Tron Shows Similarity with Bitcoin After Price Drops by 11%
The data shown by CoinMarketCap reveals that just 24 hours before the drop, Tron jumped to almost $13.77 billion.
On January 6, TRX has dropped to a market capitalization of $10.82 million.
Just two days prior to the slump, Tron got a massive boost after its founder tweeted that the company is set to enter into a partnership with a very prestigious company this second week of January. Moreover, he mentioned that the event will come in a live stream.
Tron’s boost during the first four days of the year has helped it climb to being one of the top 10 biggest cryptocurrencies in the world in terms of market capitalization.
Just like Tron, other digital currencies such as Ripple has skyrocketed within just a short span of time landing on the second spot just after crypto giant Bitcoin.
Tron is a company that is mainly focused on creating a Blockchain platform used for monetizing digital entertainment content. It is founded by Jack Ma’s protégé, Justin Sun.
Among its biggest investors is Wei Dai, the Chinese businessman tycoon who founded the bike-sharing company called Ofo.
With the trend shown by Tron, spectators can’t help but compare it to Bitcoin. It is also a matter of time if the announced partnership with a blue-chip company will help Tron rise again in the next few days. Meanwhile, all eyes are on the cryptocurrency world with its increasing popularity these days.