On the 6th of May, TRON [TRX] had a market capitalization of $5.8 billion and was trading at a rate of $0.088. Since the past one week, the whole crypto-market is going through a downtrend, and TRON is going through the motions.
The prices have fallen by 23% in the last 7 day period. Observing the market during past three days a major drop occurred.
Brian Cohen, a cryptocurrency analyst says:
“All my charts said a bull run is imminent, until the 1st of May. A major decremented decline happened from the 5th onwards and according to the DMA, today what we have experienced is a bullish harami. A bullish harami is the end of the downtrend which indicates a reversal is possible tomorrow.”
Recent TRON updates:
Binance had recently announced that it would be supporting the TRON mainnet migration. Binance is the world’s largest crypto-exchange platform. Mainnet migration is the transfer of TRON [TRX] tokens from ERC 20 to their own blockchain network.
In recent news reported by AMBCrypto, TRON mainnet launch is to be supported by Coinnest which is one of the largest exchange platforms in South Korea.
Zebapay recently added trading pairs for TRON/XRP on its exchange platform. On the other hand, the partnership with Alibaba which was speculated to be a ‘fortune of a deal’ is still considered to be on hold.
A twitterati says:
“This is so awesome. The TRON community is getting a representative too. TRON is taking a lot of initiative to promote cryptocurrency awareness. Love you Justin Sun.”
A Redditor says:
“I don’t understand why people are making a big deal about TRON, this is just gonna make everyone’s money on the losing hand. Change your minds before its too late. TRON is a shit coin so is their upcoming mainnet launch.”
Another Redditor says:
“The price is falling badly everyone buy and HODL. DO NOT SELL.”
The post TRON [TRX] battles the bear – dropped by 23% the past week appeared first on AMBCrypto.