While other cryptocurrency experienced a dip, Tron, on the other hand, saw again. However, recent events seem to overshadow the announcement of its upcoming decentralized exchange.
In the month of October, many Altcoins experienced a continuous bleeding out in terms of price with Ripple (XRP) and Ethereum (ETH) each diminishing by over 10 percent. After ten months of upward and downward price action within the cryptocurrency ecosystem, there is one crypto token that has managed to float in the month of October, which is Tron (TRX).
Previous Ranking of Tron
The stability of Tron in the month of October came as a surprise considering the fact that the coin was always volatile. At the beginner of this year, a study conducted by Finder.com ranked Tron as the most volatile within the first two months of this year. In the previous month, Tron experienced a 30-day change, which is about one-quarter of one percent.
Tron with its founder Justin Sun was alleged of over-publicizing partnerships. It was reported earlier this year that Tron collaborated with a Chinese firm Baofeng, which didn’t live up to its expectations. However, on October 12, Sun published a tweet, which hinted at another upcoming partnership. The post read as follows:
— Justin Sun (@justinsuntron) October 12, 2018
This secret partnership was discovered to be with a cloud computing company Baidu. Another report indicated that Tron was merely a client of Baidu and not a partner as many think. It seems that the tweet concerning the partnership was removed from Tron’s tweeter account. However, a Google search regarding the partnership still finds a link to the tweet but it links to a page that does not exist.
In spite of these controversial situations, Tron did have something good in October when it announced its upcoming decentralized exchange.
Altcoins Continue To Bleed
Only this month, Litecoin (LTC) slips downward by 17 percent whereas XRP went down by 18 percent. Data gathered from CoinMarketCap shows that Verger (XVG) a price high of over $0.26. Currently, Verge sits just over $0.01; these numbers indicate a price decline of about 95% within the past year. However, in January, Ryan Selkis predicted such numbers in his 95 Crypto Theses for 2018. He said,
“There is no rhyme or reason to prices in crypto, and there will not be in 2018. Best to embrace that this will be a sentiment-driven market until the crash. Stay safe and embrace the opportunity to sit on the sidelines and do research! There will be gems to swoop up in the coming 99 percent off sale.”