Major market reshuffle: Tron [TRX], EOS all-in while Stellar Lumens [XLM], Bitcoin Cash [BCH] fold

The cryptocurrency market saw a major shuffle in the standings of a few major coins on the CoinMarketCap list on January 27. The coins that soared were EOS and Tron [TRX] as they surpassed the market cap of coins like Bitcoin Cash [BCH] and Stellar Lumens [XLM]. The build-up for this major shuffle had been in the pipeline for the past few days, following a continuous rise and fall of coins.

January 26

On January 26, Tron foundation’s Chief Executive Officer and founder Justin Sun had taken to Twitter to announce the growth of Tron [TRX], as it outdid Litecoin [LTC] and Stellar Lumens [XLM] on the CoinMarketCap list and moved to the seventh position with a market cap of $1.993 billion. However, within minutes of Sun’s tweet, TRX took over the stable coin Tether [USDT] and became the sixth-largest cryptocurrency with a market cap of $2.044 billion and with a growth of over 11% within over a day.

While LTC reported a market cap of $1.989 billion, XLM noted a market cap of $1.912 billion, indicating TRX’s lead. As the day came to an end, almost all the coins started to plunge.

January 27

Tron slipped right after touching the $2 billion-mark but was still going strong with a market cap of $1.929 billion towards the end of the day. LTC overtook TRX with a market cap of $1.931 billion, and TRX marked an end day market cap of $1.929 billion and settled on the eighth position, while XLM did not see a recovery and slipped to the ninth position with a market cap of $1.863 billion.

January 28

January 28 did not just see a new position for LTC, TRX, and XLM, but also for BCH and EOS. EOS overtook BCH in terms of market cap and acquired the position of the fourth-largest coin on the CoinMarketCap list. EOS recorded a market cap of $2.181 billion when it overtook BCH, which noted a market cap of $2.180 billion. However, due to the bear attack on January 27, most major coins faced a steep fall of over 9%. Tron shielded itself from this attack as it saw a quick recovery.

At the time of press, TRX saw a recovery by 1.19% with a market cap of $1.884 billion. It surpassed LTC by over $11 million, making TRX the seventh-largest coin. However, due to the vulnerability of the market, this gap can be easily covered by LTC as it has before, but as per TRX’s previous trend, LTC will have to fight for it.