Tron [TRX] still on the tails of Monero [XMR]; bear’s grip tightens on the cryptocurrency market

The recent downward market atmosphere has pulled down most of the major cryptocurrencies with coins like Bitcoin [BTC], Ethereum [ETH] and XRP feeling the brunt of the bear. Tron [TRX] on the other hand has enjoyed a relatively bullish term with a 7 day gain of 17.56%.

The Justin Sun led Tron Foundation has been on quite the developmental runway with updates and partnerships creating news in the cryptosphere.

The Tron [TRX] Foundation recently released a new suite for developers to use on the Tron blockchain. This comes on the back of the launch of the Tron Virtual Machine [TVM], a Turing-complete Virtual Machine for the development of dApps on the Tron blockchain. The Foundation had released a bunch of tools that are aimed to make the Tron Network bigger and better. The tools are called TronBox, TronStudio, TronGrid, and TronWeb. Tron’s tweet stated:

“These tools are aimed to help developers integrate innovative DApps into the TRON ecosystem with ease.”

The Tron Super Representative program has also been going on in full swing with the latest addition to the SR club being BITGUILD. BITGUILD aims towards revolutionizing the global gaming industry by creating a blockchain based gaming platform.

At the time of writing, Tron [TRX] was trading for $0.025 with a total market cap of $1.656 billion. The cryptocurrency held a 24-hour market volume of $174.437 million and had a strong grasp on the 11th position after a hefty bounce from the 13th spot. Tron had overtaken IOTA [MIOTA] and Dash to take its present position on the charts.

A majority of Tron’s trade volume was held by Binance which had transactions amounting to $20.484 million on the platform. Binance was closely followed by Bit-Z, with a grip on $16.860 million of the TRX tokens being traded.