Tron [TRX] spikes by 9% over the day; only green coin on top-10 list

The ninth-largest cryptocurrency, Tron [TRX], saw a sudden hike on January 21. While all other major cryptocurrencies have fallen prey to the bear, Tron is currently showing a bullish trend. The coin is not suffering as bad as the other coins on the list, mainly because of all the projects and developments announced by the Tron Foundation, to keep the market sentiment in favor of the coin.

At the time of press, the coin saw a growth of 9.69% over the past hour, with a market cap of $1.7 billion. The coin registered a maximum trading volume of $291 million, with a dip of 0.45% in the past hour. TRX is the only coin in the top-10 cryptocurrencies list of CoinMarketCap that, at the time of press, registered a growth of over 2% in the past seven days.

The ninth-largest coin was highly traded on BitForex, with a trading volume of $40.8 million with the TRX/USDT pair. BitForex was followed by UPbit, as it recorded a volume of $35 million with the TRX/KRW pair. The third place was taken by Binance. The exchange recorded a volume of $27 million with the TRX/BTC pair.

Tron’s major development, at present, is BitTorrent, which was announced in 2018, in order to create the largest decentralized ecosystem. The Foundation recently announced the launch of BitTorrent [BTT] token. The founder and Chief Executive Officer [CEO] of Tron foundation, Justin Sun, has been very open to inform the community about every single step taken by the Foundation. The BitTorrent Foundation also joined the wagon and revealed more details about the BitTorrent airdrops for Tron holders:

“On February 11th, 2019, BitTorrent Foundation will initiate its first airdrop of BitTorrent (BTT) to TRON (TRX) holders. The snapshot will be taken when TRON’s block height reaches 6.6 million*. Based on this snapshot, BitTorrent Foundation will initiate its first airdrop of 10,890,000,000 BitTorrent (BTT), corresponding to 1.1% of total circulating supply.”

The Foundation made a claim that over the course of the year, 11,880,000,000 BTT will be offered to TRX holders. The Foundation also noted that following the airdrop 12,870,000,000 BTT will be deposited via airdrop in 2020. BitTorrent also added:

“If you are holding TRX, you will be eligible for BTT airdrops. All official wallets relaying on TRON’s network and carrying TRX will be eligible for BTT airdrops corresponding to the amount they are holding. No minimum of TRX is required to qualify for BTT airdrops.”