After losing 36% in value over the past week, Tron [TRX] gains 13% in the past hour!
Just 24 hours after Tron’s Test Net was released on the 31st of March, it lost value by 10% leaving the TRX community in disarray, many asking questions about the importance and relevance of Test Net. After a week of negative trading, TRON currently still is the biggest loser at -36% among the top 20 tokens according to coinmarketcap.
At press time, TRON [TRX] was showing major momentum, gaining around 13% in the past hour when the entire market is trading downwards. TRX is also the only coin among the Top 70 list to show such a major gain. TRX at press time was trading at $0.036 to a token with a market cap of $2.3 million. It also means TRON jumps back up from the 15th position to the 13th position.
Many believe this past one hour gain could result in something mammoth for the next 24 hours. A look at the trading volume shows huge amount of money pumping in through Upbit, the Korean exchange, followed by Binance.
Clark Livingstone, a TRX investor says,
“WTF is going on… when you expect a pump after a Test Net, the prices drop and when you expect the prices to drop, the price is dramatically increasing.”
A look at the Live trading segment of Price.Ambcrypto also reveals huge amounts of buy order coming in from Bitfinex and HitBTC
Tron’s one-hour Dramatic surge
With the community expecting a coin burn on May 31st when the Main Net would be released, coupled with the possibility of a positive market, many expect TRON could be leading the way with a massive bull run.
Justin Sun had also recently announced the rapid increase of nodes for Tron. He had said in a recent comment that it took TRON only 2 days to reach 253 nodes across 5 continents with China and US being the leaders with 91 and 83 nodes respectively.
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