed on BigONE exchange so TRONICS could trade TRX/USDT, TRX/BTC at 12:00, May 29, 2019(SGT).
Tron DApps Surpassing Ethereum’s and EOS’s
In the latest edition of CCID’s Global Public Blockchain Technology Assessment Index, Tron came in second, after EOS, with a Basic tech score of 95.6 and an applicability score of 24.3. Tron CEO Justin Sun said many times that EOS and Ethereum were Tron’s biggest competitors, but it turns out that it had the lowest creativity score among the three, clocking 24.1 to Ethereum’s 31.0.
There is however an obvious connection with DApps and the CCID rankings as these applications slowly entered the main fore in the cryptocurrency environment. Sources informed that Tron DApps had recently surpassed that of Ethereum and EOS in terms of weekly active and new users.
The recent TRX price risings have been very well received by Tron holders. Analysts agree that if the overall crypto surge can continue, we could see Tron entering the top 10 cryptocurrencies pretty soon, reaching the target level at $0.040.