Bitcoin Cash (BCH) is stable today, but TRON (TRX) is outperforming industry trends: Bitcoin Cash is among the crypto coins that have been making noteworthy sideways moves over the last two months. Its price has stabilized around $1,300 range today. The BCH coin hit $1,800 mark a few days ago before falling back to $1,100 on last Friday.
The downside volatility in Bitcoin Cash price was unexpected. The market participants were expecting BCH coin to hold the momentum instead of losing all the gains in few days. The selloff was only driven by broader market volatility and traders profit-taking strategy.
The entire cryptocurrency market has been under immense pressure since investing icons have raised genuine concerns about cryptocurrencies fair value and acceptability as the medium of exchange.
But TRON Isn’t Following Industry Trends
TRON is making surprising movements despite the broader market selloff. The coin price rose 12% today following similar gains during the weekend trading. It is up more than 60% in the last month alone. The upswing in its price guided it to rank at 9th spot in cryptocurrency ranking.
Justin Sun, Tron Foundation founder says, “Our next goal is to become one of the top 6 cryptocurrencies in the world. We have actually achieved top 6 briefly on January 5, 2018 during TRON’s outstanding sprint out the gate. In 2018 we will reclaim and secure this title which will mark TRON’s global status as a mainstream public blockchain and lay a solid foundation for competition with Ethereum.”
The market participants are also bullish on TRON’s potential to become the most popular cryptocurrency. The mainnet launch on May 31 is the most significant price driver. Positive commentary from Justin Sun on Twitter has also been adding to trader sentiments. The participants are also optimistic that TRON will achieve the sixth spot in the next couple of weeks.
Featured Image: twitter