Cryptocurrency markets started off 2018 with a bang. However remove the first week of the year and everything else was a nightmare for investors! Tron has been such name which has been losing value rapidly. Over the course of the past 24 hours, the currency has fallen by over 36% which is quite a steep fall!
Tron (TRX) is currently priced in at $0.031 However, if you were to compare it from 24 hours ago, the cryptocurrency began the day at the $0.05 mark. From an even wider perspective, it is an even bigger fall as Tron began the week at the $0.06 mark from where it is a 50% fall.
Tron has found a permanent home in the list of the top 20 cryptocurrencies. It has been one of the best cryptocurrencies of recent times and has gained the faith of a large number of investors in a relatively short span of time. The cryptocurrency started off in the September of 2017 and has since been gaining momentum.
[caption id="attachment_2708" align="aligncenter" width="1112"]
Tron (TRX) price update as on 2nd February | Image: Coinmarketcap[/caption]
The market cap of Tron has been on a decline too. When the currency was at it's peak, Tron (TRX) stood at a market cap of $17 Billion. However, over the past few weeks the price, as well as the market cap of Tron have been on a constant fall. The current market cap of Tron is $2.04 Billion - if the currency continues to fall freely, it might lose the status of being a Billion dollar name.
Over the past week the market cap of Tron fell from $4.8 Billion at its peak to $2.0 Billion today. Interestingly, it isn't Tron (TRX) alone which has been falling, as almost every other cryptocurrency has been losing value too. Ethereum and Ripple too, lost a significant portion of their prices as they fell by 25% and 35% respectively.
While it is practically impossible to predict the movement of the markets, it appears that all these falling price should soon be reaching their support levels from where they are expected to grow again. For more (TRX) Tron price and news updates, stay tuned to Cryptocrimson or you can also bookmark our page.
: Neither the management nor the authors at CryptoCrimson are responsible for any losses, financial or otherwise, which may occur due to investing based on our articles. These are market predictions - which are not set in stone. The information provided is only for educational purposes and cannot be considered a financial advise.