You never know which coin will fight the crypto crash

  • May 11, 2022 at 10:39 pm
  • The truth is Bitcoin and other crypto markets. The price of the BTC model is closely related to Ethereum and most other cryptocurrencies. So, when the price of bitcoin fell from nearly $40,000 to $30,000 over the past week, almost every other coin and token was also rich in red. But one coin has lived up to that expectation lately: the throne. Of all the crypto assets in the top 50 by market cap as of Tuesday, it is the only one whose price has increased in the last 24 hours and the last 7 days. During this period, there was an increase of 3.6% and 11.5%, respectively. Of course, TRX, Tron’s native blockchain coin for smart contracts, had its own frenzy with other crypto markets on Monday, going from a high of $0.09 to a low of $0.08. What didn’t happen, however, were the same weekly crashes that many other coins have experienced. Yesterday’s lowest was the highest reserve price since December. This is true. In a world where Bitcoin, Ethereum, and nearly all major tech stocks have reported double-digit percentage losses since January 1, TRX is actually up for the year — nearly 8%. Even Monday’s shock didn’t break the bank. From the start, Tron rarely received positive news. Its creator, Justin Sun, has been accused of plagiarizing the Ethereum White Paper and had several public disputes with Ethereum founder Vitalik Buterin. Recently, Sun attracted negative press for its purchase and subsequent management of crypto exchange Poloniex and software company BitTorrent. Additionally, Sun’s publicity antics — such as buying a seat on Jeff Bezos’ rocket in space, bargaining for dinner with bitcoin-hating Warren Buffett, and the Ukrainian government’s disregard for cryptocurrency Tron — keep him in the public eye even if they don’t. ‘not like that. Tron the crypto user. The price of Tron remains high for several reasons. First, in April, it announced plans for a new algorithmic stablecoin and a reserve similar to the Terra Network. With the collapse of UST Terra on Monday, the news isn’t too out of date. But Tron’s use of the Tether stablecoin is a good game. According to CoinMetrics, there is more USDT in Tron (41.7 billion far behind Ethereum in terms of usage and value). Tron is currently the 17th largest crypto asset with a market cap of $8 billion.